Palatin Technologies, Inc. Form 8-K dated August 18, 2004

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





FORM 8-K


CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act Of 1934


Date of Report (Date of earliest event reported):   August 18, 2004



Palatin Technologies, Inc.
(Exact name of registrant as specified in its charter)


Delaware 0-22686 95-4078884
(State or other jurisdiction (Commission (IRS employer
of incorporation) File Number) identification number)


4C Cedar Brook Drive, Cranbury, NJ 08512
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:  (609) 495-2200




Item 5. Other Events

           Pursuant to the collaborative agreement between Palatin Technologies, Inc. and King Pharmaceuticals, Inc., which we announced on August 13, 2004, we have today conducted the initial closing and we have received proceeds of $20 million from King.

           The information in this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.




Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


    PALATIN TECHNOLOGIES, INC.
     
     
     
Date: August 18, 2004   By:  /s/ Stephen T. Wills              
      Stephen T. Wills, CPA, MST
      Executive Vice President and
      Chief Financial Officer



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