Palatin Technologies, Inc. (PTN) 10-Year Financial Performance & Capital Metrics

PTN • • Industrial / General

HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesDermatology & Autoimmune

AboutPalatin Technologies, Inc., a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder. It is also developing oral PL8177, a selective MC1r agonist peptide that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease; and melanocortin peptides for diabetic retinopathy. Further, it is developing PL3994, a natriuretic peptide receptor (NPR)-A agonist and synthetic mimetic of the endogenous neuropeptide hormone atrial natriuretic peptide for cardiovascular indications; and PL5028, an NPR-A and NPR-binder to treat cardiovascular and fibrotic diseases, including reducing cardiac hypertrophy and fibrosis. The company was incorporated in 1986 and is based in Cranbury, New Jersey.Show more

Revenue $0 -100.0%
EBITDA -$22M -1.3%
Net Income -$17M +41.8%
EPS (Diluted) -32.15 -1491.6%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -
ROIC -
Debt/Equity -
Interest Coverage -1511.34 -15.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 99 (top 1%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 96.3% through buybacks
✓Healthy 5Y average net margin of 3544.2%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM271.1%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM85.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-950.37%

ROCE

10Y Avg-273.76%

5Y Avg-396.73%

3Y Avg-721.49%

Latest-

Peer Comparison

Dermatology & Autoimmune

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AUPHAurinia Pharmaceuticals Inc.	1.96B	14.87	378.37	33.97%	29.28%	21.28%	2.25%	0.21
ARGXargenx SE	50.33B	813.24	63.63	78.6%	23.34%	15.14%		0.01
INVAInnoviva, Inc.	1.48B	19.76	54.89	15.54%	32.78%	12.61%	12.75%	0.65
GLPGGalapagos N.V.	2.24B	34.03	30.38	14.99%	-151.94%	-15.16%		0.00
PTGXProtagonist Therapeutics, Inc.	5.3B	84.75	20.04	6.24%	21.94%	7.11%	3.45%	0.02
ALMSAlumis Inc. Common Stock	2.84B	24.17	-2.33		-11.08%	-63.71%		0.12
PHATPhathom Pharmaceuticals, Inc.	1.17B	14.98	-2.83	80.01%	-186.53%
ORKAOruka Therapeutics, Inc.	1.57B	32.50	-6.51			-22.44%		0.00

