Steve WillsThank you, Carl. Good morning everyone. Regarding the financial update Palatin’s net loss for the quarter ended June 30, 2011 was $3.3 million or $0.09 per basic and diluted share compared to a net loss of $4.2 million or $0.40 per basic and diluted share for the same period in 2010. The change in net loss for the quarter ended June 30, 2011 compared to the net loss for the quarter ended June 30, 2010 was primarily attributable to $1.3 million of non-cash non-operating income, which represents the decrease in estimated fair value of the warrant liability from March 31, 2011 through May 11, 2011, which is the date the warrant seized to be classified as a liability on stock holder approval of the increase in authorized common stock.
Palatin Technologies CEO Discusses F4Q2011 Results - Earnings Call Transcript
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