Palatin Receives Notice Of Acceptance Of The Listing Standards Compliance Plan From NYSE American
Portfolio Pulse from Benzinga Newsdesk
Palatin Technologies, Inc. (NYSE:PTN) has received approval from NYSE American for its compliance plan to meet the Exchange's listing standards. Palatin must regain compliance by April 10, 2025, to avoid delisting. The company is exploring funding options to meet the stockholders' equity requirements of $2 million or $4 million, depending on its financial performance in recent fiscal years. The notice does not immediately affect Palatin's stock listing or trading, nor its business operations or SEC reporting requirements.
December 18, 2023 | 9:15 pm
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Palatin Technologies, Inc. has been approved by NYSE American for its compliance plan to address stockholders' equity requirements and avoid potential delisting by 2025.
The approval of Palatin's compliance plan by NYSE American is a positive development, indicating that the company has a clear path to maintain its listing. This news may instill confidence in investors about Palatin's commitment to meet the Exchange's requirements and could have a positive short-term impact on PTN's stock price. However, the company still needs to execute its plan successfully, and there is a timeline until 2025, which introduces some uncertainty.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100