Palatin Technologies Inc. Q1 Loss decreases, but misses estimates

(RTTNews) - Palatin Technologies Inc. (PTN) announced Loss for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled -$5.89 million, or -$0.48 per share. This compares with -$8.26 million, or -$0.86 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 142.5% to $2.11 million from $0.87 million last year.

Palatin Technologies Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$5.89 Mln. vs. -$8.26 Mln. last year. -EPS (Q1): -$0.48 vs. -$0.86 last year. -Analyst Estimates: -$0.41 -Revenue (Q1): $2.11 Mln vs. $0.87 Mln last year.