Palatin Technologies Inc. Q4 Loss decreases, but misses estimates

(RTTNews) - Palatin Technologies Inc. (PTN) released Loss for fourth quarter that decreased from the same period last year but missed the Street estimates.

The company's earnings came in at -$10.71 million, or -$0.91 per share. This compares with -$12.77 million, or -$1.34 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn -$0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 128.6% to $1.76 million from $0.77 million last year.

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

-Earnings (Q4): -$10.71 Mln. vs. -$12.77 Mln. last year. -EPS (Q4): -$0.91 vs. -$1.34 last year. -Analyst Estimates: -$0.56 -Revenue (Q4): $1.76 Mln vs. $0.77 Mln last year.