Regarding cost and expenses, total operating cost for the quarter ended June 30, 2012 were $5.7 million compared to $4.7 million for the same period in 2011. Staying on cost and expenses, for the year ended June 30, 2012, total operating expenses were $18.9 million compared to $15.1 million for the year ended June 30, 2011. The increase in costs for the quarter and year ended June 30, 2012 compared to the quarter and year-end June 30, 2011, is a result of cost related to our FSD trial with bremelanotide which is currently in Phase 2B.Regarding our cash position, as of June 30, 2012, our cash and cash equivalents were $3.8 million and we have current liabilities of $3.5 million. This compared to cash and cash equivalents of $18.9 million and current liabilities of $2.8 million as of June 30, 2011. In July 2012, Palatin closed on a $35 million private placement with the net proceeds after deducting operating expenses, amounting to $34.5 million.
Palatin Technologies' CEO Discusses F4Q12 Results - Earnings Call Transcript
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