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	0	44.72M	67.13M	60.3M	117.99K	-188.6K	1.47M	4.85M	4.49M	0
Revenue Growth %	-1%	-	0.5%	-0.1%	-1%	-2.6%	8.79%	2.31%	-0.07%	-1%
Cost of Goods Sold+	43.05K	45.68M	32.57M	14.86M	0	147.84K	217.53K	418.47K	97.64K	258.92K
COGS % of Revenue	-	1.02%	0.49%	0.25%	-	-0.78%	0.15%	0.09%	0.02%	-
Gross Profit+	-43.05K	-959.35K	34.57M	45.44M	117.99K	-336.44K	1.25M	4.44M	4.39M	-258.92K
Gross Margin %	-	-0.02%	0.51%	0.75%	1%	1.78%	0.85%	0.91%	0.98%	-
Gross Profit Growth %	1%	-21.28%	37.03%	0.31%	-1%	-3.85%	4.72%	2.55%	-0.01%	-1.06%
Operating Expenses+	49.25M	55.29M	41.21M	24.56M	23.72M	33.05M	37.84M	36.89M	26.89M	22.45M
OpEx % of Revenue	-	1.24%	0.61%	0.41%	201.08%	-175.23%	25.77%	7.6%	5.99%	-
Selling, General & Admin	6.18M	9.61M	8.64M	9.7M	9.77M	17.34M	16.51M	15.29M	12.27M	7.55M
SG&A % of Revenue	-	0.21%	0.13%	0.16%	82.77%	-91.93%	11.24%	3.15%	2.73%	-
Research & Development	43.07M	45.68M	32.57M	14.86M	13.96M	12.93M	21.33M	22.63M	22.4M	14.9M
R&D % of Revenue	-	1.02%	0.49%	0.25%	118.31%	-68.54%	14.52%	4.66%	4.99%	-
Other Operating Expenses	0	0	0	0	0	2.78M	0	-1.03M	-7.78M	0
Operating Income+	-49.25M	-10.57M	25.93M	35.74M	-23.61M	-33.38M	-36.59M	-32.46M	-22.5M	-22.71M
Operating Margin %	-	-0.24%	0.39%	0.59%	-200.08%	177.01%	-24.92%	-6.69%	-5.01%	-
Operating Income Growth %	-1.85%	0.79%	3.45%	0.38%	-1.66%	-0.41%	-0.1%	0.11%	0.31%	-0.01%
EBITDA+	-49.21M	-10.54M	25.98M	35.8M	-23.54M	-33.33M	-36.1M	-32.17M	-22.16M	-22.45M
EBITDA Margin %	-	-0.24%	0.39%	0.59%	-199.53%	176.74%	-24.59%	-6.63%	-4.93%	-
EBITDA Growth %	-1.87%	0.79%	3.47%	0.38%	-1.66%	-0.42%	-0.08%	0.11%	0.31%	-0.01%
D&A (Non-Cash Add-back)	43.05K	33.05K	56.57K	58.63K	64.2K	51.12K	486.02K	288.33K	339.07K	258.92K
EBIT	-49.25M	-10.54M	25.93M	35.74M	-22.41M	-33.6M	-36.17M	-28.69M	-29.72M	-17.29M
Net Interest Income+	-2.51M	-2.29M	-1.45M	-417.56K	-20.14K	23.57K	-29.68K	-20.01K	-17.11K	-15.03K
Interest Income	0	0	0	0	0	23.57K	0	0	0	0
Interest Expense	2.51M	2.29M	1.45M	417.56K	20.14K	0	29.68K	20.01K	17.11K	15.03K
Other Income/Expense	-2.46M	-2.26M	-1.14M	28.71K	1.18M	-212.39K	390.15K	3.75M	-7.24M	5.4M
Pretax Income+	-51.71M	-12.83M	24.79M	35.77M	-22.43M	-33.6M	-36.2M	-28.71M	-29.74M	-17.31M
Pretax Margin %	-	-0.29%	0.37%	0.59%	-190.07%	178.14%	-24.65%	-5.92%	-6.62%	-
Income Tax+	0	500K	82.5K	0	0	0	0	-4.67M	0	0
Effective Tax Rate %	1%	1.04%	1%	1%	1%	1%	1%	0.84%	1%	1%
Net Income+	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.57M	-36.2M	-24.04M	-29.74M	-17.31M
Net Margin %	-	-0.3%	0.37%	0.59%	-190.07%	177.99%	-24.65%	-4.95%	-6.62%	-
Net Income Growth %	-1.93%	0.74%	2.85%	0.45%	-1.63%	-0.5%	-0.08%	0.34%	-0.24%	0.42%
Net Income (Continuing)	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.6M	-36.2M	-24.04M	-29.74M	-17.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-8.26	-1.81	2.98	4.12	-2.38	-3.55	-3.79	-2.21	-2.02	-32.15
EPS Growth %	-1.26%	0.78%	2.65%	0.38%	-1.58%	-0.49%	-0.07%	0.42%	0.09%	-14.92%
EPS (Basic)	-8.26	-1.81	3.12	4.31	-2.38	-3.55	-3.79	-2.21	-2.02	-32.15
Diluted Shares Outstanding	6.26M	7.36M	8.28M	8.69M	9.39M	9.47M	9.54M	10.89M	14.7M	538.35K
