10:46 AM EDT, 03/28/2025 (MT Newswires) -- Palatin Technologies ( PTN ) said Friday that topline results from its phase 2 study of PL8177 in patients with active ulcerative colitis showed clinical remission in 33% of treated patients after eight weeks of treatment, while none in the placebo group achieved remission.

Nine of the 12 patients received PL8177, and 78% of the treated group showed a clinical response, according to the company.

CEO Carl Spana said the strong data, along with prior findings, supports ongoing licensing discussions with multiple pharmaceutical companies.

Shares of Palatin ( PTN ) were down 7.6% in recent trading.

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