Palatin Technologies, Inc. (PTN) updates on its ongoing pre-clinical data in mouse models of retinopathy.
The shares of Palatin Technologies, Inc. (PTN) have been on a downward trend since February 2021. PTN for the first time in years crossed the $1 price mark during the rally in Feb. Is there anything conclusive that can once again pump the stock above $1?
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The penny stock has come on the heels as the biopharma updates on its inflammatory disease models. PTN is a specialized biopharmaceutical firm that is developing medicines based on molecules that modulate the activity of the melanocortin peptide receptor system.
Palatin will present the latest data extracted from the melanocortin 1 receptor (MC1r) agonists PL8331 and PL9654 at the 2021 Annual Meeting of the American Society of Retina Specialists (ASRS), being held virtually from October 8-12, 2021.
The data from the melanocortin 1 receptor agonists PL8331 and PL9654 in mouse models of retinopathy show positive pre-clinical outcomes. Moreover, it also reflects the possible utility of melanocortin receptor (MCr) agonists in diabetic retinopathy treatment and choroidal neovascularization.
The MCr basically affects the immune system responses, sexual function, metabolism, inflammation, and food intake. Therefore, it is important to neutralize these melanocortin receptors. There are five MCr from MC1r to MC5r. Using receptor-specific agonists, we can activate receptor function which acts as the modulation for these receptors. As a result, this action block-outs the receptor function which can have significant pharmacological effects – medically.
The CEO of Palatin, Carl Spana stated that the RnD team is working continuously to come out with positive data in inflammatory disease models. The inflammatory disease models include the gastrointestinal system, front of the eye, and back of the eye – now.
The data from both preclinical and clinical studies show support for the melanocortin system as a target for treating a wide range of inflammatory diseases. They are collecting more evidence to find a conclusive way to treat these diseases.
Mr. Carl mentioned that the preclinical retina inflammation data is exciting and it gives them enough evidence to shift their melanocortin agonist platform towards human clinical studies. If Palatin is successful in moving towards human clinical trials, it would be a big breakthrough for the company.
In addition, Palatin Technologies is set to announce its fourth quarter and fiscal year-end 2021 results on 29 September 2021. The executives of the company will provide updates on the ongoing and new programs in a conference call at 11:00 a.m. ET, on the same day.
The next few days will be crucial for Palatin Technologies, Inc. (PTN). If the company comes up with strong quarterly results backed by positive inflammatory disease data, PTN stock can really make a strong move.