Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Palatin Says Partner AstraZeneca To Stop Further AZD2820 Drug Development

Palatin Technologies, Inc. (PTN: Quote), a New Jersey-based Pharma company, Friday said its partner AstraZeneca will stop all further development of the obesity drug AZD2820.

AZD2820, a clinical candidate under development by AstraZeneca with Palatin, was halted following a serious adverse event in its Phase I trial, subsequently followed by AstraZeneca' decision to discontinue its development.

In addition, Palatin said it was eligible for milestone payments, subject to certain development and regulatory milestones with further payments on achievement of sales targets.

Thursday, Palatin closed at $0.64 on the NYSE market.

Click here to receive FREE breaking news email alerts for Palatin Technologie Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.