November 2, 2016 / 1:32 PM / a year ago

BUZZ-Palatin Technologies Inc: Set for best day in more than 1 year

** Specialty drug maker’s shares up 42.5 pct at 69 cents premarket; set for biggest pct gain in more than 1 year

** Says its experimental drug, bremelanotide, to treat women diagnosed with hypoactive sexual desire disorder (HSDD) met the main goals of late-stage clinical trials

** If approved, bremelanotide would compete with Valeant’s Addyi, which is the first approved treatment for low sexual desire in premenopausal women

** Roth Capital Partners raises PT on stock to $7 from $4 and sees major competition for Addyi because of its Black Box warning - the severest warning from the U.S. Food and Drug Administration

** Up to Tuesday’s close, Palatin had fallen about 27 pct this year

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