Palatin Technologies To Report Second Quarter, Fiscal Year 2006 Financial Results; Teleconference And Webcast On February 9th

CRANBURY, N.J., Feb. 3 /PRNewswire-FirstCall/ -- Palatin Technologies, Inc. will announce its second quarter fiscal year 2006 financial results for the period ended December 31, 2005, on February 9, 2006.

The financial results announcement will be followed by a conference call and webcast held by Palatin's President and Chief Executive Officer, Dr. Carl Spana and Stephen T. Wills, Executive Vice President-Operations and Chief Financial Officer. Management will discuss the second quarter financial results for fiscal year 2006 and provide an update on corporate developments.

Schedule for the Financial Results Press Release & Conference Call/Webcast - Q2-Fiscal Year 2006, Financial Results Press Release 2/9/2006 at 7:30 a.m. EST - Q2-Fiscal Year 2006 Conference Call - Live 2/9/2006 at 10:00 a.m. EST Domestic Dial-In Number 1-800-289-0572 International Dial-In Number 1-913-981-5543 - Q2-Fiscal Year 2006 Conference Call - Replay 2/9-2/16/2006 Domestic Dial-In Number 1-888-203-1112 International Dial-In Number 1-719-457-0820 Enter Pass Code I.D. # 9373654 - Webcast Live and Replay Access http://www.palatin.com About Palatin Technologies, Inc.

Palatin Technologies, Inc. is a biopharmaceutical company developing melanocortin-based therapeutics. The Company's internal research and development capabilities, anchored by its proprietary MIDAS(TM) technology, have provided product candidates for the treatment of congestive heart failure, obesity and cachexia. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential. To date, the Company has formed partnerships with Tyco Healthcare Mallinckrodt and King Pharmaceuticals. For additional information regarding Palatin, please visit Palatin Technologies' website at http://www.palatin.com.

Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Palatin's actual results may differ materially from its historical results of operations and those discussed in the forward-looking statements for various reasons, including, but not limited to the Company's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development of its technology, the risk that products may not result from development activities, protection of its intellectual property, ability to establish and successfully complete clinical trials for product approval, need for regulatory approvals, dependence on its partners for development of certain projects, and other factors discussed in the Company's periodic filings with the Securities and Exchange Commission. The Company is not responsible for updating for events that occur after the date on this press release.

CONTACT: For Palatin Technologies: Stephen T. Wills, CPA, MST,EVP-Operations / Chief Financial Officer, +1-609-495-2200,info@palatin.com; or For Institutional Investors and Media: Carney Duntsch,Burns McClellan, +1-212-213-0006, cduntsch@burnsmc.com

Web site: http://www.palatin.com//