Basic Shares Outstanding	6.26M	7.36M	7.92M	8.31M	9.39M	9.47M	9.54M	10.89M	14.7M	538.35K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	10.81M	56.58M	38.51M	104.41M	83.59M	65.91M	34.6M	16.32M	9.77M	2.92M
Cash & Short-Term Investments	9.38M	40.45M	38M	43.51M	82.85M	60.1M	29.94M	10.98M	9.53M	2.56M
Cash Only	8M	40.2M	38M	43.51M	82.85M	60.1M	29.94M	7.99M	9.53M	2.56M
Short-Term Investments	1.38M	249.84K	0	0	0	0	0	2.99M	0	0
Accounts Receivable	0	15.12M	0	60.27M	0	1.58M	1.78M	2.92M	0	29.47K
Days Sales Outstanding	-	123.37	-	364.79	-	-3.06K	442.44	219.27	-	-
Inventory	0	840.03K	0	149.74K	0	1.16M	944.47K	526K	0	0
Days Inventory Outstanding	-	6.71	-	3.68	-	2.87K	1.58K	458.79	-	-
Other Current Assets	143.86K	171.19K	325.09K	487.55K	609.85K	2.35M	1.12M	1.08M	147.25K	325.69K
Total Non-Current Assets+	244.23K	255.07K	502.95K	321.45K	1.46M	1.39M	1.47M	1.62M	972.6K	347.53K
Property, Plant & Equipment	97.8K	198.15K	164.03K	141.54K	1.41M	1.33M	1.42M	1.56M	915.68K	290.61K
Fixed Asset Turnover	-	225.70x	409.27x	426.03x	0.08x	-0.14x	1.04x	3.11x	4.90x	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	146.43K	56.92K	338.92K	179.92K	56.92K	56.92K	56.92K	56.92K	56.92K	56.92K
Total Assets+	11.05M	56.83M	39.02M	104.74M	85.05M	67.3M	36.07M	17.94M	10.74M	3.27M
Asset Turnover	-	0.79x	1.72x	0.58x	0.00x	-0.00x	0.04x	0.27x	0.42x	-
Asset Growth %	-0.63%	4.14%	-0.31%	1.68%	-0.19%	-0.21%	-0.46%	-0.5%	-0.4%	-0.7%
Total Current Liabilities+	13.99M	54.96M	10.76M	4.19M	3.93M	10.51M	16.26M	15.13M	9.66M	8.01M
Accounts Payable	713.89K	1.55M	2.22M	504.79K	715.67K	640.65K	3.16M	4.3M	4.1M	7M
Days Payables Outstanding	6.05K	12.4	24.92	12.4	-	1.58K	5.3K	3.75K	15.33K	9.87K
Short-Term Debt	5.37M	7.82M	5.95M	332.9K	0	0	0	0	0	0
Deferred Revenue (Current)	0	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	0	0	487.49K	499.52K	0	3.72M	7.3M	5.42M	2.72M	0
Current Ratio	0.77x	1.03x	3.58x	24.94x	21.28x	6.27x	2.13x	1.08x	1.01x	0.36x
Quick Ratio	0.77x	1.01x	3.58x	24.91x	21.28x	6.16x	2.07x	1.04x	1.01x	0.36x
Cash Conversion Cycle	-	117.69	-	356.07	-	-1.77K	-3.27K	-3.08K	-	-
Total Non-Current Liabilities+	14.64M	7.04M	1.29M	0	953.35K	7.13M	3.54M	4.79M	1.2M	33.97K
Long-Term Debt	14.11M	6.28M	332.9K	0	0	0	0	0	0	0
Capital Lease Obligations	14.32K	0	0	0	953.35K	900.52K	681.8K	590.34K	163.78K	33.97K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	439.13K	753.96K	456.04K	0	0	6.23M	2.86M	4.2M	1.03M	0
Total Liabilities	28.64M	62M	12.05M	4.19M	4.88M	17.65M	19.8M	19.92M	10.85M	8.04M
Total Debt+	19.72M	14.12M	6.28M	332.9K	1.27M	1.25M	1.15M	1.05M	590.34K	163.78K
Net Debt	11.71M	-26.08M	-31.72M	-43.18M	-81.59M	-58.85M	-28.79M	-6.94M	-8.94M	-2.4M
Debt / Equity	-	-	0.23x	0.00x	0.02x	0.03x	0.07x	-	-	-
Debt / EBITDA	-	-	0.24x	0.01x	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-1.22x	-1.21x	-	-	-	-	-	-
Interest Coverage	-19.60x	-4.62x	17.86x	85.60x	-1172.08x	-	-1232.68x	-1621.89x	-1314.49x	-1511.34x
Total Equity+	-17.59M	-5.16M	26.96M	100.55M	80.17M	49.65M	16.27M	-1.98M	-111.5K	-4.78M
Equity Growth %	-2.44%	0.71%	6.22%	2.73%	-0.2%	-0.38%	-0.67%	-1.12%	0.94%	-41.84%
Book Value per Share	-2.81	-0.70	3.26	11.58	8.54	5.25	1.70	-0.18	-0.01	-8.87
