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Palatin Technologies

PTN on Nasdaq. Market value $17m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 25 funds in all.

Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

  • at least 10.0%
    (filed with 1 related holder)
    Since 28 November 2025
  • at least 9.9%0.0 pts
    (filed with 5 related holders)
    Since 31 March 2026
  • Sirenia Capital Management LP
    Passive investor
    at least 9.9%
    (filed with 1 related holder)
    Since 31 March 2026
  • 9.8%
    Since 31 December 2025
  • Armistice Capital, LLC
    Passive investor
    at least 5.0%−3.5 pts
    (filed with 1 related holder)
    Since 31 March 2025
  • AuGC BioFund LP
    Passive investor
    at least 4.7%−0.6 pts
    (filed with 2 related holders)
    Since 30 June 2026
  • Sold down below 5%
    Since 31 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $9,458, $9,458 of it under preset trading plans.

  • WILLS STEPHEN T
    Executive VP and CFO/COO
    Sold
    under a preset trading plan
    Date
    24 December 2025
    Shares
    565
    Price
    $16.74
    Value
    $9,458

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Palatin Technologies’ filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 28 Sep 2026, and no later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “Risks Related to Our Financial Results and Need for Financing Our management has determined that there is substantial doubt about our ability to continue as a going concern, which make it more difficult and more expensive for us to raise capital.”

    From the 10-K filed 28 September 2026, Item 1A. Risk Factors. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.