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
Amazon.com Inc. is working on developing a pair of smart glasses that would allow to summon and interact with virtual assistant Alexa while wearing the device, the Financial Times reported, citing people familiar with the plans. The glasses, which would be required to be connected wirelessly to a smartphone to work, is reportedly designed to look like a regular pair of spectacles. Employees at Bombardier Inc.'s aerospace plant in Toronto plan to walk out of the facility on Wednesday morning. The move is an attempt to put pressure on Boeing Co. to drop a trade complaint against the Canadian plane and train maker. The Baltimore Ravens, a professional American football team, postponed its "DNA Day" event just hours before this season's home opener last Sunday. Orig3n Inc., a Boston-based biotech company sponsoring the event, said in a statement that it is "working to address questions from officials from the state of Maryland."
comments powered by Disqus
Follow RTT