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Palatin Stock To Begin Trading On Split-Adjusted Basis On Aug. 31

Palatin Technologies, Inc. (PTN) said it plans to effect a 1-for-25 reverse split of its issued and outstanding common stock, effective August 30, 2022. The company's common stock is expected to begin trading on a split-adjusted basis on August 31, 2022.

The reverse stock split will reduce the number of shares of the company's common stock outstanding from approximately 231,774,000 shares to approximately 9,271,000 shares, but will not change the authorized number of shares of common stock, which will remain at 300,000,000 shares.

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