Palatin Technologies, Inc. · AMEX:PTN
Palatin Technologies — Investor Presentation (October 2026)
47 slides from Palatin Technologies's investor presentation, October 2026
Slide 1: Corporate Presentation October 2026
Palatin Technologies, Inc. Nasdaq: PTN CORPORATE PRESENTATION October 2026 Carl Spana, Ph.D. Stephen T. Wills, CPA/MST President & CEO CFO / COO
Slide 2: Forward Looking Statements
Forward Looking Statements The statements in this presentation that relate to future plans, events or performance are forward-looking statements, which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended. Such forward-looking statements involve si
Slide 3: Company Profile
Company Profile Technology platform – targeting the melanocortin system MC4R agonists therapeutics for syndromic and genetic obesity Demonstrated expertise moving programs from discovery to FDA approval Expertise in the biology and chemistry of melanocortin system (MCS) 1st company to gain FDA appro
Slide 4: Palatin Leadership
Palatin Leadership Strong team, with broad and extensive biopharma experience Stephen T. Wills, CPA/MST Carl Spana, PhD Chief Financial Officer and President and Chief Executive Officer Chief Operating Officer Co-founder with 25-plus years in drug 25-plus years in finance, operations, research, deve
Slide 5: Development Programs
Development Programs Novel ‘next generation’ MC4R selective agonists for treatment of rare neuroendocrine diseases Therapies for patients with obesity caused by an impaired leptin melanocortin-4 receptor (MC4R) pathway Focus on hypothalamic obesity (HO), Prader-Willi syndrome (PWS), and Bardet-Biedl
Slide 6: MC4R Obesity Programs
C o n MC4R Obesity Programs f MC4R pathway regulates obesity and energy management through satiety & food intake i d e n t i a l Central leptin-melanocortin pathway is a critical pathway that regulates feeding and body weight to maintain energy homoeostasis Disruption of this pathway, whether acquir
Slide 7: Novel "Next Generation" MC4R Selective Agonists
Novel "Next Generation" MC4R Selective Agonists Strategy / Focus Advancing three distinct and complementary treatment approaches to developing highly selective MC4R agonists: • Non-lipidated peptide program (PL1000 series) • Lipidated peptide program (PL2000 series) • Oral small-molecule program. De
Slide 8: Development Objective
Development Objective Four Goals Efficacy Ability to drive significant clinically meaningful weight loss— no trade-off for the other gains High MC4R selectivity with little to no MC1R agonism to reduce/eliminate MC1R-driven Pigmentation hyperpigmentation Tolerability Better than standard of care and
Slide 9: Therapies for the Treatment of Rare Obesity Disorders
Therapies for the Treatment of Rare Obesity Disorders Driven by Impaired MC4R Pathway Signaling • Hypothalamic Obesity (HO) • Prader-Willi Syndrome (PWS) • Bardet-Biedl Syndrome (BBS)
Slide 10: Hypothalamic Obesity (HO)
Hypothalamic Obesity (HO) A rare, acquired form of obesity following injury to the hypothalamus or congenital • Acquired HO o Craniopharyngioma — brain tumors near the hypothalamus and pituitary gland o Treatment (tumor resection, radiation, or both) can damage the hypothalamus, disrupting MC4R sign
Slide 11: Prader-Willi Syndrome (PWS)
Prader-Willi Syndrome (PWS) A complex, multi-system disorder • Two genetic origins o ~70% of cases: paternal chromosome 15 deletion in the critical region o ~30% of cases: maternal uniparental disomy of chromosome 15 • Clinical Hallmark o Hyperphagia — continuous, extreme hunger; patients never feel
Slide 12: Bardet-Biedl Syndrome (BBS)
Bardet-Biedl Syndrome (BBS) Affects multiple organ systems, significant morbidity and reduced quality of life • A multi-system ciliopathy o Rare genetic disorder from mutations affecting cilia function o Severe early-onset obesity driven by hyperphagia and impaired satiety o Also affects vision, cog
