Palatin Technologies To Report Third Quarter, Fiscal Year 2006 Financial Results; Conference Call And Webcast On May 9th

CRANBURY, N.J., May 1 /PRNewswire-FirstCall/ -- Palatin Technologies, Inc. will announce its third quarter, fiscal year 2006 financial results for the period ended March 31, 2006 on May 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 Chief Financial Officer, Stephen T. Wills. Management will discuss the results of operations for the quarter ended March 31, 2006 and provide an update on corporate developments.

Schedule for the Financial Results Press Release, Conference Call and Webcast

- Q3-Fiscal Year 2006 Financial Results Press Release 5/9/2006 at 7:30 a.m. EDT - Q3-Fiscal Year 2006 Conference Call - Live 5/9/2006 at 10:00 a.m. EDT Domestic Dial-In Number 1-866-550-6338 International Dial-In Number 1-347-284-6930 - Q3-Fiscal Year 2006 Conference Call - Replay 5/9-5/16/2006 Domestic Dial-In Number 1-888-203-1112 International Dial-In Number 1-719-457-0820 Enter Pass Code I.D. # 5174046 - Webcast Live and Replay Access 5/9-5/23/2006 The webcast and replay can be accessed in the “Investor Center” section of our website, http://www.palatin.com, under “Webcasts.” About Palatin Technologies

Palatin Technologies, Inc. is a biopharmaceutical company primarily engaged in the development of melanocortin-based therapeutics. The Company’s lead product candidate, bremelanotide, is currently in Phase II clinical trials for both male and female sexual dysfunction. The Company’s internal research and development capabilities, anchored by its proprietary MIDAS(TM) technology, are fueling product development. 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.

Forward-looking Statements

Statements about the Company’s future expectations, including statements about the Company’s development programs, proposed indications for its product candidates, pre-clinical activities 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 those discussed in the forward-looking statements for various reasons, including, but not limited to the Company’s ability to fund development of its technology, ability to establish and successfully complete clinical trials and pre- clinical studies and the results of those trials and studies, dependence on its partners for certain development activities, need for regulatory approvals and commercial acceptance of its products, ability to recommence marketing and gain commercial acceptance of NeutroSpec(R) and ability to protect its intellectual property, 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.

Palatin Technologies, Inc.

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

MORE ON THIS TOPIC