logo
Share SHARE
FONT-SIZE Plus   Neg

Palatin Says Partner AstraZeneca To Stop Further AZD2820 Drug Development

Palatin Technologies, Inc. (PTN), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT