Palatin Technologies, Inc. Annual Meeting and Reverse Stock Split Proposal

On July 25, 2025, Palatin Technologies, Inc. held its annual meeting of stockholders. Key agenda items included the election of directors, a proposal for a reverse stock split of the company's common stock at a ratio of no less than 1-for-50 and not greater than 1-for-100, and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025. The stockholders approved all proposals, including the issuance of shares upon the exercise of certain Series B, D, and I Common Stock purchase warrants, and an amendment to the 2011 Stock Incentive Plan to increase the number of shares available for equity awards by 3,000,000 shares. The company also received a notice from NYSE American stating that it is no longer suitable for listing due to the low selling price of its common stock, leading to delisting proceedings and subsequent trading on the OTC Markets Group.