NYSE American to Commence Delisting Proceedings Against Palatin Technologies, Inc. (PTN)

NEW YORK--(BUSINESS WIRE)--NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Palatin Technologies, Inc. (the “Company”) — ticker symbol PTN — from NYSE American.

NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide (the “Company Guide”) as the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii) of the Company Guide by the end of the maximum 18-month compliance plan period, which expired on April 10, 2025.

The Company has a right to a review of staff’s determination to delist the Company’s common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange (the “Panel”). Following such appeal, a decision by the Panel will be made and announced by NYSE American regarding either proceeding with suspension and delisting or continued trading in the Company’s common stock. If the Company does not appeal this determination, NYSE American will announce the date that trading in the Company’s common stock will be suspended. The filing of an application with the Securities and Exchange Commission to delist the Company’s common stock is pending completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.