Total Shareholders' Equity	-17.59M	-5.16M	26.96M	100.55M	80.17M	49.65M	16.27M	-1.98M	-111.5K	-4.78M
Common Stock	685.68K	1.61M	2.01M	2.27M	2.29M	92.02K	92.71K	116.57K	179.27K	9.3K
Retained Earnings	-343.41M	-356.74M	-332.05M	-295.77M	-318.2M	-351.8M	-387.99M	-412.03M	-441.77M	-459.07M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.94K	-590	-2.34M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	-47.36M	12.88M	1.7M	-21.78M	41.33M	-22.65M	-29.92M	-28.42M	-31.46M	-21.31M
Operating CF Margin %	-	0.29%	0.03%	-0.36%	350.26%	120.09%	-20.38%	-5.86%	-7.01%	-
Operating CF Growth %	-2.55%	1.27%	-0.87%	-13.79%	2.9%	-1.55%	-0.32%	0.05%	-0.11%	0.32%
Net Income	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.6M	-36.2M	-27.54M	-29.74M	-17.31M
Depreciation & Amortization	43.05K	33.05K	56.57K	58.63K	64.2K	51.12K	126.67K	288.33K	339.07K	258.92K
Stock-Based Compensation	1.84M	1.76M	3.52M	3.48M	3.14M	3.17M	2.51M	1.41M	1.87M	1.38M
Deferred Taxes	0	0	-500K	0	0	212.53K	0	-392.27K	0	0
Other Non-Cash Items	327.48K	298.79K	175.49K	51.23K	299K	19.42M	203.92K	166.26K	-530.25K	-4.88M
Working Capital Changes	2.14M	24.12M	-26.25M	-61.15M	60.25M	-11.9M	3.44M	-2.35M	-3.41M	-758.79K
Change in Receivables	0	-15.12M	15.12M	-60.27M	60.27M	-1.58M	-199.58K	-1.14M	2.92M	-29.47K
Change in Inventory	0	3.04M	-7.68M	781.07K	0	-987.24K	217.53K	418.47K	-1.15M	0
Change in Payables	-392.59K	837.48K	672.33K	-1.72M	210.88K	-75.02K	2.57M	1.11M	-201.6K	2.9M
Cash from Investing+	-1.4M	991.6K	227.55K	-36.14K	-62.88K	-5.72K	-261.37K	-3.43M	12.45M	3.13M
Capital Expenditures	-17.7K	-133.4K	-22.45K	-36.14K	-62.88K	-5.72K	-261.37K	-433.93K	-42.53K	0
CapEx % of Revenue	-	0%	0%	0%	0.53%	-0.03%	0.18%	0.09%	0.01%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.39M	1.13M	250K	0	0	0	0	0	0	3.13M
Cash from Financing+	29.47M	18.32M	-4.13M	27.33M	-1.92M	-93.64K	18.36K	9.9M	20.55M	11.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-336.48K	161.65K	2.63M	693.17K	-2.67M	0	296.13K	-145.98K	5.99M	3.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-47.38M	12.75M	1.68M	-21.82M	41.26M	-22.65M	-30.18M	-28.85M	-31.5M	-21.31M
FCF Margin %	-	0.29%	0.03%	-0.36%	349.72%	120.12%	-20.55%	-5.94%	-7.02%	-
FCF Growth %	-2.55%	1.27%	-0.87%	-13.98%	2.89%	-1.55%	-0.33%	0.04%	-0.09%	0.32%
FCF per Share	-7.57	1.73	0.20	-2.51	4.40	-2.39	-3.16	-2.65	-2.14	-39.58
FCF Conversion (FCF/Net Income)	0.92x	-0.97x	0.07x	-0.61x	-1.84x	0.67x	0.83x	1.18x	1.06x	1.23x
Interest Paid	0	0	1.08M	0	19.22K	0	0	0	0	15.03K
Taxes Paid	0	0	500K	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	226.63%	56.11%	-24.82%	-51.71%	-109.83%	-336.46%	-	-
Return on Invested Capital (ROIC)	-	-	-	101.9%	-63.28%	-	-	-	-	-
Gross Margin	-	-2.15%	51.49%	75.36%	100%	178.39%	85.19%	91.38%	97.83%	-
Net Margin	-	-29.81%	36.8%	59.32%	-19006.88%	17799.23%	-2465.06%	-495.23%	-662.26%	-
Debt / Equity	-	-	0.23x	0.00x	0.02x	0.03x	0.07x	-	-	-
Interest Coverage	-19.60x	-4.62x	17.86x	85.60x	-1172.08x	-	-1232.68x	-1621.89x	-1314.49x	-1511.34x
FCF Conversion	0.92x	-0.97x	0.07x	-0.61x	-1.84x	0.67x	0.83x	1.18x	1.06x	1.23x
Revenue Growth	-100%	-	50.11%	-10.18%	-99.8%	-259.84%	878.62%	230.53%	-7.49%	-100%

