Palatin Technologies Management

Management criteria checks 3/4

Palatin Technologies' CEO is Carl Spana, appointed in Jun 2000, has a tenure of 23.83 years. total yearly compensation is $1.30M, comprised of 53.7% salary and 46.3% bonuses, including company stock and options. directly owns 0.6% of the company’s shares, worth $170.60K. The average tenure of the management team and the board of directors is 13.3 years and 18.8 years respectively.

Key information

Carl Spana

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	53.7%
CEO tenure	23.8yrs
CEO ownership	0.6%
Management average tenure	13.3yrs
Board average tenure	18.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Carl Spana's remuneration changed compared to Palatin Technologies's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-US$35m
Sep 30 2023	n/a	n/a	-US$25m
Jun 30 2023	US$1m	US$700k	-US$28m
Mar 31 2023	n/a	n/a	-US$25m
Dec 31 2022	n/a	n/a	-US$26m
Sep 30 2022	n/a	n/a	-US$37m
Jun 30 2022	US$1m	US$640k	-US$36m
Mar 31 2022	n/a	n/a	-US$37m
Dec 31 2021	n/a	n/a	-US$35m
Sep 30 2021	n/a	n/a	-US$37m
Jun 30 2021	US$2m	US$620k	-US$34m
Mar 31 2021	n/a	n/a	-US$27m
Dec 31 2020	n/a	n/a	-US$27m
Sep 30 2020	n/a	n/a	-US$22m
Jun 30 2020	US$2m	US$600k	-US$22m
Mar 31 2020	n/a	n/a	US$37m
Dec 31 2019	n/a	n/a	US$37m
Sep 30 2019	n/a	n/a	US$37m
Jun 30 2019	US$2m	US$505k	US$36m
Mar 31 2019	n/a	n/a	-US$5m
Dec 31 2018	n/a	n/a	US$344k
Sep 30 2018	n/a	n/a	US$8m
Jun 30 2018	US$3m	US$491k	US$25m
Mar 31 2018	n/a	n/a	US$26m
Dec 31 2017	n/a	n/a	US$23m
Sep 30 2017	n/a	n/a	US$10m
Jun 30 2017	US$2m	US$476k	-US$13m

Compensation vs Market: Carl's total compensation ($USD1.30M) is above average for companies of similar size in the US market ($USD667.11K).

Compensation vs Earnings: Carl's compensation has been consistent with company performance over the past year.

CEO

Carl Spana (61 yo)

23.8yrs

Tenure

US$1,303,800

Compensation

Dr. Carl Spana, Ph D., is a Co-Founder of Palatin Technologies Inc and has been its Chief Executive Officer and President since June 14, 2000. From June 1996 to June 14, 2000, Dr. Spana served as an Chief...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Carl Spana	Co-Founder	23.8yrs	US$1.30m	0.60% $ 170.6k
Stephen Wills	CFO, COO	26.4yrs	US$1.19m	2.03% $ 573.2k
Burns McClellan	Vice President of Investor Relations	no data	no data	no data
Stephen Slusher	Chief Legal Officer	no data	no data	no data
Michael Raizman	Chief Medical Officer	2.8yrs	no data	no data
James Hattersley	Senior Vice President of Business Development	2.8yrs	no data	no data
John Dodd	Senior Vice President of Preclinical Development	no data	no data	no data
Robert Jordan	Senior Vice President of Program Operations	no data	no data	no data

13.3yrs

Average Tenure

63yo

Average Age

Experienced Management: PTN's management team is seasoned and experienced (13.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Carl Spana	Co-Founder	27.8yrs	US$1.30m	0.60% $ 170.6k
John K. Prendergast	Independent Non-Executive Chairman	27.7yrs	US$154.88k	0.17% $ 48.8k
Arlene Morris	Independent Director	8.8yrs	US$97.47k	0.11% $ 30.8k
Robert deVeer	Independent Director	25.4yrs	US$112.47k	0.25% $ 71.5k
Alan Dunton	Independent Director	12.8yrs	US$112.47k	0.28% $ 78.9k
Anthony Manning	Independent Director	6.6yrs	US$97.47k	0.084% $ 23.6k
Raymond Rosen	Member of Female Sexual Dysfunction Expert Panel	no data	no data	no data
Michael Perelman	Member of Female Sexual Dysfunction Expert Panel	18.9yrs	no data	no data
J. Hull	Independent Director	18.6yrs	US$102.47k	0.11% $ 29.9k
Anita Clayton	Member of Female Sexual Dysfunction Expert Panel	no data	no data	no data
Leonard Derogatis	Member of Female Sexual Dysfunction Expert Panel	no data	no data	no data
Stanley Althof	Member of Female Sexual Dysfunction Expert Panel	no data	no data	no data

18.8yrs

Average Tenure

69yo

Average Age

Experienced Board: PTN's board of directors are seasoned and experienced ( 18.8 years average tenure).

Palatin Technologies Management

Management criteria checks 3/4

Key information

Recent management updates

Palatin Technologies, Inc., Annual General Meeting, Jun 20, 2023

Insufficient new directors

Palatin Technologies, Inc. Announces Appointment of Carl Spana as Chief Executive Officer Effective July 1, 2022

Palatin Technologies, Inc., Annual General Meeting, Jun 24, 2022

Insufficient new directors

Angela Rossetti, an Independent Director, Resigned from the Board of Directors of Palatin Technologies, Inc. and as A Member of the Company’s Audit Committee and Nominating and Corporate Governance Committee

Recent updates

Palatin Announces Phase 3 Pl9643 Melody-1 Dry Eye Disease (Ded) Clinical Data Results Presented At American Society of Cataract and Refractive Surgery (Ascrs) 2024

Price target decreased by 73% to US$11.50

Consensus revenue estimates fall by 65%

Consensus revenue estimates fall by 65%

No longer forecast to breakeven

Price target increased by 40% to US$60.00

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Palatin Announces Database Lock for PL9643 Melody-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED)

New major risk - Shareholder dilution

Palatin Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $10.000006 million.

New major risk - Share price stability

Palatin Technologies, Inc. Provides Corporate Update and Highlights Strategic Priorities for Year 2024

Forecast to breakeven in 2026

Consensus EPS estimates fall by 12%

Palatin Technologies Receives Notice of Acceptance of the Listing Standards Compliance Plan from NYSE American

First quarter 2024 earnings: EPS and revenues miss analyst expectations

Consensus EPS estimates upgraded to US$1.29 loss

Palatin Technologies, Inc. to Report Q1, 2024 Results on Nov 14, 2023

Palatin Technologies, Inc. announced that it expects to receive $5.000001 million in funding

New major risk - Share price stability

Palatin Technoloes, Inc. Announces Positive Preclinical Data Showing Synergistic Weight Loss; Initiating Clinical Study of Melanocortin 4 Receptor Agonist + GLP-1 in Obese Patients

Palatin Receives Notice of Non-Compliance from NYSE American

Palatin Receives Notice of Non-Compliance from NYSE American

Consensus revenue estimates increase by 28%

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Palatin Technologies, Inc. to Report Q4, 2023 Results on Sep 28, 2023

Palatin Technologies, Inc. Completes Enrollment in Phase 3 Melody-1 Study of PL9643 for the Treatment of Patients with Dry Eye Disease

Palatin Technologies, Inc. Initiates Clinical Program for Bremelanotide Co-Formulated with A Pde5i for the Treatment of Ed in Patients Non-Responsive to Pde5i Treatment

Palatin Technologies, Inc.'s Vyleesi Licensee Fosun Pharma Reports First Commercial Sale in China and South Korean Licensee Kwangdong Pharmaceuticals Completes Enrollment in Phase 3 Clinical Study

New minor risk - Share price stability

Consensus revenue estimates fall by 24%

Palatin Technologies, Inc., Annual General Meeting, Jun 20, 2023

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Palatin Technologies, Inc. to Report Q3, 2023 Results on May 16, 2023

Palatin Technologies, Inc. Presents PL8177 Ulcerative Colitis Data at Digestive Disease Week Annual Conference

Consensus revenue estimates decrease by 42%, EPS upgraded

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Palatin Technologies, Inc. to Report Q2, 2023 Results on Feb 15, 2023

Palatin Technologies Initiates Enrollment in the Phase 2 Bremelanotide BREAKOUT Study in Patients with Diabetic Kidney Disease

Frontiers in Immunology Publishes Pre-Clinical Study of Palatin's PL8177 Demonstrating Therapeutic Effects in Inflammatory Conditions

Consensus revenue estimates increase by 72%

Price target decreased to US$43.00

Insufficient new directors

Palatin Technologies, Inc. to Report Q1, 2023 Results on Nov 14, 2022

Palatin Technologies, Inc. has completed a Follow-on Equity Offering in the amount of $9.999921 million.

Palatin Technologies, Inc. Announces First Patient Has Been Enrolled in the Pl8177-205 Study with Palatin's Pl8177

Consensus forecasts updated

Consensus forecasts updated

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Palatin Technologies, Inc. to Report Q4, 2022 Results on Sep 22, 2022

Palatin Announces Initiation of Patient Recruitment for Phase 2 Clinical Study Evaluating Oral PL8177 for Treatment of Ulcerative Colitis

Palatin Reports Positive Interim Analysis in Phase 3 Pivotal Study of PL9643 in Patients with Dry Eye Disease

Palatin Technologies, Inc. Announces Appointment of Carl Spana as Chief Executive Officer Effective July 1, 2022

Palatin Technologies, Inc., Annual General Meeting, Jun 24, 2022

Consensus forecasts updated

Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Palatin Technologies, Inc. to Report Q3, 2022 Results on May 17, 2022

Price target increased to US$3.33

Insufficient new directors

Consensus forecasts updated

Consensus forecasts updated

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Palatin Technologies, Inc. to Report Q2, 2022 Results on Feb 15, 2022

Palatin Technologies, Inc. Announces Initiation of Pivotal Phase 3 Pl9643 Melody-1 Clinical Trial in Patients with Dry Eye Disease

First quarter 2022 earnings released: US$0.03 loss per share (vs US$0.017 loss in 1Q 2021)

Full year 2021 earnings released: US$0.14 loss per share (vs US$0.096 loss in FY 2020)

Palatin Technologies, Inc. Announces Presentation of Positive Protective Effects of PL8331 and PL9654 on Retinal Inflammation at the 2021 American Society of Retina Specialists (ASRS) Annual Meeting

Palatin Technologies, Inc. Announces Positive End-Of-Phase 2 Meeting with FDA on PL9643 for the Treatment of Dry Eye Disease

Consensus forecasts updated