Palatin Technologies (PTN) Stock Spikes Following FDA Approval of 'Female Viagra' Treatment

NEW YORK (TheStreet) -- Palatin Technologies (PTN) shares up 34.52% to $1.21 in trading on Friday after an Food and Drug Administration advisory panel voted 18-6 to approve a drug called flibanserin that treats low libido in women. 

While Palatin does not make flibanserin, which is being developed by private pharmaceutical company Sprout Pharmaceuticals, it does make a version of the drug called bremelanotide.

Though the treatment has been dubbed the 'female viagra', it does not work in the same way as the popular male erectile dysfunction treatment does. 

Viagra treats a physical ailment in men by redirecting blood flow allowing patients to maintain an erection while this treatment is a psychological treatment that needs to be taken daily to be effective.

Flibanserin had previously been rejected twice by the FDA.

PTN Chart PTN data by YCharts

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