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Palatin Technologies (OTC:PTNT), Inc. (NYSE:PTN1) announced it received written notification from NYSE American stating that a Listing Qualifications Panel unanimously affirmed the decision to initiate delisting proceedings for the company’s common stock. The panel’s determination, disclosed Monday, was based on Sections 1003(a) and 1003(f)(v) of the NYSE American Company Guide, which relate to continued listing requirements, including the company’s low selling price.
According to the company’s statement in a Securities and Exchange Commission filing, a hearing on the proposed delisting was held before the panel on June 18, 2025. NYSE American had previously suspended trading of Palatin’s common stock on May 7, 2025. Following the suspension, the company’s shares traded on the Pink Market of the OTC Markets Group under the symbol "PTNT" from May 8 through June 6, 2025. Since June 9, 2025, Palatin’s common stock has traded on the OTCQB Market, also under the symbol "PTNT."
Palatin stated it intends to exercise its right to have the full Committee for Review reconsider the panel’s decision. The company must submit a written request for review within 15 calendar days of the panel’s notification. The appeal hearing before the full Committee for Review is expected to take place in late August or September 2025.
The company indicated it is actively working to resolve the NYSE American listing deficiencies prior to the upcoming appeal hearing.
This information is based on a statement in a press release and the company’s filing with the Securities and Exchange Commission.
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