Revenue by Segment

	2021	2022
Product Revenue	4.75M	1.22M
Product Revenue Growth	-	-74.32%
License and Contract	94.69K	-
License and Contract Growth	-	-

Frequently Asked Questions

Growth & Financials

Palatin Technologies, Inc. (PTN) reported $8.8M in revenue for fiscal year 2025. This represents a 11899% increase from $0.1M in 2012.

Palatin Technologies, Inc. (PTN) saw revenue decline by 100.0% over the past year.

Palatin Technologies, Inc. (PTN) reported a net loss of $4.8M for fiscal year 2025.

Dividend & Returns

Palatin Technologies, Inc. (PTN) had negative free cash flow of $15.9M in fiscal year 2025, likely due to heavy capital investments.

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Palatin Technologies, Inc. (PTN) 10-Year Financial Performance & Capital Metrics

PTN • • Industrial / General

HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesDermatology & Autoimmune

Revenue $0 -100.0%
EBITDA -$22M -1.3%
Net Income -$17M +41.8%
EPS (Diluted) -32.15 -1491.6%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -
ROIC -
Debt/Equity -
Interest Coverage -1511.34 -15.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 99 (top 1%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 96.3% through buybacks
✓Healthy 5Y average net margin of 3544.2%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM271.1%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM85.15%

EPS CAGR

10Y-

5Y-

3Y-

TTM-950.37%

ROCE

10Y Avg-273.76%

5Y Avg-396.73%

3Y Avg-721.49%

Latest-

Peer Comparison

Dermatology & Autoimmune

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AUPHAurinia Pharmaceuticals Inc.	1.96B	14.87	378.37	33.97%	29.28%	21.28%	2.25%	0.21
ARGXargenx SE	50.33B	813.24	63.63	78.6%	23.34%	15.14%		0.01
INVAInnoviva, Inc.	1.48B	19.76	54.89	15.54%	32.78%	12.61%	12.75%	0.65
GLPGGalapagos N.V.	2.24B	34.03	30.38	14.99%	-151.94%	-15.16%		0.00
PTGXProtagonist Therapeutics, Inc.	5.3B	84.75	20.04	6.24%	21.94%	7.11%	3.45%	0.02
ALMSAlumis Inc. Common Stock	2.84B	24.17	-2.33		-11.08%	-63.71%		0.12
PHATPhathom Pharmaceuticals, Inc.	1.17B	14.98	-2.83	80.01%	-186.53%
ORKAOruka Therapeutics, Inc.	1.57B	32.50	-6.51			-22.44%		0.00