Slide 13: Rare MC4R Pathway Diseases - Prevalence
Rare MC4R Pathway Diseases - Prevalence High, Unmet, and Unsatisfied Need Hypothalamic Obesity (acquired) * ** *** 5,000–10,000 5,000–10,000 — Prader-Willi Syndrome **** ~20,000 — ~400,000 Bardet-Biedl Syndrome ***** 4,000–5,000 4,000–5,000 50,000–80,000 * U.S. estimates based on reported incidence
Slide 14: Three Approaches for Development of Next-Generation MC4R Agonists
Three Approaches for Development of Next–Generation MC4R Agonists Multiple Shots on Goal
Slide 15: Three Approaches for Development of Next-Generation MC4R Agonists
Three Approaches for Development of Next–Generation MC4R Agonists Multiple Shots on Goal Long-Acting Lipidated Goals for Orally Active Peptide Classic Cyclic Peptide • Lead candidate identified (PL10233) Small Molecule • Lead candidate identified (PL10288) • Good weight loss effects • Excellent weig
Slide 16: Melanocortin-4 Receptor (MC4R) Obesity Programs: Peptides
Melanocortin-4 Receptor (MC4R) Obesity Programs • Novel “Next Generation” MC4R Selective Agonists o Peptides - Once Weekly (or less frequent) Dosing ▪ PL1000 Series / Non-Lipidated (Classic Cyclic Peptides) ▪ PL2000 Series / Lipidated
Slide 17: Novel Next Generation MC4R Selective Peptide Agonists
Novel "Next Generation" MC4R Selective Peptide Agonists Legacy challenges of MC4R peptide agonists have been solved Current Therapy Challenges Palatin Achieved Solutions Palatin’s high-potency compounds with structural elements extend drug Injection Frequency residency time (≥ 1 week) Multiple struc
Slide 18: Novel Next Generation MC4R Selective Peptide Agonists
Novel "Next Generation" MC4R Selective Peptide Agonists First series / Second series First series of ‘next generation’ MC4R peptide agonists for obesity: • Palatin studies in MC4R knock-out models confirm weight loss is dependent on a functional MC4R • Next-generation class lead development candidat
Slide 19: Palatin compounds reduce MC1R agonism
Novel "Next Generation" Selective MC4R Peptide Agonists Palatin compounds reduce / (potentially) eliminate MC1R agonism Agonist MC4R EC50 (Emax) MC4R Selectivitya Bremelanotide 5.01 nM (91%) 0.05 Setmelanotide 0.66 nM (98%) 0.61 PL8905 4.99 nM (88%) 6.05 Not an agonist @ MC1R PL1000 <25 nM (>90%) PL
Slide 20: Dose-Dependent Efficacy of PL1000 in Diet-Induced Obese Mice
Dose-Dependent Efficacy of PL1000 in Diet-Induced Obese Mice Food Intake (6hr) Body Weight ✱✱✱✱ % Body weight change 0 150 ✱ Vehicle PL10233Low PL1000 Lowdose dose 100 -2 PL10233High Highdose dose AUC PL1000 50 -4 0 -6 se se e cl do do hi Ve w h ig Lo H 3 3 0 1 2 3 4 23 23 10 10 PL PL Day of Treatme
Slide 21: Cardiovascular Safety of PL1000 in Dog
Cardiovascular Safety of PL1000 in Dog at Exposure-Matched Doses PL1000 showed no blood pressure/CV effects in dog at tested exposures 21
Slide 22: Single Dose of PL2000 in DIO Mice
Single Dose of PL2000 in DIO Mice Equivalent efficacy to BID dosing of positive control PL8905 Body Weight (% Change) 5 % Body weight change Vehicle PL8905 (BID) 0 PL2000 (1 dose on day 0) -5 -10 0 1 2 3 4 Days of Treatment • PL2000 (1 dose on day 0) o Reduced body weight by 8.0% and 24-hr food inta
Slide 23: Single Dose of PL2001 in DIO Mice
Single Dose of PL2001 in DIO Mice Equivalent efficacy to BID dosing of positive control PL8905 Body Weight (% Change) Food Intake (24hr) ✱✱✱ ✱ 600 % Body weight change 0 Vehicle 1 Vehicle 2 400 PL8905 (BID) AUC -5 PL2001 (1 dose on day 0) 200 -10 0 ) 1 1 2 ID 00 le le (B 0 1 2 3 4 5 6 7 8 9 L2 ic ic
Slide 24: Long-acting once weekly SC peptides
