“We attribute this to the relaunch of and its first-to-market status, following reacquisition of the drug from the complete failure of the launch in Valeant’s hands. Sprout’s relaunch of the drug is based on the following parameters: (1) lowering the monthly price of the drug to $400 from $800; and (2) focusing its marketing effort on telehealth, or rather obtaining a prescription by phone with about five questions from a physician (we believe Sprout does not have the finances to field a salesforce). Overall, we believe the weakness is unwarranted based on our investment case for bremelanotide (discussed below) and Palatin overall. First-to-market status still not a good thing; don’t forget Addyi’s sketchy history.”
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Palatin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $5.
Palatin Technologies’ market cap is currently $183.8M and has a P/E ratio of 7.44. The company has a Price to Book ratio of 17.97.
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Palatin Technologies, Inc. is a biopharmaceutical company which develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. It specializes in molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
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