On July 26, 2022 Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems, reported preliminary fourth quarter 2022 Vyleesi product sales (Press release, Palatin Technologies, JUL 26, 2022, View Source [SID1234616946]). Vyleesi is the first and only as-needed treatment approved by the U.S. Food and Drug Administration (FDA) for premenopausal women with acquired, generalized hypoactive sexual desire disorder (HSDD).
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"We are pleased with Vyleesi’s momentum and our preliminary product sales results for the quarter ended June 30, 2022," stated Carl Spana, Ph.D., President and CEO of Palatin. "Our operating results, which includes significant increases across all sales and distribution value metrics, compared to both the prior quarter and the comparable quarter in 2021, continue to demonstrate Vyleesi’s potential within the female sexual healthcare market."
Preliminary fourth quarter ended June 30, 2022 Vyleesi results:
Net product revenue increased 225% over the prior quarter;
increased 600% over the comparable quarter in 2021.
Gross product sales increased 75% over the prior quarter;
increased 90% over the comparable quarter in 2021.
Total prescriptions dispensed increased 45% over the prior quarter;
increased 50% over the comparable quarter in 2021.
Preliminary Financial Information
The Vyleesi related financial and operating data for the fourth quarter of fiscal 2022 is preliminary and may change. This preliminary data has been prepared by, and is the responsibility of, Palatin’s management and no independent accounting firm has audited, reviewed, compiled, or performed any procedures with respect to this preliminary financial data. There can be no assurance that Palatin’s actual results for this quarterly period will not differ from the preliminary financial and operating data and such changes could be material. In addition, Palatin’s estimate of Vyleesi product sales for the fourth quarter of 2022 should not be viewed as a substitute for full financial statements for the fourth quarter and full year of fiscal 2022 prepared in accordance with U.S. generally accepted accounting standards. Additional information that will be material to investors will be provided in the financial statements for the three and twelve months ended June 30, 2022, and, accordingly, investors should not place undue reliance on the limited preliminary information being provided herein.
About Vyleesi (bremelanotide injection) for Hypoactive Sexual Desire Disorder (HSDD)
Vyleesi is the first and only as-needed treatment approved by the FDA for premenopausal women with acquired, generalized HSDD.
Palatin is actively seeking Vyleesi collaborations for North America and for territories outside the currently licensed territories of China and Korea. Vyleesi is licensed to Fosun Pharma in China and Kwangdong Pharmaceuticals in South Korea.
Patients and healthcare providers can learn more about HSDD and Vyleesi at www.vyleesi.com and www.vyleesipro.com.