Novel "Next Generation“ MC4R Selective Peptide Agonists Activities – long-acting once weekly administration SC peptides Advancing two complementary selective MC4R peptide series • Non-lipidated PL1000 and lipidated PL2000 • Compounds from both peptide series have demonstrated: o Potent MC4R agonist
Slide 25: MC4R Obesity Programs: Oral Small Molecules
Melanocortin-4 Receptor (MC4R) Obesity Programs • Novel “Next Generation” MC4R Selective Agonists o Oral Small Molecules – Daily Dosing
Slide 26: MC4R Selective Oral Small Molecule Program
Melanocortin-4 Receptor (MC4R) Obesity Programs MC4R selective oral small molecule program for treatment of rare MC4R pathway diseases Current Therapy Challenges Palatin Achieved Solutions Palatin identified small molecules show excellent preclinical oral Injection Frequency bioavailability Palatin
Slide 27: Orally Active Small Molecule
Orally Active Small Molecule Goals for orally active small molecule • Excellent weight loss activity • No MC1R agonism • No BP effects • Good physicochemical properties for optimal small molecule profile • All of these attributes are being combined into one entity for lead selection • A class of sma
Slide 28: Small Molecule Program
Small Molecule Program Novel “next generation” MC4R selective agonists: understanding what is required for success Historically, MC4R small molecule programs have failed due to a lack of understanding the receptor biology and the structure/function relationship that determine weight loss versus side
Slide 29: MC4R Selective Oral Small Molecule Program
MC4R Selective Oral Small Molecule Program Palatin proprietary in vitro screening advantage Industry wide screening used high receptor expression systems resulting in lead molecules with poor drugability • Highlighted box indicates druglike properties • Each point represents an MC4R small molecule •
Slide 30: Multiple Small-Molecule Chemotypes Demonstrate Strong MC4R Selectivity
Multiple Small-Molecule Chemotypes Demonstrate Strong MC4R Selectivity >300-fold MC1R binding selectivity achieved across distinct chemical series MC1R/MC4R binding Agonist MC4R EC50 (Emax) Selectivitya Bremelanotide 5 nM (91.0%) 0.05 Setmelanotide 0.66 nM (98.8%) 0.61 Series A 2 nM (66%) 40 Series
Slide 31: Next Generation MC4R Selective Oral Small Molecule Agonists
"Next Generation“ MC4R Selective Oral Small Molecule Agonists Activities – High MC4R potency and solving MC1R selectivity/activity Palatin is developing oral small-molecule MC4R selective agonists as a third and complementary treatment approach • Objective is to develop an oral MC4R agonist capable
Slide 32: Next steps and development timeline overview
Melanocortin-4 Receptor (MC4R) Obesity Programs Next steps and development timeline overview Treating rare MC4R pathway diseases: primary focus on hypothalamic obesity (HO), Prader-Willi Syndrome (PWS) and Bardet-Biedl Syndrome (BBS) MC4R selective agonists • Long-acting peptide (weekly SC administr
Slide 33: MC4R Agonist Plus GLP-1/GIP For Generalized Obesity Management
MC4R Agonist Plus GLP-1/GIP For Generalized Obesity Management • Bremelanotide MC4R agonist Phase 1b clinical weight loss study in general obese subjects • Co-administration of Bremelanotide MC4R & Tirzepatide (GLP-1/GIP) o Bremelanotide (BMT) MC4R Agonist ✓ FDA Approved (Vyleesi® for Female HSDD)
Slide 34: Bremelanotide Phase 1b Obesity Study
C o n MC4R Agonist Generalized Obesity Management f Bremelanotide MC4R agonist obesity Phase 1b clinical weight loss study in general obese subjects i d e n t i 2-Week Study a l • General obese subjects: BMI ~35 o Bremelanotide: n=27 o Vehicle: n=26 • Weight loss: o Placebo -0.7kg; o Bremelanotide:
Slide 35: GLP-1/GIP plus MC4R agonist co-administration data
MC4R Agonist Generalized Obesity Management GLP-1/GIP agonist + MC4R agonist: co-administration clinical data* • No prospective studies have been done with combination pharmacotherapy • Previously published combination of setmelanotide plus 2.5mg of tirzepatide for obesity in BBS • 2 patients lost 2
