Palatin Technologies Inc DEFA14A, filed Jun 29, 2020
Palatin Technologies Inc (PTN)
DEFA14A
2020-06-29
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October 21, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
Filed by the Registrant ☒
Filed by a Party other than the Registrant
☐
Check the appropriate box:
☐ Preliminary Proxy
Statement
☐ Definitive Proxy
Statement
☒ Definitive
Additional Materials
☐ Soliciting
Material under Rule 14a-12
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Palatin Technologies, Inc.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the
Registrant)
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Payment of Filing Fee (Check the appropriate box):
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required
☐ Fee computed on
table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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Palatin Technologies Announces Adjournment of
Annual Meeting of Stockholders
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Limited to Proposal 4, Amendment to Certificate of Incorporation to
Increase Authorized Common Stock
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Proposals 1, 2, 3 and 5 were approved at the Annual
Meeting
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Scheduled to Reconvene July 23, 2020, 9:00 am Eastern Daylight
Time
CRANBURY, NJ
– June 29, 2020 – Palatin Technologies, Inc.
(“Palatin”) (NYSE American: PTN) announced that its
2020 Annual Meeting of Stockholders that convened on June 25, 2020
has been adjourned until July 23, 2020 at 9:00 a.m. Eastern
Daylight Time to solicit additional proxies for Proposal 4,
approval of an amendment to our Certificate of Incorporation to
effect an increase in authorized common stock from 300,000,000
shares to 500,000,000 shares. The adjourned meeting will be a
completely “virtual” meeting of stockholders, and
stockholders will be able to listen and participate in the virtual
annual meeting as well as vote and submit your questions during the
live webcast of the meeting by visiting
http://www.virtualshareholdermeeting.com/PTN2020
and entering the 16‐digit control number included in your
Notice Regarding the Availability of Proxy Materials, on your proxy
card or in the instructions that accompanied your proxy
materials.
The
Board of Directors believes approval of Proposal 4 is in the best
interests of Palatin and its stockholders because even though
Palatin has sufficient operating cash for at least two years and
does not have any current plans to offer any additional stock in
the foreseeable future, an increase provides future flexibility and
the necessary resources Palatin requires to take advantage of any
strategic opportunities that could result in an increase in
stockholder value. Proposal 4 is described in more detail in
Palatin’s proxy statement dated May 11, 2020, furnished to
stockholders in connection with the 2020 Annual
Meeting.
We have seen significant stockholder support for
Proposal 4. At the time of the meeting, approximately 58% of the
shares that had been voted on Proposal 4 were voted in its favor.
However, the favorable votes were less than the absolute majority
of all outstanding shares, which is required for approval
of this proposal. Proposals 1, 2, 3
and 5 were approved at the Annual Meeting.
Palatin
encourages any stockholder that has not yet voted its shares on
Proposal 4 or is uncertain if their shares have been voted on
Proposal 4 to contact their broker or bank. The Board of Directors
and management respectfully requests stockholders as of the record
date, April 29, 2020, to please vote their proxies as soon as
possible, but no later than July 22, 2020 at 11:59 p.m. (Eastern
Time). Stockholders who have previously submitted their proxy or
otherwise voted for the annual meeting and who do not want to
change their vote need not take any action. For questions relating
to the voting of shares or to request additional or misplaced proxy
voting materials, please contact Palatin’s proxy advisory
group at melissacarlson@allianceadvisors.com.
As
described in the proxy statement, a stockholder may use one of the
following simple methods to vote before the July 23, 2020 adjourned
meeting with respect to Proposal 4:
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By Internet – www.proxyvote.com.
If you have Internet access, you may transmit your voting
instructions up until 11:59 p.m., Eastern Daylight Time, the day
before the adjourned meeting date, that is, July 22, 2020. Go to
www.proxyvote.com. You must have your proxy card or Notice in hand
when you access the web site and follow the instructions to obtain
your records and to create an electronic voting instruction
form.
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By telephone – 1-800-690-6903. You
may vote using any touch-tone telephone to transmit your voting
instructions up until 11:59 p.m., Eastern Daylight Time, the day
before the meeting date, that is, July 22, 2020. Call
1-800-690-6903 toll free. You must have your proxy card or Notice
in hand when you call this number and then follow the
instructions.
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By mail – Mark, sign and date your
proxy card and return it in the postage-paid envelope we have
provided. If you did not receive a proxy copy, you may request
proxy materials, including a proxy card, by following the
instructions in the Notice.
Votes
must be received by 11:59 P.M. Eastern Daylight Time on July 22,
2020 to be counted. After this time, the only way to cast a vote is
at the adjourned Annual Meeting on July 23, 2020, 9:00 a.m. Eastern
Daylight Time at
http://www.virtualshareholdermeeting.com/PTN2020.
About Palatin Technologies, Inc.
Palatin
Technologies, Inc. is a specialized biopharmaceutical company
developing first-in-class medicines based on molecules that
modulate the activity of the melanocortin and natriuretic peptide
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 with
industry leaders in order to maximize their commercial potential.
For additional information regarding Palatin, please visit
Palatin’s website at www.Palatin.com.
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 the need to for stockholders to approve Proposal
4, 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, sales of
Vyleesi in the United States and elsewhere in the world, 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 for events that occur after the date of this press
release.
Important Information
In
connection with the solicitation of proxies, on May 11, 2020,
Palatin filed a definitive proxy statement with the Securities and
Exchange Commission (“SEC”) in connection with
Palatin’s 2020 Annual Meeting. STOCKHOLDERS ARE STRONGLY
ADVISED TO READ THE DEFINITIVE PROXY MATERIALS AND ANY OTHER
RELEVANT SOLICITATION MATERIALS FILED BY PALATIN TECHNOLOGIES, INC.
WITH THE SEC BEFORE MAKING ANY VOTING OR INVESTMENT DECISION
BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION.
Palatin’s proxy statement and any other materials filed by
Palatin with the SEC can be obtained free of charge at the
SEC’s web site at www.sec.gov. Palatin’s proxy
statement, notice of annual meeting, and annual report to
shareholders are available free of charge on Palatin’s
website at www.palatin.com. The contents of the websites referenced
above are not deemed to be incorporated by reference into the proxy
statement.
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Investor Inquiries:
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Media Inquiries:
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Stephen T. Wills, CPA,
MST
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Paul Arndt, MBA,
LifeSci Advisors
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CFO/COO (609)
495-2200
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Managing
Director (646) 597-6992
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Info@Palatin.com
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Paul@LifeSciAdvisors.com
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