Company Announcements

• Topical melanocortin therapy shows promise for treating glaucoma
• PL9588 lowers intraocular pressure (IOP) by increasing aqueous outflow
• Demonstrates neuroprotection independent of IOP reduction
• Supports continued development of PL9588 as a novel, dual-action glaucoma therapy

CRANBURY, N.J. , May 5, 2025 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company advancing innovative treatments targeting the melanocortin receptor system, today announced new preclinical data for PL9588, a novel melanocortin receptor agonist, presented at the 2025 Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting. The findings support the potential of PL9588 as a topical treatment for glaucoma, combining both IOP-lowering and neuroprotective effects.

The poster, titled "Activation of the Melanocortin System Increases Aqueous Outflow, Reduces Intraocular Pressure (IOP), and Protects Neurons in Glaucoma Models," was presented on May 4 by Dr. Alison Obr of Palatin. The full poster is available at www.palatin.com.

"Palatin is leading innovation in melanocortin science," said Carl Spana, Ph.D., President and Chief Executive Officer of Palatin. "Unlike current treatments that only lower intraocular pressure, PL9588 both reduces IOP and provides direct neuroprotection. This dual-action profile positions it as a potentially transformative therapy for glaucoma, and we are excited to move it forward into clinical development."

Key Preclinical Findings for PL9588:

• Reduces intraocular pressure via aqueous outflow mechanism
  • Increased fluid movement through the trabecular meshwork (TM) (p<0.05)
• Provides retinal neuroprotection independent of IOP lowering
  • Reduced retinal cell stress/death by ~25% in damaged retinas (p<0.05)
  •  Decreased retinal ganglion cell (RGC) death in an ischemia/reperfusion (I/R) model (p<0.0001)
• Supports dual-action in Glaucoma
  • Combines pressure reduction and neuronal protection
  • Clear mechanism of action supports further development

"Most current glaucoma therapies focus solely on lowering intraocular pressure," said Michael Raizman, M.D., Chief Medical Officer at Palatin. "Yet many patients still experience vision loss despite treatment. There remains a significant unmet need for therapies that go beyond pressure reduction — particularly those that can protect retinal neurons. PL9588 has the potential to address this critical gap."

These findings position PL9588 as a potential next-generation candidate in the evolving landscape of glaucoma therapeutics.

About Glaucoma
Glaucoma is a progressive, often pressure-related disease that damages the optic nerve, leading to irreversible blindness. It affects approximately 79.6 million people worldwide (2020) and is a leading cause of preventable vision loss. Most therapies today reduce IOP but lack neuroprotective effects.

According to Polaris Market Research, the global glaucoma market was valued at $5.71 billion in 2021 and is projected to reach $9.77 billion by 2030. This growth is driven by increasing prevalence and demand for innovative therapies.

About PL9588
PL9588 is a synthetic peptide that activates melanocortin receptors 1 and 5 (MC1R and MC5R). It is being developed as a topical treatment for glaucoma, targeting both IOP reduction and retinal cell protection.

About Melanocortin Receptor System
The melanocortin receptor (MCR) system plays a critical role in regulating inflammation, immune response, and tissue repair. MCR agonists have shown promise in restoring tissue homeostasis in ocular, gastrointestinal, and renal diseases. By activating natural resolution pathways, PL9588 and other melanocortin agonists represent a new class of anti-inflammatory, neuroprotective therapeutics.

About Palatin
Palatin is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor systems, with targeted, receptor-specific product candidates for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations to maximize their commercial potential. For additional information regarding Palatin, please visit Palatin's website at www.Palatin.com and follow Palatin on Twitter at @PalatinTech.

Forward-looking Statements
Statements in this press release that are not historical facts, including statements about future expectations of Palatin Technologies, Inc., such as statements about Palatin products in development, clinical trial results, potential actions by regulatory agencies, regulatory plans, development programs, proposed indications for product candidates, and market potential for product candidates are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Palatin intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Palatin's actual results to be materially different from its historical results or from any results expressed or implied by such forward-looking statements. Palatin's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions by the FDA and other regulatory and the need for regulatory approvals, Palatin's ability to fund development of its technology and establish and successfully complete clinical trials, the length of time and cost required to complete clinical trials and submit applications for regulatory approvals, products developed by competing pharmaceutical, biopharmaceutical and biotechnology companies, commercial acceptance of Palatin's products, and other factors discussed in Palatin's periodic filings with the Securities and Exchange Commission. Palatin is not responsible for updating events that occur after the date of this press release.

Palatin Technologies ^® is a registered trademark of Palatin Technologies, Inc.

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SOURCE Palatin Technologies, Inc.