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	0	44.72M	67.13M	60.3M	117.99K	-188.6K	1.47M	4.85M	4.49M	0
Revenue Growth %	-1%	-	0.5%	-0.1%	-1%	-2.6%	8.79%	2.31%	-0.07%	-1%
Cost of Goods Sold+	43.05K	45.68M	32.57M	14.86M	0	147.84K	217.53K	418.47K	97.64K	258.92K
COGS % of Revenue	-	1.02%	0.49%	0.25%	-	-0.78%	0.15%	0.09%	0.02%	-
Gross Profit+	-43.05K	-959.35K	34.57M	45.44M	117.99K	-336.44K	1.25M	4.44M	4.39M	-258.92K
Gross Margin %	-	-0.02%	0.51%	0.75%	1%	1.78%	0.85%	0.91%	0.98%	-
Gross Profit Growth %	1%	-21.28%	37.03%	0.31%	-1%	-3.85%	4.72%	2.55%	-0.01%	-1.06%
Operating Expenses+	49.25M	55.29M	41.21M	24.56M	23.72M	33.05M	37.84M	36.89M	26.89M	22.45M
OpEx % of Revenue	-	1.24%	0.61%	0.41%	201.08%	-175.23%	25.77%	7.6%	5.99%	-
Selling, General & Admin	6.18M	9.61M	8.64M	9.7M	9.77M	17.34M	16.51M	15.29M	12.27M	7.55M
SG&A % of Revenue	-	0.21%	0.13%	0.16%	82.77%	-91.93%	11.24%	3.15%	2.73%	-
Research & Development	43.07M	45.68M	32.57M	14.86M	13.96M	12.93M	21.33M	22.63M	22.4M	14.9M
R&D % of Revenue	-	1.02%	0.49%	0.25%	118.31%	-68.54%	14.52%	4.66%	4.99%	-
Other Operating Expenses	0	0	0	0	0	2.78M	0	-1.03M	-7.78M	0
Operating Income+	-49.25M	-10.57M	25.93M	35.74M	-23.61M	-33.38M	-36.59M	-32.46M	-22.5M	-22.71M
Operating Margin %	-	-0.24%	0.39%	0.59%	-200.08%	177.01%	-24.92%	-6.69%	-5.01%	-
Operating Income Growth %	-1.85%	0.79%	3.45%	0.38%	-1.66%	-0.41%	-0.1%	0.11%	0.31%	-0.01%
EBITDA+	-49.21M	-10.54M	25.98M	35.8M	-23.54M	-33.33M	-36.1M	-32.17M	-22.16M	-22.45M
EBITDA Margin %	-	-0.24%	0.39%	0.59%	-199.53%	176.74%	-24.59%	-6.63%	-4.93%	-
EBITDA Growth %	-1.87%	0.79%	3.47%	0.38%	-1.66%	-0.42%	-0.08%	0.11%	0.31%	-0.01%
D&A (Non-Cash Add-back)	43.05K	33.05K	56.57K	58.63K	64.2K	51.12K	486.02K	288.33K	339.07K	258.92K
EBIT	-49.25M	-10.54M	25.93M	35.74M	-22.41M	-33.6M	-36.17M	-28.69M	-29.72M	-17.29M
Net Interest Income+	-2.51M	-2.29M	-1.45M	-417.56K	-20.14K	23.57K	-29.68K	-20.01K	-17.11K	-15.03K
Interest Income	0	0	0	0	0	23.57K	0	0	0	0
Interest Expense	2.51M	2.29M	1.45M	417.56K	20.14K	0	29.68K	20.01K	17.11K	15.03K
Other Income/Expense	-2.46M	-2.26M	-1.14M	28.71K	1.18M	-212.39K	390.15K	3.75M	-7.24M	5.4M
Pretax Income+	-51.71M	-12.83M	24.79M	35.77M	-22.43M	-33.6M	-36.2M	-28.71M	-29.74M	-17.31M
Pretax Margin %	-	-0.29%	0.37%	0.59%	-190.07%	178.14%	-24.65%	-5.92%	-6.62%	-
Income Tax+	0	500K	82.5K	0	0	0	0	-4.67M	0	0
Effective Tax Rate %	1%	1.04%	1%	1%	1%	1%	1%	0.84%	1%	1%
Net Income+	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.57M	-36.2M	-24.04M	-29.74M	-17.31M
Net Margin %	-	-0.3%	0.37%	0.59%	-190.07%	177.99%	-24.65%	-4.95%	-6.62%	-
Net Income Growth %	-1.93%	0.74%	2.85%	0.45%	-1.63%	-0.5%	-0.08%	0.34%	-0.24%	0.42%
Net Income (Continuing)	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.6M	-36.2M	-24.04M	-29.74M	-17.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-8.26	-1.81	2.98	4.12	-2.38	-3.55	-3.79	-2.21	-2.02	-32.15
EPS Growth %	-1.26%	0.78%	2.65%	0.38%	-1.58%	-0.49%	-0.07%	0.42%	0.09%	-14.92%
EPS (Basic)	-8.26	-1.81	3.12	4.31	-2.38	-3.55	-3.79	-2.21	-2.02	-32.15
Diluted Shares Outstanding	6.26M	7.36M	8.28M	8.69M	9.39M	9.47M	9.54M	10.89M	14.7M	538.35K
Basic Shares Outstanding	6.26M	7.36M	7.92M	8.31M	9.39M	9.47M	9.54M	10.89M	14.7M	538.35K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	10.81M	56.58M	38.51M	104.41M	83.59M	65.91M	34.6M	16.32M	9.77M	2.92M
