Form 4: Palatin Technologies Executive Acquires Significant Preferred Stock and Warrants

Stephen T. Wills, Executive VP and CFO/COO of Palatin Technologies Inc., has acquired 1,500 shares of Series D Preferred Stock and 2,727,272 Series I warrants in a transaction valued at $150,000.

Summary

• Stephen T. Wills, Executive VP and CFO/COO of Palatin Technologies Inc. (PTN), acquired securities on June 13, 2025.
• The acquisition included 1,500 shares of Series D Preferred Stock, valued at $100 per share, totaling $150,000.
• Each Series D Preferred Stock share is convertible into common stock at an initial price of $0.11 per share, equating to 1,363,636 shares of common stock from this acquisition.
• Mr. Wills also acquired 2,727,272 Series I common stock purchase warrants.
• The Series D Preferred Stock and Series I warrants were sold as a combined offering at $0.11 per share of common stock obtainable from the Series D conversion.
• Following the transaction, Mr. Wills beneficially owns 1,640,756 shares (likely common stock equivalent) and 3,017,838 Series I warrants.

Sentiment

Score: 8

Explanation: The acquisition of a substantial amount of convertible preferred stock and warrants by a high-ranking executive indicates strong insider confidence in the company's future prospects and potential for stock appreciation. While there's a contingency for warrant exercisability, the overall signal is positive.

Positives

• Insider acquisition of preferred stock and warrants by a key executive (CFO/COO) indicates management's confidence in the company's future prospects.
• The acquisition of convertible preferred stock and warrants at a specific price point suggests a belief in the potential for common stock appreciation.

Risks

• The exercisability of the Series I warrants is contingent upon obtaining stockholder approval from NYSE American (or any successor entity), which introduces a condition precedent.

Future Outlook

The exercisability of Series I warrants is contingent on future stockholder approval from NYSE American or a successor entity, indicating a future event required for the full realization of the warrant's value.

Industry Context

This insider transaction signals management confidence within the biotechnology/pharmaceuticals sector, as a key executive is increasing their stake in the company.

Related Party Transactions

• The transaction itself is a related party transaction, as it involves an executive acquiring securities directly from the issuer.

Stakeholder Impact

• Shareholders: The insider purchase could be seen as a positive signal, potentially increasing investor confidence and demand for the stock.

Next Steps

• Obtain stockholder approval from NYSE American (or successor entity) for the exercisability of Series I warrants.

Key Dates

Recommendation

Keywords

Palatin Technologies, PTN, SEC Form 4, insider trading, Stephen T. Wills, Series D Preferred Stock, Series I warrants, convertible securities, beneficial ownership, executive acquisition