Palatin Technologies Inc. Q1 Loss increases, but beats estimates

(RTTNews) - Palatin Technologies Inc. (PTN) reported Loss for its first quarter that increased from the same period last year but beat the Street estimates.

The company's bottom line totaled -$8.26 million, or -$0.86 per share. This compares with -$7.11 million, or -$0.75 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 443.8% to $0.87 million from $0.16 million last year.

Palatin Technologies Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$8.26 Mln. vs. -$7.11 Mln. last year. -EPS (Q1): -$0.86 vs. -$0.75 last year. -Analyst Estimate: -$1.19 -Revenue (Q1): $0.87 Mln vs. $0.16 Mln last year.