Cash & Short-Term Investments	9.38M	40.45M	38M	43.51M	82.85M	60.1M	29.94M	10.98M	9.53M	2.56M
Cash Only	8M	40.2M	38M	43.51M	82.85M	60.1M	29.94M	7.99M	9.53M	2.56M
Short-Term Investments	1.38M	249.84K	0	0	0	0	0	2.99M	0	0
Accounts Receivable	0	15.12M	0	60.27M	0	1.58M	1.78M	2.92M	0	29.47K
Days Sales Outstanding	-	123.37	-	364.79	-	-3.06K	442.44	219.27	-	-
Inventory	0	840.03K	0	149.74K	0	1.16M	944.47K	526K	0	0
Days Inventory Outstanding	-	6.71	-	3.68	-	2.87K	1.58K	458.79	-	-
Other Current Assets	143.86K	171.19K	325.09K	487.55K	609.85K	2.35M	1.12M	1.08M	147.25K	325.69K
Total Non-Current Assets+	244.23K	255.07K	502.95K	321.45K	1.46M	1.39M	1.47M	1.62M	972.6K	347.53K
Property, Plant & Equipment	97.8K	198.15K	164.03K	141.54K	1.41M	1.33M	1.42M	1.56M	915.68K	290.61K
Fixed Asset Turnover	-	225.70x	409.27x	426.03x	0.08x	-0.14x	1.04x	3.11x	4.90x	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	146.43K	56.92K	338.92K	179.92K	56.92K	56.92K	56.92K	56.92K	56.92K	56.92K
Total Assets+	11.05M	56.83M	39.02M	104.74M	85.05M	67.3M	36.07M	17.94M	10.74M	3.27M
Asset Turnover	-	0.79x	1.72x	0.58x	0.00x	-0.00x	0.04x	0.27x	0.42x	-
Asset Growth %	-0.63%	4.14%	-0.31%	1.68%	-0.19%	-0.21%	-0.46%	-0.5%	-0.4%	-0.7%
Total Current Liabilities+	13.99M	54.96M	10.76M	4.19M	3.93M	10.51M	16.26M	15.13M	9.66M	8.01M
Accounts Payable	713.89K	1.55M	2.22M	504.79K	715.67K	640.65K	3.16M	4.3M	4.1M	7M
Days Payables Outstanding	6.05K	12.4	24.92	12.4	-	1.58K	5.3K	3.75K	15.33K	9.87K
Short-Term Debt	5.37M	7.82M	5.95M	332.9K	0	0	0	0	0	0
Deferred Revenue (Current)	0	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	0	0	487.49K	499.52K	0	3.72M	7.3M	5.42M	2.72M	0
Current Ratio	0.77x	1.03x	3.58x	24.94x	21.28x	6.27x	2.13x	1.08x	1.01x	0.36x
Quick Ratio	0.77x	1.01x	3.58x	24.91x	21.28x	6.16x	2.07x	1.04x	1.01x	0.36x
Cash Conversion Cycle	-	117.69	-	356.07	-	-1.77K	-3.27K	-3.08K	-	-
Total Non-Current Liabilities+	14.64M	7.04M	1.29M	0	953.35K	7.13M	3.54M	4.79M	1.2M	33.97K
Long-Term Debt	14.11M	6.28M	332.9K	0	0	0	0	0	0	0
Capital Lease Obligations	14.32K	0	0	0	953.35K	900.52K	681.8K	590.34K	163.78K	33.97K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	439.13K	753.96K	456.04K	0	0	6.23M	2.86M	4.2M	1.03M	0
Total Liabilities	28.64M	62M	12.05M	4.19M	4.88M	17.65M	19.8M	19.92M	10.85M	8.04M
Total Debt+	19.72M	14.12M	6.28M	332.9K	1.27M	1.25M	1.15M	1.05M	590.34K	163.78K
Net Debt	11.71M	-26.08M	-31.72M	-43.18M	-81.59M	-58.85M	-28.79M	-6.94M	-8.94M	-2.4M
Debt / Equity	-	-	0.23x	0.00x	0.02x	0.03x	0.07x	-	-	-
Debt / EBITDA	-	-	0.24x	0.01x	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-1.22x	-1.21x	-	-	-	-	-	-
Interest Coverage	-19.60x	-4.62x	17.86x	85.60x	-1172.08x	-	-1232.68x	-1621.89x	-1314.49x	-1511.34x
Total Equity+	-17.59M	-5.16M	26.96M	100.55M	80.17M	49.65M	16.27M	-1.98M	-111.5K	-4.78M
Equity Growth %	-2.44%	0.71%	6.22%	2.73%	-0.2%	-0.38%	-0.67%	-1.12%	0.94%	-41.84%
Book Value per Share	-2.81	-0.70	3.26	11.58	8.54	5.25	1.70	-0.18	-0.01	-8.87
Total Shareholders' Equity	-17.59M	-5.16M	26.96M	100.55M	80.17M	49.65M	16.27M	-1.98M	-111.5K	-4.78M
Common Stock	685.68K	1.61M	2.01M	2.27M	2.29M	92.02K	92.71K	116.57K	179.27K	9.3K
Retained Earnings	-343.41M	-356.74M	-332.05M	-295.77M	-318.2M	-351.8M	-387.99M	-412.03M	-441.77M	-459.07M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.94K	-590	-2.34M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	-47.36M	12.88M	1.7M	-21.78M	41.33M	-22.65M	-29.92M	-28.42M	-31.46M	-21.31M
