Palatin Technologies (PTN) Stock Is Up On Female Viagra

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Palatin Technologies, Inc. (NYSEMKT: PTN)

Palatin Technologies is having an incredible day in the market today after the FDA approved a different companies drug for female sexual dysfunction. Today, we’ll talk about what drug was approved, why it affects PTN and what we can expect to see moving forward.

Sprout Pharmaceuticals Receives Approval For Addyi

Addyi is Sprout Pharmaceuticals’ drug that’s designed to treat women with sexual dysfunction. In the media, the drug has been called the “female Viagra”. However, approval didn’t come without a fight. As a matter o ffact, Sprout Pharmaceuticals has submitted three New Drug Applications with the Food and Drug Administration; two of which were obviously declined. However, today, the drug was approved to treat acquired, generalized hypoactie sexual desire disorde in premenopausal women; which is the most common form of female sexual dysfunction.

Why Does This Have Anything To Do With PTN?

While Palatin Technologies is in no way connected to Sprout Pharmaceuticals, the news is proving to be great for PTN. That’s because the company is in the process of developing their own drug for the treatment of sexual dysfunction in women. Palatin’s drug candidate for this disorder is known as Bremelanotide and is currently in the process of phase 3 testing in the United States. The study is looking into the treatment’s effect on about 550 premenopausal women currently dealing with hypoactive sexual desire disorder; also known as HDD. Investors are expecting to see top-line data from this study in mid-2016.

How The Market Is Reacting To The News

In morning trading PTN climbed by more than 20%. However, we’ve already seen a correction that’s bringing the stock down to a more sustainable rate. Currently (12:45), PTN is trading at $0.99 per share after a gain of 5.32% so far today.

What We Can Expect To See Moving Forward

Moving forward, I’m expecting to see relatively positive news. The fact that Sprout Pharmaceuticals’ drug has been approved is a major milestone for any company looking to create a treatment for female sexual dysfunction; including PTN. With that said, we may see more declines from highs today, but chances are that in the overall scheme of things, we are likely to see more gains moving forward.

What Do You think?

Where do you think PTN is headed and why? Let us know in the comments below!

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Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

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