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 came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
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.