Operating CF Margin %	-	0.29%	0.03%	-0.36%	350.26%	120.09%	-20.38%	-5.86%	-7.01%	-
Operating CF Growth %	-2.55%	1.27%	-0.87%	-13.79%	2.9%	-1.55%	-0.32%	0.05%	-0.11%	0.32%
Net Income	-51.71M	-13.33M	24.7M	35.77M	-22.43M	-33.6M	-36.2M	-27.54M	-29.74M	-17.31M
Depreciation & Amortization	43.05K	33.05K	56.57K	58.63K	64.2K	51.12K	126.67K	288.33K	339.07K	258.92K
Stock-Based Compensation	1.84M	1.76M	3.52M	3.48M	3.14M	3.17M	2.51M	1.41M	1.87M	1.38M
Deferred Taxes	0	0	-500K	0	0	212.53K	0	-392.27K	0	0
Other Non-Cash Items	327.48K	298.79K	175.49K	51.23K	299K	19.42M	203.92K	166.26K	-530.25K	-4.88M
Working Capital Changes	2.14M	24.12M	-26.25M	-61.15M	60.25M	-11.9M	3.44M	-2.35M	-3.41M	-758.79K
Change in Receivables	0	-15.12M	15.12M	-60.27M	60.27M	-1.58M	-199.58K	-1.14M	2.92M	-29.47K
Change in Inventory	0	3.04M	-7.68M	781.07K	0	-987.24K	217.53K	418.47K	-1.15M	0
Change in Payables	-392.59K	837.48K	672.33K	-1.72M	210.88K	-75.02K	2.57M	1.11M	-201.6K	2.9M
Cash from Investing+	-1.4M	991.6K	227.55K	-36.14K	-62.88K	-5.72K	-261.37K	-3.43M	12.45M	3.13M
Capital Expenditures	-17.7K	-133.4K	-22.45K	-36.14K	-62.88K	-5.72K	-261.37K	-433.93K	-42.53K	0
CapEx % of Revenue	-	0%	0%	0%	0.53%	-0.03%	0.18%	0.09%	0.01%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.39M	1.13M	250K	0	0	0	0	0	0	3.13M
Cash from Financing+	29.47M	18.32M	-4.13M	27.33M	-1.92M	-93.64K	18.36K	9.9M	20.55M	11.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-336.48K	161.65K	2.63M	693.17K	-2.67M	0	296.13K	-145.98K	5.99M	3.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-47.38M	12.75M	1.68M	-21.82M	41.26M	-22.65M	-30.18M	-28.85M	-31.5M	-21.31M
FCF Margin %	-	0.29%	0.03%	-0.36%	349.72%	120.12%	-20.55%	-5.94%	-7.02%	-
FCF Growth %	-2.55%	1.27%	-0.87%	-13.98%	2.89%	-1.55%	-0.33%	0.04%	-0.09%	0.32%
FCF per Share	-7.57	1.73	0.20	-2.51	4.40	-2.39	-3.16	-2.65	-2.14	-39.58
FCF Conversion (FCF/Net Income)	0.92x	-0.97x	0.07x	-0.61x	-1.84x	0.67x	0.83x	1.18x	1.06x	1.23x
Interest Paid	0	0	1.08M	0	19.22K	0	0	0	0	15.03K
Taxes Paid	0	0	500K	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	226.63%	56.11%	-24.82%	-51.71%	-109.83%	-336.46%	-	-
Return on Invested Capital (ROIC)	-	-	-	101.9%	-63.28%	-	-	-	-	-
Gross Margin	-	-2.15%	51.49%	75.36%	100%	178.39%	85.19%	91.38%	97.83%	-
Net Margin	-	-29.81%	36.8%	59.32%	-19006.88%	17799.23%	-2465.06%	-495.23%	-662.26%	-
Debt / Equity	-	-	0.23x	0.00x	0.02x	0.03x	0.07x	-	-	-
Interest Coverage	-19.60x	-4.62x	17.86x	85.60x	-1172.08x	-	-1232.68x	-1621.89x	-1314.49x	-1511.34x
FCF Conversion	0.92x	-0.97x	0.07x	-0.61x	-1.84x	0.67x	0.83x	1.18x	1.06x	1.23x
Revenue Growth	-100%	-	50.11%	-10.18%	-99.8%	-259.84%	878.62%	230.53%	-7.49%	-100%

Revenue by Segment

	2021	2022
Product Revenue	4.75M	1.22M
Product Revenue Growth	-	-74.32%
License and Contract	94.69K	-
License and Contract Growth	-	-

Frequently Asked Questions

Growth & Financials

Palatin Technologies, Inc. (PTN) reported $8.8M in revenue for fiscal year 2025. This represents a 11899% increase from $0.1M in 2012.

Palatin Technologies, Inc. (PTN) saw revenue decline by 100.0% over the past year.

Palatin Technologies, Inc. (PTN) reported a net loss of $4.8M for fiscal year 2025.

Dividend & Returns

Palatin Technologies, Inc. (PTN) had negative free cash flow of $15.9M in fiscal year 2025, likely due to heavy capital investments.