Biopharmaceutical company Palatin Technologies, Inc. (PTN) on Tuesday reported a net loss of $5.04 million or $0.02 per share for the second quarter, compared to net income of $3.03 million, or $0.01 per share in the prior-year quarter.
There were no revenues recorded in the quarter
On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenues of $400,000 for the quarter. Analysts’ estimates typically exclude special items.
The company decreased debt and related liabilities to $2.8 million at December 31, 2018 from $7.2 million at June 30, 2018.
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