Palatin receives NYSE American notice of delisting, plans to appeal

Palatin (PTN) Technologies announced today that on April 10, NYSE American publicly announced and provided a notice to the company that NYSE Regulation has determined to commence proceedings to delist the company’s common stock from NYSE American. NYSE Regulation has determined the company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide as the company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii), related to stockholders’ equity requirements, by the end of the maximum 18-month compliance plan period, which expired on April 10. The company has a right to a review of the NYSE Regulation determination to delist the Common Stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. The company’s request for such a review must be made by April 25. The company intends to appeal such determination to delist the Common Stock. The company expects the Common Stock to continue to trade on NYSE American during the appeal process.