Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 13, 2026

Palatin Technologies Inc (PTN)

A forensic read on Palatin Technologies Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

F · Poor — capital at risk

Forensic grade

Distress

Financial health

-504.9

Distress distance

Clean

Earnings quality

Forensic signals

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Palatin Technologies Inc earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -504.9, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 2 forensic signals were flagged in its latest SEC filings, led by cash burn vs. reported loss.

What the filings flag

-$82.0M

FY2023–FY2025

Cash burn vs. reported loss. Over FY2023–FY2025, the company reported a cumulative net loss of $71.1M against operating cash flow of -$82.0M. Cash burn ran heavier than the reported loss — something outside net income (working capital, a cash item not in the P&L) is consuming cash faster than the loss alone implies.

n/m (stock split)

FY2019–FY2025

Share count (stock split). Diluted share count changed -100% over the last 6 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -63.2%/yr figure isn't a real buyback/dilution read here.

Key fundamentals

Free Cash Flow-$21.3M

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Data from SEC EDGAR public filings · metrics as of Aug 13, 2026. Forensic signals flag probability, not certainty.