Palatin Technologies Announced The Sale Of Vyleesi To Cosette Pharmaceuticals For Up To $171M, Vyleesi Is FDA-Approved For Premenopausal Women With Acquired, Generalized Hypoactive Sexual Desire Disorder
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Palatin Technologies has sold Vyleesi, an FDA-approved treatment for premenopausal women with Hypoactive Sexual Desire Disorder, to Cosette Pharmaceuticals for up to $171 million. The deal includes a $12 million upfront payment and up to $159 million in sales-based milestones. Palatin will now focus on its melanocortin receptor system-based development and clinical pipeline.
December 20, 2023 | 12:42 pm
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Palatin Technologies has divested its FDA-approved drug Vyleesi to Cosette Pharmaceuticals, with a $12 million immediate gain and potential for $159 million more based on sales milestones.
The sale of Vyleesi provides Palatin with immediate cash inflow and potential future earnings, which is positive for the company's financials. The focus on their development pipeline could signal growth prospects, likely leading to a positive short-term impact on PTN's stock price.
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