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Palatin (PTN) to Report Q2 Earnings: What's in the Cards?

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Investors will focuson Vyleesi sales when Palatin Technologies, Inc. PTN will report results for the second quarter fiscal 2021.

Shares of the company have rallied 54.8% in the past year compared with the industry’s 12.8% rally.

In the last reported quarter, it delivered an earnings surprise of 33.3%. Moreover, Palatin delivered an average surprise of 11.1% in the trailing four quarters.

Let’s see how things have shaped up prior to the upcoming results.

Factors Likely to Impact Q2 Results

Palatin’s drug-Vyleesi (bremelanotide injection) — a melanocortin receptor agonist — was approved by the FDA for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder (HSDD). The drug generated gross sales of $809,100 for the Jul 25 to Sep 30 period.

In July 2020, Palatin announced the mutual termination of the License Agreement with AMAG Pharmaceutical, Inc. AMAG for Vyleesi. Under the termination agreement, Palatin regained all North American development and commercialization rights for Vyleesi.

Palatin has been exploring options to enhance the commercialization of Vyleesi, including discussions with potential collaboration partners that currently market female healthcare products. The company has been committed to work with payers and healthcare professionals to ensure that women with HSDD have continued and affordable access to Vyleesi.

In December 2020, it announced positive results in the phase II study of the melanocortin agonist, PL9643, for the treatment of dry eye disease. Statistically significant improvement in multiple signs and symptoms was achieved in the moderate to severe patient population after 2 weeks of dosing and at the 12-week visit. However, statistical significance for the primary endpoints was not reached in the overall enrolled population.

The company has been continuing with assessment and development work related to the treatment of patients with diabetic retinopathy, with an investigational new drug (IND) filing targeted in mid-calendar year 2021.

Palatin has been advancing the COVID-19 development plan, and conducting all the required activities needed to file an IND and begin clinical studies with PL8177 as a treatment in COVID-19 patients.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Palatin for the to-be-reported quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. But that is not the case here, as you will see below.

Earnings ESP: Palatin has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at a loss of 2 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks That Warrant a Look

Here are some biotech stocks with the right mix of elements to beat on earnings this time around:

Atea Pharmaceuticals Inc. AVIR has an Earnings ESP of +279.59% and a Zacks Rank #2.

Cara Therapeutics Inc. CARA has an Earnings ESP of +34.38% and a Zacks Rank #3.

Palatin Technologies, Inc. Price and EPS Surprise

Palatin Technologies, Inc. Price and EPS Surprise
Palatin Technologies, Inc. Price and EPS Surprise

Palatin Technologies, Inc. price-eps-surprise | Palatin Technologies, Inc. Quote

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