Slide 36: BMT-801 Signal Detection Study Objectives
MC4R Agonist Generalized Obesity Management BMT-801 Phase 2 signal detection study objectives Co-Administration GLP1/GIP Agonist Tirzepatide (2.5mg Weekly) + MC4R Agonist Bremelanotide (1.25mg Daily) Main Research Questions • Does co-administration result in increased weight loss? • Does MC4R agonis
Slide 37: BMT-801 Study Design
MC4R Agonist Generalized Obesity Management BMT-801 Phase 2 signal detection study Co-Administration GLP1/GIP Agonist Tirzepatide & MC4R Agonist Bremelanotide Study Design: Randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of the addition of an MC4R agonist (BMT)
Slide 38: Co-administration additive effect - primary analysis
MC4R Agonist Generalized Obesity Management Co-administration additive effect – primary analysis Analysis for Additive Effect Percent of Subjects with ≥4% Reduction in Percent Weight Loss at End of Study 60 Group 1 Group 2 Group 3 Group 4 Group 1: Tirzepatide (2.5 mg SC) weekly/BMT (1.25 mg SC) dail
Slide 39: Effect of co-administration on increased weight loss
MC4R Agonist Generalized Obesity Management Effect of co-administration on increased weight loss Weekly Change in Percent Body Weight (%) by Group 0 -0.5 • Comparison of Group 4 to -1 Group 3 during Treatment Period 2 demonstrates a Percent Change in % Weight -1.5 weight loss maintenance -2 effect -
Slide 40: Value of study results and next steps
MC4R Agonist Generalized Obesity Management BMT-801 MC4R/GLP-1-GIP co-administration detection study Value of the study results and next steps Confirmation that MC4R treatment with GLP-1/GIP can BMT-801 Study be additive without increasing safety and tolerability issues Support to perform co- Provid
Slide 41: Financial and Corporate; Spin-Out / Out-License Programs
Financial and Corporate Spin-Out / Out-License Programs Development Programs Overview Milestones Recap
Slide 42: Financial Snapshot / Cap Table
Financial Snapshot / Cap Table Financial Highlights as of June 30, 2026 Cash and Cash Equivalents $7.5 million Other Receivables $0.3 million No Debt Summary Capitalization as of September 30, 2026 Common Shares and Equivalent Common Stock 1.8 million shares Warrants (includes PF warrants of ~2.1M)
Slide 43: Spin-Out / Out-License Programs
Spin-Out / Out-License Programs Product/Indication R&D Phase 1 Phase 2 Phase 3 NDA Status/Next Steps Ocular Phase 3 MELODY-1 completed - positive data PL9643 MCR Agonist Phase 3 Melody-2 & -3 potential initiation 2H 2027 Dry eye disease (DED) Sublicense Agreement with Altanispac Labs Research Collab
Slide 44: Research Collaboration with Boehringer Ingelheim
Development Programs Overview Research Collaboration / License Agreement with Boehringer Ingelheim August 2025 €280M • Potential to develop first-in-class proprietary melanocortin receptor Potential milestones (~$328M) + tiered royalties treatment for patients with retinal diseases • Collaboration s
Slide 45: Development Programs Overview: Pipeline
Development Programs Overview Pipeline Obesity Development Programs Preclinical Phase 1 Phase 2 Phase 3 NDA Status/Next Steps Once-Weekly Peptide MC4R Agonists IND enabling – CMC activities ongoing Multiple obesity indications with focus on Phase 1 SAD/MAD start 1H 2027 / data 2H 2027 HO, PWS, BBS d
Slide 46: Milestones Recap
Milestones Recap Melanocortin System Development Programs Status Obesity - MC4R Selective Agonists – Treatment of Rare MC4R Pathway Diseases (Primary Focus HO, PWS, BBS) Phase 2 BMT-801 Clinical Study Bremelanotide + GLP-1 (proof-of-concept study only) – Positive Topline Data Reported Completed Once
Slide 47: Thank You
Thank You & PALATIN
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