SPANA CARL

SPANA CARL, President and CEO, has demonstrated a clear pattern of insider activity focused exclusively on Palatin Technologies, Inc. (PTN), as evidenced by SEC Form 4 filings. Over 33 transactions, CARL has engaged solely in selling activity, with no recorded purchases. The total sell value amounts to $54,957.12, reflecting a consistent divestment strategy. Notably, the majority of these transactions occurred in 2024 and 2025, with significant sales on July 30, 2024, totaling $42,689.14 across multiple filings. These sales ranged from $3,099.60 to $11,182.24 per transaction, indicating a methodical approach to reducing holdings. CARL’s recent activity continues this trend, with additional sales on November 14, 2025, and December 30, 2025, totaling $6,806.98 and $6,862.98, respectively. These transactions, while smaller in scale, reinforce the ongoing sell bias. Notably, CARL’s activity includes several filings coded as “A” (grant, award, or other acquisition) and “P” (purchase), but these entries reflect zero-dollar values, suggesting they pertain to equity awards or derivative securities rather than direct purchases. The absence of any buy transactions, coupled with the consistent sell activity, underscores CARL’s focus on reducing exposure to PTN shares over time. This pattern provides a transparent view of CARL’s insider trading behavior, emphasizing a sustained divestment strategy within a single company.