Palatin Announces Presentation at the Eyecelerator@AAO 2022 Conference

Overview of Development Pipeline of Melanocortins for Treatment of Ocular Conditions and Role in Resolving Inflammation

PL9643 Phase 3 Study Results in Dry Eye Disease Currently Expected 2Q 2023

Palatin Progressing Development Programs in Retinal and Front-of-the-Eye Indications Supported by Breakthrough Science

CRANBURY, N.J., Sept. 29, 2022 /PRNewswire/ -- Palatin Technologies, Inc. ("Palatin") (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, announced that Paul Kayne, Ph.D., Vice President of Biological Sciences at Palatin, presented today at the Eyecelerator@AAO in Chicago, IL. The presentation was one of several in the "Eyecelerator@ AAO 2022 - Therapeutics Showcase" general session.

Palatin's presentation included an overview of its development pipeline of melanocortins for inflammatory conditions, including several for ocular indications, and a summary of the role of melanocortins in resolving inflammation. The presentation focused on Palatin's research program with melanocortins in retinal disease, including genomics and proteomics data supporting the mechanism of action of melanocortins in the resolution of inflammation in retinal tissue. 

Eyecelerator is a partnership between the American Academy of Ophthalmology (AAO) and the American Society of Cataract and Refractive Surgery (ASCRS). Its mission is to connect entrepreneurs, investors, companies, and physicians to advance ophthalmic innovation through live conferences, virtual programming, and a next-generation networking platform.

Palatin is currently conducting a Phase 3 clinical study with PL9643 in patients for the treatment of dry eye disease with initial results expected in the second quarter of calendar year 2023. PL9643 is a novel melanocortin agonist, delivered to the eye topically via eyedrops. Palatin previously announced positive results in its Phase 2 study of PL9643 for the treatment of DED. 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. There were no safety signals identified and PL9643 had excellent ocular tolerability.

Palatin has several additional research programs for treatments of inflammatory conditions, both ocular and non-ocular. These research programs include extensive studies on the genomics and proteomics supporting the mechanism of action and role of melanocortins on the resolution of inflammation.

American Academy of Ophthalmology
The Academy is the world's largest association of eye physicians and surgeons. A global community of 32,000 medical doctors, it protects sight and empowers lives by setting the standards for ophthalmic education and advocating for patients and the public. The Academy innovates to advance the profession and to ensure the delivery of the highest-quality eye care. Through its EyeSmart® articles on AAO.org, the Academy provides the public with the most trusted information about eye health. For more information, visit aao.org.

ASCRS (American Society of Cataract and Refractive Surgery)
ASCRS is an international educational society with nearly 8,000 ophthalmic surgeons at every career stage. Its mission is to empower anterior segment surgeons to improve the vision, outcomes, and quality of life for their patients through innovative approaches to education, advocacy, and philanthropy. For more information, visit ascrs.org.

About Melanocortin Receptor Agonists and Inflammation
The melanocortin receptor ("MCr") system has effects on inflammation, immune system responses, metabolism, food intake, and sexual function. There are five melanocortin receptors, MC1r through MC5r. Modulation of these receptors, through use of receptor-specific agonists, which activate receptor function, or receptor-specific antagonists, which block receptor function, can have medically significant pharmacological effects.

Many tissues and immune cells located in the eye (and other places, for example the gut and kidney) express melanocortin receptors, empowering our opportunity to directly activate natural pathways to resolve disease inflammation.

About Palatin
Palatin is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor systems, with targeted, receptor-specific product candidates for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin's website at www.Palatin.com and follow Palatin on Twitter at @PalatinTech.

Forward-looking Statements
Statements in this press release that are not historical facts, including statements about future expectations of Palatin, such as statements about clinical trial plans and potential results for PL9643, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Palatin's actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements. Palatin's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions by the FDA and other regulatory and the need for regulatory approvals, Palatin's ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin's products,

and other factors discussed in Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating for events that occur after the date of this press release.

Palatin Technologies® and Vyleesi® are registered trademarks of Palatin Technologies, Inc.

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SOURCE Palatin Technologies, Inc.