News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Palatin Technologies (PTN) Receives $1.75 Million From Sale of New Jersey State Tax Credits



1/3/2013 9:02:57 AM

CRANBURY, N.J., Jan. 3, 2013 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE MKT: PTN) announced today it has received net proceeds of approximately $1.75 million of non-dilutive funding through the New Jersey Economic Development Authority's tax credit transfer program. Palatin Technologies sold both New Jersey net operating losses and research and development tax credits to unrelated corporations.

Last year, Palatin Technologies received approximately $1.1 million under this program.

About Palatin Technologies, Inc.
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin's website at http://www.palatin.com.

SOURCE Palatin Technologies, Inc.


Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES