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10-K true 2026-06-30 --06-30 2026 false 001-15543 PALATIN TECHNOLOGIES, INC. DE 95-4078884 301 Carnegie Center Drive Suite 304 Princeton NJ 08540 (609) 495-2200 Common Stock, par value $.01 per share PTN NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 25695597 1780939 Risk Management and Strategy. We have established processes for identifying, assessing and managing material risks from cybersecurity threats as part of our overall risk management and technology management processes. These processes are <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_908_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250701__20260630_zelnsfZcpL8i">designed to help protect our information systems, technology infrastructure, confidential and proprietary information and other technology assets from cybersecurity threats and are periodically reviewed and updated to address changes in technology, cybersecurity threats, our business operations and applicable regulatory requirements. We engage <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250701__20260630_zu2MkUZUy7Jf">third-party service providers to assist us in assessing, monitoring and managing cybersecurity risks and the effectiveness of our cybersecurity processes and controls. We and our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20250701__20260630_zqJ24YAzNBEc">third-party service providers utilize managed detection and response services to monitor our technology infrastructure and information systems for potential cybersecurity threats. We also provide cybersecurity awareness training to employees regarding cybersecurity threats and their responsibilities in identifying, preventing and responding to potential cybersecurity incidents. Because we rely on third-party service providers, contractors, consultants, collaborators and other third parties in conducting our business, cybersecurity incidents affecting the information systems of such third parties could also adversely affect us. We seek to assess and manage cybersecurity risks associated with third-party service providers as appropriate based on the nature of the services provided and the information systems or data involved. However, our ability to monitor and control cybersecurity risks associated with third parties is limited, and there can be no assurance that cybersecurity measures implemented by us or our third parties will prevent or mitigate all cybersecurity threats or incidents. During the last two fiscal years, we have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250701__20260630_zNuoHTOuFnu3">not identified any cybersecurity threats or incidents that have materially affected, or are reasonably likely to materially affect, our business strategy, results of operations or financial condition. However, cybersecurity threats are evolving and becoming increasingly sophisticated, and we cannot eliminate all cybersecurity risk or provide assurance that we will not experience a material cybersecurity incident in the future or that we have not experienced an undetected cybersecurity incident. For additional information regarding cybersecurity risks, see Item 1A. “Risk Factors—Our internal computer systems, or those of our third-party contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.” true true true false Governance. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250701__20260630_zVoeeN2HQuN6">Our board of directors has overall responsibility for risk oversight, and the audit committee of our board of directors provides oversight of risks relating to cybersecurity and our technology management strategy. The audit committee receives periodic updates from management regarding cybersecurity matters, including the overall status of our cybersecurity risk management processes, significant cybersecurity threats and, as applicable, cybersecurity incidents. Management’s role. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleTextBlock_c20250701__20260630_zF0pMzZn9RP5">Our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250701__20260630_z0bULXOI8Mv2">Executive Vice President, Chief Financial Officer and Chief Operating Officer, Stephen T. Wills, is the member of management responsible for assessing and managing material risks from cybersecurity threats and for implementing and maintaining our cybersecurity risk management processes. Mr. Wills does not have formal training in information security. His relevant experience consists of nearly 30 years as our Chief Financial Officer, and 15 years as our Chief Operating Officer, with responsibility for our financial reporting systems, disclosure controls and procedures and internal control over financial reporting and for the selection and oversight of the third-party providers on which we rely for information technology and cybersecurity. Management, including Mr. Wills, works with our third-party information technology and cybersecurity service providers in monitoring our information systems, evaluating cybersecurity threats and responding to cybersecurity incidents. Material cybersecurity matters, if identified, are reported to the audit committee and, as appropriate, the board of directors. Our board of directors has overall responsibility for risk oversight, and the audit committee of our board of directors provides oversight of risks relating to cybersecurity and our technology management strategy. Our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250701__20260630_z0bULXOI8Mv2">Executive Vice President, Chief Financial Officer and Chief Operating Officer, Stephen T. Wills, is the member of management responsible for assessing and managing material risks from cybersecurity threats and for implementing and maintaining our cybersecurity risk management processes. true We have audited the accompanying consolidated balance sheets of Palatin Technologies, Inc. and subsidiary (the Company) as of June 30, 2026 and 2025, the related consolidated statements of operations, stockholders’ equity (deficiency), and cash flows for the fiscal years then ended, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2026 and 2025, and the results of its operations and its cash flows for the fiscal years then ended, in conformity with U.S. generally accepted accounting principles. KPMG LLP Philadelphia, Pennsylvania

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<p id="xdx_807_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zeu7C5uGkHfc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">(1) ORGANIZATION Nature of Business - Palatin Technologies, Inc. (“Palatin” or the “Company”) is a biopharmaceutical company developing first-in-class medicines based on peptide and small-molecule compounds that modulate the activity of the melanocortin receptor system. The Company’s product candidates are targeted, receptor-specific therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Melanocortin Receptor System. The melanocortin receptor system is involved in the regulation of food intake, metabolism, sexual function, inflammation and immune responses. There are five melanocortin receptors, MC1R through MC5R. Modulation of these receptors through receptor-specific agonists, which activate receptor function, or receptor-specific antagonists, which inhibit receptor function, can produce significant pharmacological effects. The Company’s principal strategic development focus is the advancement of MC4R agonists for the treatment of obesity, with an emphasis on rare neuroendocrine and other MC4R pathway diseases. The Company is developing selective MC4R long-acting peptide agonists and oral small-molecule agonists with potential utility in hypothalamic obesity, Prader-Willi syndrome, Bardet-Biedl syndrome and other rare obesity and orphan indications. The Company is also developing, subject to the availability of resources, melanocortin receptor agonists with potential utility in ocular diseases and inflammatory and autoimmune diseases, including uveitis and inflammatory bowel disease. A product candidate targeting MC1R for the treatment of dry eye disease, also known as keratoconjunctivitis sicca, has been licensed to a third party, and a family of melanocortin receptor compounds for the treatment of retinal diseases has been licensed to Boehringer Ingelheim. The Company believes that certain melanocortin receptor agonist peptides in development may have anti-inflammatory effects through mechanisms involved in the endogenous melanocortin system’s regulation of immune responses and resolution of inflammation. The Company’s prior commercial product, Vyleesi® (bremelanotide injection), was approved by the U.S. Food and Drug Administration (“FDA”) in June 2019 for the treatment of hypoactive sexual desire disorder (“HSDD”) in premenopausal women. Vyleesi was initially licensed to AMAG Pharmaceuticals, Inc. in January 2017. That license was terminated in July 2020, and the Vyleesi assets were subsequently sold to Cosette Pharmaceuticals, Inc. (“Cosette”) in December 2023. Reverse Stock Split - On August 8, 2025, a reverse stock split of 1-for-50 of issued and outstanding common stock was made effective by the Company. Retroactive effect for the reverse stock split was made to the Company’s outstanding common stock, stock options, common stock warrants, and preferred stock conversion features, including all share and per-share data, for all periods presented in the consolidated financial statements. Business Risks and Liquidity – The Company has incurred operating losses and negative cash flows from operations since inception and will need additional funding to complete its planned product development efforts. As shown in the accompanying consolidated financial statements, the Company had an accumulated deficit as of June 30, 2026, of $467,451,794 and a net loss for the year ended June 30, 2026, of $8,377,895. The Company anticipates incurring significant expenses in the future as a result of spending on its development programs and will require substantial additional financing or revenues to continue to fund its planned activities. To achieve sustained profitability, if ever, the Company, alone or with others, must successfully develop and commercialize its technologies and proposed products, conduct successful preclinical studies and clinical trials, obtain required regulatory approvals, and successfully manufacture and market such technologies and proposed products. The time required to reach sustained profitability is highly uncertain, and the Company may never be able to achieve profitability on a sustained basis, if at all. As of June 30, 2026, the Company’s cash and cash equivalents were $7,492,014 and current liabilities were $1,771,973. Management intends to utilize existing capital resources for general corporate purposes and working capital, primarily for the development of the Company’s MC4R agonists for the treatment of obesity, with an emphasis on rare neuroendocrine and other MC4R pathway diseases, and development of other MC1R portfolio products. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, Presentation of Financial Statements — Going Concern, which requires management to assess the Company’s ability to continue as a going concern for one year after the date the consolidated financial statements are issued. While the Company has raised funding in the past, the ability to raise funding in future periods is not considered probable, as defined under the accounting standards. As such, under the requirements of ASC 205-40, management may not consider the potential for future funding in their assessment of the Company’s ability to meet its obligations for the next year. Based on the Company’s available cash and cash equivalents as of June 30, 2026, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for one year from the date these consolidated financial statements are issued. The Company is evaluating strategies to obtain additional funding for future operations which include, but are not limited to, obtaining equity financing, issuing debt, or reducing planned expenses. A failure to raise additional funding or to effectively implement cost reductions could harm the Company’s business, results of operations, and future prospects. If the Company is not able to secure adequate additional funding in future periods, the Company would be forced to make additional reductions in certain expenditures. This may include liquidating assets and suspending or curtailing planned programs. The Company may also have to delay, reduce the scope of, suspend, or eliminate one or more research and development programs or its commercialization efforts or pursue a strategic transaction. If the Company is unable to raise capital when needed or enter into a strategic transaction, then the Company may be required to cease operations, which could cause its stockholders to lose all or part of their investment. The consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the continuity of operations, the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. Assuming no additional funding and based on its current operating and development plans, the Company expects that existing cash and cash equivalents as of the date of this filing will be sufficient to fund currently anticipated operating expenses through the second half of calendar year 2026. Concentrations – Concentrations in the Company’s assets and operations subject it to certain related risks. Financial instruments that subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents, and accounts receivable. The Company’s cash and cash equivalents are primarily invested in one investment account sponsored by a large financial institution.

a reverse stock split of 1-for-50 of issued and outstanding common stock

-467451794

-8377895

7492014

1771973

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation – The consolidated financial statements include the accounts of the Company and its wholly-owned inactive subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents – Cash and cash equivalents include cash on hand, cash in banks, and all highly liquid investments with a purchased maturity of less than three months. Cash equivalents consist of $5,531,773 and $2,286,603 in money market accounts at June 30, 2026 and 2025, respectively. Fair Value of Financial Instruments – The Company’s financial instruments consist primarily of cash equivalents, marketable securities, and accounts payable. Management believes that the carrying values of cash equivalents and accounts payable are representative of their respective fair values based on the short-term nature of these instruments. Credit Risk – Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. Total cash and cash equivalent balances have exceeded balances insured by the Federal Depository Insurance Corporation. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Property and Equipment – Property and equipment consists of office and laboratory equipment, office furniture, and leasehold improvements and includes assets acquired under finance leases. Property and equipment are recorded at cost. Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets, generally five years for laboratory and computer equipment, seven years for office furniture and equipment, and the lesser of the term of the lease or the useful life for leasehold improvements. Amortization of assets acquired under finance leases is included in depreciation expense. Maintenance and repairs are expensed as incurred while expenditures that extend the useful life of an asset are capitalized. Impairment of Long-Lived Assets – The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than its carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present value of the estimated future cash flows based on reasonable and supportable assumptions. Leases - At lease inception, the Company determines whether an arrangement is or contains a lease. Operating leases are included in operating lease right-of-use (“ROU”) assets, short-term operating lease liabilities, and long-term operating lease liabilities in the consolidated financial statements. Finance leases are included in property and equipment for ROU assets, short-term finance lease liabilities, and long-term finance lease liabilities in the consolidated financial statements. ROU assets represent the Company’s right to use leased assets over the term of the lease. Lease liabilities represent the Company’s contractual obligation to make lease payments over the lease term. ROU assets and lease liabilities are recognized at the commencement date. The lease liability is measured as the present value of the lease payments over the lease term. The Company uses the rate implicit in the lease if it is determinable. When the rate implicit in the lease is not determinable, the Company uses an estimate based on a hypothetical rate provided by a third party as the Company currently does not have issued debt. Lease terms may include renewal or extension options to the extent they are reasonably certain to be exercised. The assessment of whether renewal or extension options are reasonably certain to be exercised is made at lease commencement. Factors considered in determining whether an option is reasonably certain of exercise include, but are not limited to, the value of any leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors that would cause incremental costs to the Company if the option were not exercised. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For finance leases, the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to the Company or the Company is reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. Amortization of the ROU asset is recognized and presented as an operating expense separately from interest expense on the lease liability. The Company has elected not to recognize an ROU asset and obligation for leases with an initial term of twelve months or less. The expense associated with short-term leases is included in selling, general and administrative expense in the statements of operations. To the extent a lease arrangement includes both lease and non-lease components, the Company has elected to account for the components as a single lease component. On December 11, 2025, the Company entered into an office lease agreement at 301 Carnegie Center Drive in Princeton, New Jersey. In connection with the execution of the lease, the Company recorded a right-of-use asset and corresponding lease liability of $248,718 in accordance with ASC 842. Revenue Recognition – For licenses of intellectual property, the Company assesses at contract inception whether the intellectual property is distinct from other performance obligations identified in the arrangement. If the licensing of intellectual property is determined to be distinct, revenue is recognized for non-refundable, upfront license fees when the license is transferred to the customer, and the customer can use and benefit from the license. If the licensing of intellectual property is determined not to be distinct, then the license is bundled with other promises in the arrangement into one performance obligation. The Company determines if the bundled performance obligation is satisfied over time or at a point in time. If the Company concludes that the non-refundable, upfront license fees will be recognized over time, the Company assesses the appropriate method of measuring proportional performance. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Research, development and regulatory milestone payments are considered variable consideration subject to constraint and excluded from the transaction price until it is probable that a significant reversal would not occur. At each reporting period, the Company will assess whether there still is significant uncertainty associated with the variable consideration and revenue relating to the milestones recorded in the period where the significant uncertainty is resolved. Sales-based royalty and milestone payments resulting from customer contracts solely or predominately for the license of intellectual property will only be recognized upon occurrence of the underlying sale or achievement of the sales milestone in the future and such sales-based royalties and milestone payments will be recognized in the same period earned. The Company recognizes revenue for research and development services under customer agreements as the services are performed. The Company records these services as revenue and not as a reduction of research and development expenses as the Company is the principal in the research and development activities based upon its control of such activities, which are part of its ordinary activities. Research and Development Costs – The costs of research and development activities are charged to expense as incurred, including the cost of equipment for which there is no alternative future use. Accrued Expenses – Third parties perform a significant portion of the Company’s development activities. The Company reviews the activities performed under all contracts each quarter and accrues expenses and the amount of any reimbursement to be received from its collaborators based upon the estimated amount of work completed considering milestones achieved. Estimating the value or stage of completion of certain services requires judgment based on available information. If the Company does not identify services performed for it but not billed by the service provider, or if it underestimates or overestimates the value of services performed as of a given date, reported expenses will be understated or overstated. Stock-Based Compensation – The Company charges to expense the fair value of stock options and other equity awards granted to employees and nonemployees for services. Compensation costs for stock-based awards with time-based vesting are determined using the quoted market price of the Company’s common stock on the grant date or for stock options, the value determined utilizing the Black-Scholes option pricing model, and are recognized on a straight-line basis, while awards containing a market condition are valued using multifactor Monte Carlo simulations and are recognized over the derived service period. Compensation costs for awards containing a performance condition are determined using the quoted price of the Company’s common stock on the grant date or for stock options, the value determined utilizing the Black-Scholes option pricing model and are recognized based on the probability of achievement of the performance condition over the service period. Forfeitures are recognized as they occur. Income Taxes – The Company and its subsidiary file consolidated federal and separate-company state income tax returns. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences or operating loss and tax credit carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. The Company has recorded and continues to maintain a full valuation allowance against its deferred tax assets based on the history of losses incurred and lack of experience projecting future product revenue and sales-based royalty and milestone payments. Net Loss per Common Share – Basic and diluted loss per common share (“EPS”) are calculated in accordance with the provisions of FASB ASC Topic 260, Earnings per Share. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements For the years ended June 30, 2026, and 2025, no additional common shares were added to the computation of diluted EPS because doing so would have been anti-dilutive. The potential number of common shares excluded from diluted EPS during the years ended June 30, 2026, and 2025 was 8,574,577 and 828,978, respectively. Included in the weighted average common shares used in computing basic and diluted net loss per common share are <span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zCLAHQANM5ca" title="Weighted average vested restricted stock basic"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zTbQ43GOFc4j" title="Weighted average vested restricted stock diluted">7,844 and <span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVkHKjXrjm79" title="Weighted average vested restricted stock units"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhanItDhNxc" title="Weighted average vested restricted stock units">9,980 vested restricted stock units that had not been issued as of June 30, 2026, and 2025, respectively, due to a provision in the restricted stock unit agreements to delay delivery. Translation of foreign currencies – Transactions denominated in currencies other than the Company’s functional currency (US Dollar) are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses, which are reflected in the consolidated statements of operations as unrealized (based on the applicable period-end exchange rate) or realized upon settlement of the transactions.

Principles of Consolidation – The consolidated financial statements include the accounts of the Company and its wholly-owned inactive subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents – Cash and cash equivalents include cash on hand, cash in banks, and all highly liquid investments with a purchased maturity of less than three months. Cash equivalents consist of $5,531,773 and $2,286,603 in money market accounts at June 30, 2026 and 2025, respectively.

5531773

2286603

Fair Value of Financial Instruments – The Company’s financial instruments consist primarily of cash equivalents, marketable securities, and accounts payable. Management believes that the carrying values of cash equivalents and accounts payable are representative of their respective fair values based on the short-term nature of these instruments.

Credit Risk – Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. Total cash and cash equivalent balances have exceeded balances insured by the Federal Depository Insurance Corporation. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements

Property and Equipment – Property and equipment consists of office and laboratory equipment, office furniture, and leasehold improvements and includes assets acquired under finance leases. Property and equipment are recorded at cost. Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets, generally five years for laboratory and computer equipment, seven years for office furniture and equipment, and the lesser of the term of the lease or the useful life for leasehold improvements. Amortization of assets acquired under finance leases is included in depreciation expense. Maintenance and repairs are expensed as incurred while expenditures that extend the useful life of an asset are capitalized.

Impairment of Long-Lived Assets – The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than its carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present value of the estimated future cash flows based on reasonable and supportable assumptions.

Leases - At lease inception, the Company determines whether an arrangement is or contains a lease. Operating leases are included in operating lease right-of-use (“ROU”) assets, short-term operating lease liabilities, and long-term operating lease liabilities in the consolidated financial statements. Finance leases are included in property and equipment for ROU assets, short-term finance lease liabilities, and long-term finance lease liabilities in the consolidated financial statements. ROU assets represent the Company’s right to use leased assets over the term of the lease. Lease liabilities represent the Company’s contractual obligation to make lease payments over the lease term. ROU assets and lease liabilities are recognized at the commencement date. The lease liability is measured as the present value of the lease payments over the lease term. The Company uses the rate implicit in the lease if it is determinable. When the rate implicit in the lease is not determinable, the Company uses an estimate based on a hypothetical rate provided by a third party as the Company currently does not have issued debt. Lease terms may include renewal or extension options to the extent they are reasonably certain to be exercised. The assessment of whether renewal or extension options are reasonably certain to be exercised is made at lease commencement. Factors considered in determining whether an option is reasonably certain of exercise include, but are not limited to, the value of any leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors that would cause incremental costs to the Company if the option were not exercised. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For finance leases, the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to the Company or the Company is reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. Amortization of the ROU asset is recognized and presented as an operating expense separately from interest expense on the lease liability. The Company has elected not to recognize an ROU asset and obligation for leases with an initial term of twelve months or less. The expense associated with short-term leases is included in selling, general and administrative expense in the statements of operations. To the extent a lease arrangement includes both lease and non-lease components, the Company has elected to account for the components as a single lease component. On December 11, 2025, the Company entered into an office lease agreement at 301 Carnegie Center Drive in Princeton, New Jersey. In connection with the execution of the lease, the Company recorded a right-of-use asset and corresponding lease liability of $248,718 in accordance with ASC 842.

248718

Revenue Recognition – For licenses of intellectual property, the Company assesses at contract inception whether the intellectual property is distinct from other performance obligations identified in the arrangement. If the licensing of intellectual property is determined to be distinct, revenue is recognized for non-refundable, upfront license fees when the license is transferred to the customer, and the customer can use and benefit from the license. If the licensing of intellectual property is determined not to be distinct, then the license is bundled with other promises in the arrangement into one performance obligation. The Company determines if the bundled performance obligation is satisfied over time or at a point in time. If the Company concludes that the non-refundable, upfront license fees will be recognized over time, the Company assesses the appropriate method of measuring proportional performance. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Research, development and regulatory milestone payments are considered variable consideration subject to constraint and excluded from the transaction price until it is probable that a significant reversal would not occur. At each reporting period, the Company will assess whether there still is significant uncertainty associated with the variable consideration and revenue relating to the milestones recorded in the period where the significant uncertainty is resolved. Sales-based royalty and milestone payments resulting from customer contracts solely or predominately for the license of intellectual property will only be recognized upon occurrence of the underlying sale or achievement of the sales milestone in the future and such sales-based royalties and milestone payments will be recognized in the same period earned. The Company recognizes revenue for research and development services under customer agreements as the services are performed. The Company records these services as revenue and not as a reduction of research and development expenses as the Company is the principal in the research and development activities based upon its control of such activities, which are part of its ordinary activities.

Research and Development Costs – The costs of research and development activities are charged to expense as incurred, including the cost of equipment for which there is no alternative future use.

Accrued Expenses – Third parties perform a significant portion of the Company’s development activities. The Company reviews the activities performed under all contracts each quarter and accrues expenses and the amount of any reimbursement to be received from its collaborators based upon the estimated amount of work completed considering milestones achieved. Estimating the value or stage of completion of certain services requires judgment based on available information. If the Company does not identify services performed for it but not billed by the service provider, or if it underestimates or overestimates the value of services performed as of a given date, reported expenses will be understated or overstated.

Stock-Based Compensation – The Company charges to expense the fair value of stock options and other equity awards granted to employees and nonemployees for services. Compensation costs for stock-based awards with time-based vesting are determined using the quoted market price of the Company’s common stock on the grant date or for stock options, the value determined utilizing the Black-Scholes option pricing model, and are recognized on a straight-line basis, while awards containing a market condition are valued using multifactor Monte Carlo simulations and are recognized over the derived service period. Compensation costs for awards containing a performance condition are determined using the quoted price of the Company’s common stock on the grant date or for stock options, the value determined utilizing the Black-Scholes option pricing model and are recognized based on the probability of achievement of the performance condition over the service period. Forfeitures are recognized as they occur.

Income Taxes – The Company and its subsidiary file consolidated federal and separate-company state income tax returns. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences or operating loss and tax credit carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. The Company has recorded and continues to maintain a full valuation allowance against its deferred tax assets based on the history of losses incurred and lack of experience projecting future product revenue and sales-based royalty and milestone payments.

Net Loss per Common Share – Basic and diluted loss per common share (“EPS”) are calculated in accordance with the provisions of FASB ASC Topic 260, Earnings per Share. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements For the years ended June 30, 2026, and 2025, no additional common shares were added to the computation of diluted EPS because doing so would have been anti-dilutive. The potential number of common shares excluded from diluted EPS during the years ended June 30, 2026, and 2025 was 8,574,577 and 828,978, respectively. Included in the weighted average common shares used in computing basic and diluted net loss per common share are <span id="xdx_901_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zCLAHQANM5ca" title="Weighted average vested restricted stock basic"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zTbQ43GOFc4j" title="Weighted average vested restricted stock diluted">7,844 and <span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVkHKjXrjm79" title="Weighted average vested restricted stock units"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhanItDhNxc" title="Weighted average vested restricted stock units">9,980 vested restricted stock units that had not been issued as of June 30, 2026, and 2025, respectively, due to a provision in the restricted stock unit agreements to delay delivery.

8574577

828978

7844

9980

Translation of foreign currencies – Transactions denominated in currencies other than the Company’s functional currency (US Dollar) are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses, which are reflected in the consolidated statements of operations as unrealized (based on the applicable period-end exchange rate) or realized upon settlement of the transactions.

(3) NEW AND RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income- Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 enhances financial reporting by requiring additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The guidance is effective for public business entities for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently planning to adopt this guidance when effective. The Company is assessing the impact of the adoption on the Company’s consolidated financial statements and accompanying footnotes but expects the impact will be enhanced disclosures related to income statement expenses. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. ASU 2023-09 enhances the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The guidance is effective for public business entities for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted. The Company adopted this guidance prospectively for the year ended June 30, 2026, and has updated its disclosures within its footnotes herein to include the required additional tax disclosures.

(4) AGREEMENT WITH BOEHRINGER INGELHEIM On August 14, 2025, the Company entered into a Research Collaboration, License and Patent Assignment Agreement (the “Agreement”) with Boehringer Ingelheim International GmbH (“Boehringer Ingelheim” or “BI”) to research, develop, and commercialize proprietary melanocortin receptor-targeted compounds for the treatment of retinal diseases. Under the terms of the Agreement, BI agreed to pay the Company a non-refundable upfront payment, success-based development, regulatory, and commercial milestone payments of up to €<span id="xdx_905_eus-gaap--PaymentsForFees_uEUR_c20250814__20250814__us-gaap--TypeOfArrangementAxis__custom--ResearchCollaborationLicenseAndPatentAssignmentAgreementMember_zqiIpdCoKexd" title="Non-refundable upfront payment, success-based development, regulatory, and commercial milestone payments">280,000,000 (approximately $<span id="xdx_900_eus-gaap--PaymentsForFees_c20250814__20250814__us-gaap--TypeOfArrangementAxis__custom--ResearchCollaborationLicenseAndPatentAssignmentAgreementMember_znHzClmpDqge" title="Non-refundable upfront payment, success-based development, regulatory, and commercial milestone payments">328,000,000), and tiered royalties on net sales of licensed products, if commercialized. The Company assigned certain patent rights and granted BI a license to related intellectual property (the “Assigned Patents”). The Company will also perform research and development services in collaboration with BI for a period of up to <span id="xdx_904_eus-gaap--LongtermPurchaseCommitmentPeriod_dtY_c20250814__20250814__us-gaap--TypeOfArrangementAxis__custom--ResearchCollaborationLicenseAndPatentAssignmentAgreementMember_zQJNS2YghI6a" title="Collaboration period">2.5 years, with all approved costs reimbursed by BI. The Company retains an exclusive, fully paid-up license to PL9643 for the treatment of dry eye disease. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements The Company evaluated the Agreement under ASC 606 and concluded that it contains two distinct performance obligations: (i) the assignment of patents and license rights; and (ii) the provision of research and development services. The license and patent assignment represent functional intellectual property that is distinct from the research and development services, as BI can benefit from the license independently of the services. The transaction price consists of fixed consideration and variable consideration. Variable consideration associated with future milestone payments is fully constrained, as the Company cannot conclude that it is probable that a significant reversal of cumulative revenue recognized will not occur due to the inherent uncertainty of milestone achievement. The Company allocated the transaction price to the performance obligations based on their relative standalone selling prices. The amount allocated to the license and patent assignment was recognized at a point in time upon transfer of control to BI. During the year ended June 30, 2026, the Company recognized revenue of €7,500,000 (approximately $8,830,000), consisting of (i) the non-refundable upfront payment, which was recognized upon transfer of control of the license and patent assignment performance obligation, and (ii) the first research milestone payment, which was recognized in the period the milestone was achieved, as the associated uncertainty was resolved. Foreign withholding taxes of $1,324,500 related to the upfront and milestone payments were initially recorded as other receivables pending recovery and were refunded in June 2026. Reimbursements for research and development services are recognized as the services are performed.

280000000

328000000

P2Y6M

7500000

8830000

1324500

(5) AGREEMENT WITH ALTANISPAC On January 8, 2026, the Company entered into a sublicense agreement (the “Altanispac Agreement”) with Altanispac Labs, LLC (“Altanispac”), granting an exclusive license to PL9643, an MC1R agonist for the treatment of dry eye disease. Under the terms of the Altanispac Agreement, Altanispac agreed to pay the Company a non-refundable upfront payment in the form of non-cash debt cancellation, plus future payments based on the sublicensing or the sale of PL9643, and tiered royalties on net sales of licensed products, if commercialized. The Company assigned certain patent rights and granted Altanispac a license to related intellectual property. The Company evaluated the Altanispac Agreement under ASC 606 and concluded that it contains one distinct performance obligation, the license of functional intellectual property. The transaction price consists of fixed consideration and variable consideration. Variable consideration associated with future payments is fully constrained, as the Company cannot conclude that it is probable that a significant reversal of cumulative revenue recognized will not occur due to the inherent uncertainty of achievement. Control of the intellectual property was transferred to Altanispac at contract inception, and accordingly, the Company recognized $3,751,122 as license revenue in the Consolidated Statements of Operations for the year ended June 30, 2026. The $3,751,122 of license revenue was received in the form of non-cash debt cancellation. The canceled debt was previously recorded in current liabilities.

3751122

(6) RELEASE AND SETTLEMENT AGREEMENT On June 5, 2025, the Company entered into a Release and Settlement Agreement (the “Settlement Agreement”) with Cosette pursuant to which the Cosette resolved all outstanding obligations and commercialization covenants related to certain sales-based milestone payments and inventory purchase commitments by remitting a single lump sum payment of $630,000 and the assumption of outstanding manufacturing and supply purchase commitments, with the Company retaining the right to receive 20% of a $3,000,000 milestone payment based on the first commercial sale in Korea, in full satisfaction and release of all such future obligations. As a result, the Company recorded a gain on the sale of Vyleesi of $3,130,000 and a gain on inventory purchase commitments of $2,117,900, for the fiscal year ended June 30, 2025. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements

630000

3000000

3130000

2117900 (7) PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_z43QEAdxBdi" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250630_zMD5pguUCBO5" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--PrepaidClinicalRegulatoryCosts_iI_maPEAOAzxff_znUmFzH4WvYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Clinical / regulatory costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">130,793</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">24,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidInsurancePremiums_iI_maPEAOAzxff_zy9dnj41AVU8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Insurance premiums</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,043</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAzxff_zcheC5v7gRsl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">160,205</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">215,572</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_mtPEAOAzxff_ziUSeJBlAJr" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">371,703</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">325,695</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepaid expenses and other current assets consist of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_z43QEAdxBdi" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250630_zMD5pguUCBO5" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--PrepaidClinicalRegulatoryCosts_iI_maPEAOAzxff_znUmFzH4WvYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Clinical / regulatory costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">130,793</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">24,080</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidInsurancePremiums_iI_maPEAOAzxff_zy9dnj41AVU8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Insurance premiums</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,043</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAzxff_zcheC5v7gRsl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">160,205</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">215,572</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_mtPEAOAzxff_ziUSeJBlAJr" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">371,703</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">325,695</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

130793 24080 80705 86043

160205

215572

371703

325695

(8) FAIR VALUE MEASUREMENTS The fair value of cash equivalents is classified using a hierarchy prioritized based on inputs. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on management’s own assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. <p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z66g4jrSvEHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides the assets carried at fair value: SCHEDULE OF FAIR VALUE ASSET MEASUREMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Carrying Value</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted prices in active markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Other quoted/ observable inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant unobservable inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 30, 2026:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left; padding-bottom: 2.5pt">Cash equivalents - Money market funds</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zUAZTVWd37ee" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds">5,531,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zxXh4l9oiDm4" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds">5,531,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zTgQubacasl2" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds"> -</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zpytl2fzXlxk" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds"> -</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 30, 2025:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Cash equivalents - Money market funds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zwIyeCJLu7vf" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">2,286,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zV0rPFuBHpfb" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">2,286,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zu9amy08mK5h" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zpXDb9Jmrjcl" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z66g4jrSvEHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides the assets carried at fair value: SCHEDULE OF FAIR VALUE ASSET MEASUREMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Carrying Value</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted prices in active markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Other quoted/ observable inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant unobservable inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 30, 2026:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left; padding-bottom: 2.5pt">Cash equivalents - Money market funds</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zUAZTVWd37ee" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds">5,531,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zxXh4l9oiDm4" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds">5,531,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zTgQubacasl2" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds"> -</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zpytl2fzXlxk" style="border-bottom: Black 2.5pt double; width: 12%; text-align: right" title="Cash Equivalents - Money market funds"> -</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 30, 2025:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Cash equivalents - Money market funds</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zwIyeCJLu7vf" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">2,286,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zV0rPFuBHpfb" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">2,286,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zu9amy08mK5h" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zpXDb9Jmrjcl" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash Equivalents - Money market funds">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5531773

2286603

(9) LEASES The Company has operating leases for office and laboratory space, which expire on December 31, 2027, and October 31, 2026, respectively. The components of operating lease cost are as follows: SCHEDULE OF COMPONENTS OF OPERATING LEASE COST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Operating lease cost</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zq20YMhVdL8i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zEo8S1YpHrXe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseCost_maTOLCzQAO_zBlDdCCuX8gi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">145,998</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">264,426</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--VariableLeaseCost_maTOLCzQAO_zkSvWWjbfNFb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52,872</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">114,403</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--TotalOperatingLeaseCost_iT_mtTOLCzQAO_zYmslFbf2C2b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">198,870</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">378,829</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The components of finance lease cost are as follows: SCHEDULE OF COMPONENTS OF FINANCING LEASE COST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Finance lease cost</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zDxKZoyn8Ra6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zNJ1psz5Slz4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCzsEX_zac7KVY685cg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Right-of-use asset amortization</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">45,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseInterestExpense_maLCzsEX_zlWVn7t9Feid" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">610</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LeaseCost_iT_mtLCzsEX_z5Q6uLh3IGb9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total finance lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,583</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Supplemental lease term and discount rate information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL LEASE TERM AND DISCOUNT RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted-average remaining lease term (years) operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.50</td><td style="text-align: left">%</td></tr> </table> Supplemental cash flow information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zUleOSqWvcWb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_z1QjJXW9zDG9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for the amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_zrB0xIox0353" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">199,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">397,616</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseExpense_zhIqgvEoJm2k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating cash flows for finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">610</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseImpairmentLoss_zt9btDjWG1al" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Financing cash flows for finance leases</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">46,014</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--TotalMeasurementOfLeaseLiabilities_zGWll3FmrPn5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total measurement of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">199,650</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">444,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RightofuseAssetsObtainedInExchangeForNewOperatingLeaseObligation_zl7qJ5i3PPI9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets obtained in exchange for new operating lease obligation</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">248,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> The following table summarizes the maturity of the Company’s lease liabilities as of June 30, 2026: SCHEDULE OF MATURITY OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating leases:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260630_zROSY0n5NB0f" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Year Ending June 30</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zsPvc7dNlxMc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">164,938</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zrxDbTfduhXb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zDvpfbFW5tz4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,425</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_zpZoOCxPP7Ci" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">223,679</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The components of operating lease cost are as follows: SCHEDULE OF COMPONENTS OF OPERATING LEASE COST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Operating lease cost</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zq20YMhVdL8i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zEo8S1YpHrXe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseCost_maTOLCzQAO_zBlDdCCuX8gi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">145,998</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">264,426</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--VariableLeaseCost_maTOLCzQAO_zkSvWWjbfNFb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52,872</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">114,403</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--TotalOperatingLeaseCost_iT_mtTOLCzQAO_zYmslFbf2C2b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">198,870</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">378,829</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

145998

264426

52872

114403

198870 378829

The components of finance lease cost are as follows: SCHEDULE OF COMPONENTS OF FINANCING LEASE COST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Finance lease cost</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zDxKZoyn8Ra6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zNJ1psz5Slz4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCzsEX_zac7KVY685cg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Right-of-use asset amortization</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">45,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseInterestExpense_maLCzsEX_zlWVn7t9Feid" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">610</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LeaseCost_iT_mtLCzsEX_z5Q6uLh3IGb9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total finance lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,583</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

45973

610

46583

Supplemental lease term and discount rate information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL LEASE TERM AND DISCOUNT RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted-average remaining lease term (years) operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.50</td><td style="text-align: left">%</td></tr> </table>

P1Y3M18D

P1Y2M12D

0.0550

Supplemental cash flow information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zUleOSqWvcWb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_z1QjJXW9zDG9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for the amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_zrB0xIox0353" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">199,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">397,616</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseExpense_zhIqgvEoJm2k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating cash flows for finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">610</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseImpairmentLoss_zt9btDjWG1al" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Financing cash flows for finance leases</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">46,014</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--TotalMeasurementOfLeaseLiabilities_zGWll3FmrPn5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total measurement of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">199,650</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">444,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RightofuseAssetsObtainedInExchangeForNewOperatingLeaseObligation_zl7qJ5i3PPI9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets obtained in exchange for new operating lease obligation</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">248,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

199650

397616

610

46014

199650 444240 248718

The following table summarizes the maturity of the Company’s lease liabilities as of June 30, 2026: SCHEDULE OF MATURITY OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating leases:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20260630_zROSY0n5NB0f" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Year Ending June 30</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zsPvc7dNlxMc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">164,938</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zrxDbTfduhXb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zDvpfbFW5tz4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,425</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_zpZoOCxPP7Ci" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">223,679</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

164938

66166

7425

223679

(10) PROPERTY AND EQUIPMENT, NET Property and equipment, net, consists of the following: SCHEDULE OF PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_zsBBml4n8aXc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250630_zhtYqBhwtSoh" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zTIcIrY8l40f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,229,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,229,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZJ9qvSLk90d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Laboratory equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,271,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,220,395</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zgM59aJIGa0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,196,706</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,196,706</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_z5JJsY3bnvMe" style="vertical-align: bottom; background-color: White"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,697,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,646,401</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_zKvONhx1Dpwe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,579,635</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,516,957</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iI_z9ZJHnMg7jmh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">118,064</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">129,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements

Property and equipment, net, consists of the following: SCHEDULE OF PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_zsBBml4n8aXc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250630_zhtYqBhwtSoh" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zTIcIrY8l40f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,229,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,229,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZJ9qvSLk90d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Laboratory equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,271,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,220,395</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zgM59aJIGa0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,196,706</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,196,706</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_z5JJsY3bnvMe" style="vertical-align: bottom; background-color: White"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,697,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,646,401</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_zKvONhx1Dpwe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,579,635</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,516,957</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iI_z9ZJHnMg7jmh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">118,064</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">129,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1229300

1271693

1220395

1196706

3697699

3646401

3579635

3516957

118064

129444

<p id="xdx_80C_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zhUu6swx2Nci" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">(11) ACCRUED EXPENSES Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_z20m1tKwNQWe" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250630_z5pAFghNRcVc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--AccruedClinicalRegulatoryCosts_iI_maALCzV6p_zupJjBqtX6ba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Clinical / regulatory costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">198,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">282,761</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--OtherAccruedResearchRelatedExpenses_iI_maALCzV6p_zTzJtvCol986" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other research related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,372</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzV6p_zDap1QKTqkPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzV6p_z715kHveYmN5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">178,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">188,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzV6p_z8zds75XGwDi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">504,158</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">881,412</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_z20m1tKwNQWe" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250630_z5pAFghNRcVc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--AccruedClinicalRegulatoryCosts_iI_maALCzV6p_zupJjBqtX6ba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Clinical / regulatory costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">198,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">282,761</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--OtherAccruedResearchRelatedExpenses_iI_maALCzV6p_zTzJtvCol986" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other research related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,372</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzV6p_zDap1QKTqkPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzV6p_z715kHveYmN5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">178,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">188,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzV6p_z8zds75XGwDi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">504,158</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">881,412</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

198373 282761 32442 86372

95279

323510

178064

188769

504158

881412

(12) COMMITMENTS AND CONTINGENCIES Inventory Purchases – The Company had certain supply agreements relating to the Vyleesi product with certain manufacturers and suppliers, including Catalent Belgium S.A. (“Catalent”), Ypsomed AG (“Ypsomed”), and Lonza Ltd (“Lonza”), all of which were transferred to Cosette on June 5, 2025, pursuant to the Settlement Agreement with Cosette (see Note 6). Employment Agreements – The Company has employment agreements with two executive officers which provides a stated annual compensation amount, subject to annual increases, and annual bonus compensation in an amount to be approved by the Company’s board of directors. Each agreement allows the Company or the employee to terminate the agreement in certain circumstances. In some circumstances, early termination by the Company may result in severance pay to the employee for a period of 24 months at the salary then in effect, continuation of health insurance premiums over the severance period and immediate vesting of all stock options and restricted stock units. Termination following a change in control will result in a lump sum payment of two times the salary then in effect and immediate vesting of all stock options and restricted stock units. Employee Retirement Savings Plan – The Company maintains a defined contribution 401(k) plan for the benefit of its employees. The Company currently matches a portion of employee contributions to the plan. For the years ended June 30, 2026, and 2025, Company contributions were $272,790 and $265,806, respectively. Contingencies – The Company accounts for litigation losses in accordance with ASC 450-20, Loss Contingencies. In addition, the Company is subject to other contingencies, such as product liability, arising in the ordinary course of business. Loss contingency provisions are recorded for probable losses when management is able to reasonably estimate the loss. Any outcome upon settlement that deviates from the Company’s best estimate may result in additional expense or in a reduction in expense in a future accounting period. The Company records legal expenses associated with such contingencies as incurred. The Company is involved, from time to time, in various claims and legal proceedings arising in the ordinary course of its business. On February 13, 2025, a complaint was filed in the Supreme Court of the State of New York, County of New York, captioned H.C. Wainwright & Co., LLC (“Wainwright”) v. Palatin Technologies, Inc., Case No: 650878/2025. The complaint named the Company as defendant, asserting three causes of action for breach of contract and seeking monetary damages of approximately $1,000,000 and the award of warrants allegedly due. The breach of contract claims relates to engagement agreements entered into by the Company and Wainwright in 2023 and 2024. On November 17, 2025, the Company entered into a settlement and release agreement with Wainwright to resolve all outstanding disputes between the parties. Pursuant to the settlement, the Company paid Wainwright $500,000 in cash which was recorded in G&A and issued warrants to purchase 10,000 shares of the Company’s common stock at an exercise price of $10.00 per share, exercisable beginning January 12, 2026, with a two-year term. In addition, the Company repriced 6,007 outstanding Wainwright warrants to an exercise price of $10.00 per share. The parties mutually released all claims, and the Company extinguished all remaining obligations under the prior engagement arrangements. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements

272790

265806

1000000

500000

10000

10.00

6007

10.00

(13) SEGMENT INFORMATION The Company views its operations and manages its business in one operating segment: life science. The table below summarizes the significant expense categories for the life science segment regularly provided to the Company’s Chief Financial Officer / Chief Operating Officer (the “CFO / COO”), its Chief Operating Decision Maker (the “CODM”). The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for its segment based on net loss, which is reported on the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total assets. The CODM uses cash forecast models in deciding how to invest in the segment. The CODM analyzes the Company’s net loss and monitors budget versus actual results to assess the performance of the Company. <p id="xdx_898_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_hus-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_zU3ina5D1iMd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"> SCHEDULE OF SEGMENT BASED ON NET LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20260630_zAwS0nPHwky6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_z47zMv1OoALg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z8DlHpazAF5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Total Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">13,185,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ProgramSpend_zNRTseayhtM7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Program spend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,066,487</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,548,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PersonnelCosts_zPBOrLmia3P4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Personnel costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,313,404</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,496,251</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AdministrativeFeesExpense_zSTwj56mXcA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Administrative costs (a)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,473,428</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,662,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--GainOnSaleOfVyleesi_iN_di_zlC3d6dj22H9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain on Sale of Vyleesi</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,130,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--GainLossOnPurchaseCommitment_iN_di_zdO86hdHkXIa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain on Purchase Commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,117,900</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--SegmentReportingOtherItemAmount_zwJD3kbcQUF2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other segment items (b)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(290,393</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(152,591</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--SegmentNetLoss_zFvhVuLycAF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Segment net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,377,895</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,307,349</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(a)</td><td style="width: 5pt"></td><td style="text-align: justify">Contains depreciation and amortization. Depreciation was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNFR01FTlQgQkFTRUQgT04gTkVUIExPU1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--Depreciation_c20250701__20260630_z14sygvCorAk" title="Depreciation">62,679 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNFR01FTlQgQkFTRUQgT04gTkVUIExPU1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--Depreciation_c20240701__20250630_zhYemwnVQQCc" title="Depreciation">258,917 for the years ended June 30 2026 and 2025, respectively</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(b)</td><td style="width: 5pt"></td><td style="text-align: justify">Other segment items include investment income, interest expense and foreign currency (gain) loss, which are disclosed in the consolidated financial statements.</td> </tr></table>

<p id="xdx_898_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_hus-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_zU3ina5D1iMd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"> SCHEDULE OF SEGMENT BASED ON NET LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20260630_zAwS0nPHwky6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_z47zMv1OoALg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z8DlHpazAF5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Total Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">13,185,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ProgramSpend_zNRTseayhtM7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Program spend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,066,487</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,548,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PersonnelCosts_zPBOrLmia3P4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Personnel costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,313,404</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,496,251</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AdministrativeFeesExpense_zSTwj56mXcA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Administrative costs (a)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,473,428</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,662,973</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--GainOnSaleOfVyleesi_iN_di_zlC3d6dj22H9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain on Sale of Vyleesi</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,130,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--GainLossOnPurchaseCommitment_iN_di_zdO86hdHkXIa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain on Purchase Commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,117,900</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--SegmentReportingOtherItemAmount_zwJD3kbcQUF2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other segment items (b)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(290,393</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(152,591</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--SegmentNetLoss_zFvhVuLycAF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Segment net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,377,895</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,307,349</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(a)</td><td style="width: 5pt"></td><td style="text-align: justify">Contains depreciation and amortization. Depreciation was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNFR01FTlQgQkFTRUQgT04gTkVUIExPU1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--Depreciation_c20250701__20260630_z14sygvCorAk" title="Depreciation">62,679 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNFR01FTlQgQkFTRUQgT04gTkVUIExPU1MgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--Depreciation_c20240701__20250630_zhYemwnVQQCc" title="Depreciation">258,917 for the years ended June 30 2026 and 2025, respectively</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(b)</td><td style="width: 5pt"></td><td style="text-align: justify">Other segment items include investment income, interest expense and foreign currency (gain) loss, which are disclosed in the consolidated financial statements.</td> </tr></table>

13185031

6066487 8548616 10313404 9496251

5473428

4662973

3130000 2117900

-290393

-152591

-8377895 17307349

62679

258917

(14) STOCKHOLDERS’ EQUITY (DEFICIENCY) Series D Convertible Preferred Stock – On June 10, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue, in a private placement (the “June 2025 Private Placement”), <span id="xdx_907_ecustom--ConvertiblePreferredStockDescription_c20250610__20250610__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStocksMember_zTdMwPsOvdic" title="Description of convertible preferred stock">(i) an aggregate of 3,400 shares of the Company’s newly designated Series D Convertible Preferred Stock, par value $0.01, with a stated value of $100 per share (the “Series D Preferred Stock”), initially convertible into up to 61,816 shares of the Company’s common stock (such shares underlying the Preferred Stock, the “Conversion Shares”), par value $0.01 per share at an initial conversion price of $<span id="xdx_903_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250610__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStocksMember_z9ivmchjJDV6" title="Conversion price">5.50, and (ii) Series I common stock purchase warrants (the “Series I Warrants”) to purchase up to an aggregate of 123,636 shares of Common Stock (such shares underlying the Series I Warrants, the “Series I Warrant Shares”). The Series D Preferred Stock and Series I Warrants were sold at a combined offering price of $<span id="xdx_90E_ecustom--OfferingPricePerShare_iI_pid_c20250610__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStocksMember_z8HmDk44Ehd2" title="Preferred stock and warrants combined offering price">5.50 per share of Series D Preferred Stock and accompanying Series I Warrants. The Purchasers in the June 2025 Private Placement consisted of Carl Spana, the Company’s President and Chief Executive Officer, Stephen T. Wills, the Company’s Executive Vice President, Chief Financial Officer, and Chief Operating Officer, John K.A. Prendergast, a director and Chairperson of the Company’s board of directors, and Alan W. Dunton, a director on the Company’s board of directors, who are all related parties of the Company. The Series D Preferred Stock has a dividend rate of <span id="xdx_90A_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250610__20250610__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStocksMember_zoTJRKqBYMh3" title="Dividend on preferred stock">8% per annum, which when declared may, at the option of the Company, be paid in cash or can accrete and be added to the stated value of the Series D Preferred Stock. Subject to the rights of any class or series of stock senior to or equivalent to the Series D Preferred Stock, the Series D Preferred Stock shall be entitled to be paid in the event of liquidation, dissolution or winding up of the Company, out of available funds and assets, prior and in preference to any distribution on any junior stock, an amount per share equal to the then stated value of the Series D Preferred Stock and declared but unpaid dividends. Each share of Series D Preferred Stock is convertible at any time, at the option of the holder, and such conversion could dilute the value of our common stock to current stockholders and could adversely affect the market price of our common stock. The conversion price decreases if we sell common stock (or equivalents) for a price per share less than the conversion price and is also subject to adjustment upon the occurrence of a merger, reorganization, consolidation, reclassification, stock dividend or stock split which results in an increase or decrease in the number of shares of common stock outstanding. The June 2025 Private Placement closed on June 13, 2025. The gross proceeds from the June 2025 Private Placement, before deducting offering expenses, were $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250701__20260630__us-gaap--SubsidiarySaleOfStockAxis__custom--JuneTwoThousandTwentyFivePrivatePlacementMember_zmQMLvnKWJNe" title="Gross proceeds from offering">340,000. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Series A Convertible Preferred Stock – As of June 30, 2026, <span id="xdx_902_eus-gaap--PreferredStockSharesOutstanding_iI_c20260630__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesAPreferredStocksMember_z7WOE66e2ie2" title="Preferred stock, shares outstanding">4,030 shares of Series A Convertible Preferred Stock were outstanding. Each share of Series A Convertible Preferred Stock is convertible at any time, at the option of the holder, into the number of shares of common stock equal to $<span id="xdx_901_eus-gaap--CashAvailableForDistributions_iI_c20260630__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesAPreferredStocksMember_znS3T0MpFDA7" title="Distributable value of dividend">100 divided by the Series A Conversion Price. As of June 30, 2026, the Series A Conversion Price was $260.86, and each share of Series A Convertible Preferred Stock is convertible into approximately 0.38 shares of common stock. The Series A Conversion Price is subject to adjustment, under certain circumstances, upon the sale or issuance of common stock for consideration per share less than either (i) the Series A Conversion Price in effect on the date of such sale or issuance, or (ii) the market price of the common stock as of the date of such sale or issuance. The Series A Conversion Price is also subject to adjustment upon the occurrence of a merger, reorganization, consolidation, reclassification, stock dividend or stock split which will result in an increase or decrease in the number of shares of common stock outstanding. Shares of Series A Convertible Preferred Stock have a preference in liquidation, including certain merger transactions, of $<span id="xdx_902_ecustom--DistributableValueOfDividendPerShare_iI_c20260630__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesAPreferredStocksMember_z60NleTT9wGj" title="Distributable value of dividend">100 per share, or $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20250701__20260630__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesAPreferredStocksMember_znfa4EW7dWYe" title="Aggregate value">403,000 in the aggregate as of June 30, 2026. Additionally, the Company may not pay a dividend or make any distribution to holders of any class of stock unless the Company first pays a special dividend or distribution of $100 per share to holders of the Series A Convertible Preferred Stock. Financing Transactions – On November 5, 2025, the Company entered into an underwriting agreement with A.G.P./Alliance Global Partners (“A.G.P.”) relating to the Company’s public offering of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePreFundedWarrantsMember_zyqY11jrLOA1" title="Shares of common stock">2,430,769 shares of common stock (or pre-funded warrants in lieu thereof) together with Series J warrants to purchase up to <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_z0yQOIfZEpvf" title="Shares of common stock">2,430,769 shares of common stock (the “Series J Warrants”), and Series K warrants to purchase up to <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zxvPTnnTltrj" title="Shares of common stock">2,430,769 shares of common stock (the “Series K Warrants”) at a combined public offering price of $<span id="xdx_906_ecustom--OfferingPricePerShareOfCombinedCommonStockAndWarrants_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zHx9KpqIBqr5" title="Common stock and warrants combined offering price"><span id="xdx_900_ecustom--OfferingPricePerShareOfCombinedCommonStockAndWarrants_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zeysJlEhZnl6" title="Common stock and warrants combined offering price">6.50 per share of common stock and accompanying Series J and Series K Warrants (the “November 2025 Offering”). The underwriters also had an option, which was exercised, to purchase up to an additional <span id="xdx_901_ecustom--AdditionalSharesOfCommonStock_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zTVm42dundK2" title="Additional shares of common stock"><span id="xdx_901_ecustom--AdditionalSharesOfCommonStock_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zduBkKqvAMyk" title="Additional shares of common stock">364,615 shares of the Company’s common stock and associated Series J and K Warrants on the same terms and conditions. Each Series J Warrant has an exercise price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251105__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_z7W5HJ0gnldb" title="Exercise price">6.50 per share and is immediately exercisable. The Series J Warrants expire on the earlier of (i) the eighteen-month anniversary of the original issuance date or (ii) on the 31st calendar day following the date that the Company receives the FDA acceptance of the Company’s Investigational New Drug for an in-house obesity treatment compound (long-acting peptide or oral small molecule) (the “FDA Exercise Period”). Each Series K Warrant has an exercise price of $8.125 per share and is immediately exercisable. The Series K Warrants expire on the five-year anniversary of the original issuance date, however, if a holder’s Series J Warrants have not been terminated in accordance with their terms prior to the expiration of the FDA Exercise Period, such holder’s Series K Warrants will terminate automatically upon the earlier of the (i) eighteen-month anniversary of the original issuance date of the Series J Warrants or (ii) expiration of the FDA Exercise Period and prior to the five-year anniversary of the issuance of the Series K Warrant. The gross proceeds to the Company from the November 2025 Offering, before deducting the underwriting discounts and commissions and offering expenses, were approximately $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember_zBlEO8VMAeFf" title="Gross proceeds from offering">18,200,000, including the exercise by the underwriters to purchase an additional <span id="xdx_90B_ecustom--AdditionalSharesOfCommonStock_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_z7e3PvDSGNU1" title="Additional shares of common stock"><span id="xdx_908_ecustom--AdditionalSharesOfCommonStock_c20251105__20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember__us-gaap--StatementClassOfStockAxis__custom--SeriesKWarrantsMember_z0TZpclqSD3j" title="Additional shares of common stock">364,615 shares of the Company’s common stock and associated Series J and K Warrants. The pre-funded warrants are exercisable at a nominal exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251105__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AllianceGlobalPartnersMember_z6ngZtOqP5El" title="Exercise price">0.0001 per share until exercised in full and may not be exercised to the extent such exercise would cause the holder to beneficially own more than 4.99% or 9.99%, as applicable, of the Company’s outstanding common stock. The November 2025 Offering closed on November 12, 2025, and was subject to the satisfaction of customary closing conditions. On May 7, 2025, the Company announced the closing of a reduced previously announced public offering with participation from institutional and accredited investors consisting of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250507__20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InvestorsMember_zN8IO9iwAsF" title="Shares of common stock">146,479 shares of common stock together with Series F warrants to purchase up to <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250507__20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zyVtnQ8zQmP" title="Shares of common stock">146,479 shares of common stock (the “Series F Warrants”), Series G warrants to purchase up to <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250507__20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_z2xygRhVOH2j" title="Shares of common stock">146,479 shares of common stock (the “Series G Warrants”), and Series H warrants to purchase up to <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250507__20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zMVJAmXfDx28" title="Shares of common stock">146,479 shares of common stock (the “Series H Warrants”), at a combined public offering price of $<span id="xdx_906_ecustom--OfferingPricePerShareOfCombinedCommonStockAndWarrants_c20250507__20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zalVzIa7c4Uc" title="Common stock and warrants combined offering price">7.50 per share of common stock and accompanying warrants (the “May 2025 Offering”). The Series F Warrants have an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zFP0wKDwEBTe" title="Exercise price">15.00 per share, are immediately exercisable and expire on the five-year anniversary of the original issuance date, subject to the certain terms as defined in such warrant. The Series G Warrants have an exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zKxvkmR7OANd" title="Exercise price">7.50 per share, are immediately exercisable and expire on the earlier of (i) the 24-month anniversary of the original issuance date or (ii) the expiration of the FDA Exercise Period (as such term is defined in the Series G Warrant). The Series H Warrants will be issuable to the holder upon their exercise of the Series G Warrants, will have an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250507__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_z3aaWHxmkeg6" title="Exercise price">11.25 per share, will be immediately exercisable upon issuance and will expire on the 24-month anniversary of their issuance date. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements The Company received aggregate gross proceeds from the May 2025 Offering of approximately $1,100,000. The Company used the net proceeds from the May 2025 Offering primarily for working capital and general corporate purposes. On February 10, 2025, the Company entered into definitive agreements with a single healthcare focused institutional investor for the purchase and sale of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesOther_c20250210__20250210__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zrkSfs7yM9Q2" title="Common stock share purchased">93,760 shares of its common stock (or common stock equivalents in lieu thereof) in a registered direct offering (the “February 2025 RD Offering”) at a purchase price of $50.00 per share. The Company also agreed to issue to the same investor in a concurrent private placement warrants to purchase up to an aggregate of 93,760 shares of common stock (the “February 2025 Private Placement” and, together with the February 2025 RD Offering, the “February 2025 Offering”). The warrants issued in the concurrent February 2025 Private Placement have an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250210__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zzKVeH9aqY7k" title="Exercise price per share">50.00 per share, are exercisable 181 days after their issuance and expire approximately five and a half years from the date of issuance. The gross proceeds from the February 2025 Offering totaled $4,687,786 with net proceeds after deducting the placement agent fees and offering expenses, amounting to $4,309,641. The Company used the net proceeds from the February 2025 Offering for general corporate purposes. The Company paid the placement agents a cash fee equal to 7.0% of the aggregate gross proceeds of the February 2025 Offering. On February 11, 2025, the Company entered into a sales agreement (the “2025 Sales Agreement”) with A.G.P., pursuant to which the Company may, from time to time, sell shares of the Company’s common stock at market prices by methods deemed to be an “at-the-market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The 2025 Sales Agreement and related prospectus are limited to sales of up to an aggregate maximum of $6.0 million of shares of the Company’s common stock. The Company pays A.G.P. 3.0% of the gross proceeds as a commission. No proceeds were raised under the 2025 Sales Agreement during the years ended June 30, 2026, and 2025. Stock Warrants - During the year ended June 30, 2026, the Company received proceeds from the following warrant exercises: SCHEDULE OF WARRANT EXERCISES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Series</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Series F Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zG08CdRnTvM" style="width: 14%; text-align: right" title="Warrants exercise price">15.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zDh1jFn2TUob" style="width: 14%; text-align: right" title="Warrants exercises, shares">16,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zGUxDKykfhtc" style="width: 14%; text-align: right" title="Proceeds from warrant exercises">252,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Series G Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_z3MjznZD3wVj" style="text-align: right" title="Warrants exercise price">7.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_zVIWDvWLp0pc" style="text-align: right" title="Warrants exercises, shares">82,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_zeEIV0H3WZa2" style="text-align: right" title="Proceeds from warrant exercises">615,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Series H Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zONDt85nbKil" style="text-align: right" title="Warrants exercise price">11.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zNviLPh8lUUe" style="text-align: right" title="Warrants exercises, shares">31,499</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zQifHJ2GAAMh" style="text-align: right" title="Proceeds from warrant exercises">354,364</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Series J Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_zBVlKXP1O7Pd" style="text-align: right" title="Warrants exercise price">6.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_zQpelcsugFcd" style="text-align: right" title="Warrants exercises, shares">29,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_z9I0fi5XqTlb" style="text-align: right" title="Proceeds from warrant exercises">194,896</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Series K Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_z87P7ERwta8e" style="padding-bottom: 1pt; text-align: right" title="Warrants exercise price">8.125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_zhkIWr5rwqRh" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants exercises, shares">24,984</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_zZkxQXVjDkw8" style="border-bottom: Black 1pt solid; text-align: right" title="Proceeds from warrant exercises">202,994</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_ecustom--WarrantExercisesShares_c20250701__20260630_zodtGOIDFn69" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercises, shares">185,425</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630_zFTheBRB9Vbf" style="border-bottom: Black 2.5pt double; text-align: right" title="Proceeds from warrant exercises">1,620,941</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As a result of the Series G warrant exercises, investors received <span id="xdx_90A_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zT7NBQxozzmf" title="Warrants exercises, shares">82,092 Series H warrants at an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zQwCzYrKHlYi" title="Warrants exercise price">11.25 per share for the year ended June 30, 2026. On December 13, 2024, the Company entered into a letter agreement (the “December 2024 Inducement Letter”) with a holder (the “December 2024 Exercising Holder”) of outstanding common stock purchase warrants that the Company issued on June 24, 2024, with an initial exercise price of $94.00, and October 24, 2023, with an initial exercise price of $106.00 (the “December 2024 Existing Warrants”). To induce the exercise of a portion of the December 2024 Existing Warrants by the December 2024 Exercising Holder, the Company agreed to adjust the exercise price of such portion of the December 2024 Existing Warrants to $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241213__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyFourExistingWarrantsMember_z7XQmzxvgaX2" title="Warrants exercise price">43.75. Pursuant to the December 2024 Inducement Letter, the December 2024 Exercising Holder agreed to exercise, for cash, the December 2024 Existing Warrants to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20241213__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyFourExistingWarrantsMember_z5bLEalhjvXc" title="Warrants to purchase shares">78,153 shares of common stock at the adjusted exercise price in exchange for the Company’s agreement to issue to the December 2024 Exercising Holder Series C common stock purchase warrants to purchase <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20241213__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesCWarrantsMember_z1cd1R8mveE9" title="Warrants to purchase shares">78,153 shares of common stock (the “Series C Warrants”) and Series D common stock purchase warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20241213__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesDWarrantsMember_zu5d9TgO33q" title="Warrants to purchase shares">39,076 shares of common stock (the “Series D Warrants” and together with the Series C Warrants, the “December 2024 Inducement Warrants,” and the shares issuable upon exercise of the December 2024 Inducement Warrants, the “December 2024 Inducement Warrant Shares”). The Company received aggregate gross proceeds of $3,419,219 from the exercise of the December 2024 Existing Warrants by the December 2024 Exercising Holder (the “December 2024 Warrant Inducement”). The incremental value of the December 2024 Warrant Inducement was recorded as an offering expense against the proceeds received in additional paid-in capital. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements As of June 30, 2026, the Company had outstanding warrants for shares of common stock as follows: SCHEDULE OF OUTSTANDING STOCK PURCHASE WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Shares of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Latest</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expiration Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; text-align: left">October 2022 Placement Agent Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_zcXMUUogniI" style="width: 14%; text-align: right" title="Shares of Common Stock">1,818</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_z8Fxe69oIi37" style="width: 14%; text-align: right" title="Exercise Price per Share">10.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 20%; text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_zTDf8jwAiNo" title="Latest Termination Date">October 31, 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">October 2023 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_zs1bjxEdxd4a" style="text-align: right" title="Shares of Common Stock">2,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_zAyaHKyZCVIa" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_z8OGMMOaCoi4" title="Latest Termination Date">October 20, 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">January 2024 Private Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_z8zjXUWOHDK9" style="text-align: right" title="Shares of Common Stock">36,630</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_zP3nFhCnG6gc" style="text-align: right" title="Exercise Price per Share">273.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_zJLKeB4JvI09" title="Latest Termination Date">February 1, 2028</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">January 2024 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_zUTs3JuFseT6" style="text-align: right" title="Shares of Common Stock">1,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_zp5ctes43l32" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_znN0pPjnahFa" title="Latest Termination Date">February 1, 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 2024 Series B Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_zgqeiuen6hK8" style="text-align: right" title="Shares of Common Stock">37,712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_zJ4jCsUKHUJi" style="text-align: right" title="Exercise Price per Share">94.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_fKg_____z465dV3Vj4I7" title="Latest Termination Date">July 25, 2030 *</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">December 2024 Series C Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_z9pJMmMK1DUh" style="text-align: right" title="Shares of Common Stock">78,153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_zYjjOk2Fkk6j" style="text-align: right" title="Exercise Price per Share">43.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_zXm1Smlp6SOi" title="Latest Termination Date">December 17, 2029</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">December 2024 Series D Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_za0iNaz4MPK3" style="text-align: right" title="Shares of Common Stock">39,076</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_zEBo5zNxwLwa" style="text-align: right" title="Exercise Price per Share">43.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_zmDjasUWIiJg" title="Latest Termination Date">July 25, 2030</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">February 2025 Series E Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zVQNKE8zM1c2" style="text-align: right" title="Shares of Common Stock">93,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zm6rPCxJ1f31" style="text-align: right" title="Exercise Price per Share">50.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zFVY7zSpLovb" title="Latest Termination Date">August 12, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">May 2025 Series F Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zhwnAqfjBiPg" style="text-align: right" title="Shares of Common Stock">129,613</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zBdqXyU5SZIa" style="text-align: right" title="Exercise Price per Share">15.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zW4Lp9dsdTNg" title="Latest Termination Date">May 8, 2030</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">May 2025 Series G Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zVsQ3JhYmve3" style="text-align: right" title="Shares of Common Stock">64,387</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zCxnRZlJWq12" style="text-align: right" title="Exercise Price per Share">7.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zGanv02WbA85" title="Latest Termination Date">May 8, 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">May 2025 Series H Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zYGPLC7m1aMe" style="text-align: right" title="Shares of Common Stock">50,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zWpD9QrfFUqb" style="text-align: right" title="Exercise Price per Share">11.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_fKio___z2NoaiiKXGj" style="display: none" title="Latest Termination Date">-**</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">June 2025 Series I Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zj4IaXS0iVYh" style="text-align: right" title="Shares of Common Stock">123,636</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zXDDda3zV9y5" style="text-align: right" title="Exercise Price per Share">5.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zQyBiWnMSdt8" title="Latest Termination Date">July 25, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 Pre-funded Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePreFundedWarrantsMember_zvckcfDn73m4" style="text-align: right" title="Shares of Common Stock">2,136,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePreFundedWarrantsMember_zMYbf3l3lv55" style="text-align: right" title="Exercise Price per Share">0.0001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">November 2025 Series J Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_zXjy5G0Zws6a" style="text-align: right" title="Shares of Common Stock">2,765,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_zQJYTwQzgA9f" style="text-align: right" title="Exercise Price per Share">6.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_fKioq_z8lD3l3auRgc" style="display: none" title="Latest Termination Date">-***</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 Series K Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_ziBwhEP49tog" style="text-align: right" title="Shares of Common Stock">2,770,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zsHR909WVJzi" style="text-align: right" title="Exercise Price per Share">8.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_fKioqKg_____zyTVGvQqLOp5" style="display: none" title="Latest Termination Date">-****</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">November 2025 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_z6F7Fnxr27he" style="text-align: right" title="Shares of Common Stock">55,907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_z61QlMWBanO4" style="text-align: right" title="Exercise Price per Share">8.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_zUubx3yMi2Ff" title="Latest Termination Date">November 12, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 HCW Settlement Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zycDvk8Q6HZ3" style="text-align: right" title="Shares of Common Stock">10,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zw6bZVLch4oi" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zqmHM3NIsspk" title="Latest Termination Date">January 12, 2028</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_dd_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--StockWarrantsMember_zsWqJZJ8cLv5" title="Number of warrants">5,228 warrants expire <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--StockWarrantsMember_zqdYrNZV8tEk" title="Warrants expire date">June 24, 2029</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">**</td><td style="width: 5pt"></td><td style="text-align: justify">Expire <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zr3Dv3LGPqVb" title="Warrants expire term">24 months following the initial exercise date</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">***</td><td style="width: 5pt"></td><td style="text-align: justify">Expires the earlier of (i) the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_z35XsUFSo6hh" title="Warrants expire term">18-month anniversary of the Initial Exercise Date if FDA IND acceptance has not been received, or (ii) 31 days after notice of FDA IND acceptance, in each case adjusted to the next Trading Day; provided that under clause (ii) the date is extended until a registration statement and prospectus are available for 30 consecutive days.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">****</td><td style="width: 5pt"></td><td style="text-align: justify">Expire on the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zOyVErqRix1a" title="Warrants expire term">5-year anniversary of the Initial Exercise Date, or, if the Holder’s Series J Common Stock Purchase Warrant terminates pursuant to clause (ii) thereof prior to full cash exercise, the same Termination Date as the Series J Warrant, in each case adjusted to the next Trading Day; provided that the date is extended until a registration statement and prospectus are available for 30 consecutive days following notice of FDA IND acceptance.</td> </tr></table> Stock Plan – The Company’s 2011 Stock Incentive Plan (“2011 Stock Incentive Plan”) was approved by the Company’s stockholders at the annual meeting of stockholders held in May 2011 and amended at the annual meeting of stockholders held on June 8, 2017, June 26, 2018, June 25, 2020, June 24, 2022, June 20, 2023, June 27, 2024, and again at the annual meeting of stockholders held on July 25, 2025. The 2011 Stock Incentive Plan, as amended, provides for incentive and non-qualified stock option grants, restricted stock unit awards and other stock-based awards to employees, non-employee directors and consultants for up to <span id="xdx_90F_ecustom--ContributionOfNumberOfShare_c20250701__20260630__us-gaap--PlanNameAxis__custom--TwoThousandElevenStockIncentivePlanMember_z3HnvOZJlaZ2" title="Voluntarily contributed stock options number of share">146,000 shares of common stock. The 2011 Stock Incentive Plan is administered under the direction of the Company’s board of directors, which may specify grant terms and recipients. Options granted by the Company generally expire ten years from the date of grant and generally vest over three to four years. The Company’s former 2005 Stock Plan was terminated and replaced by the 2011 Stock Incentive Plan, and shares of common stock that were available for grant under the 2005 Stock Plan became available for grant under the 2011 Stock Incentive Plan. No new awards can be granted under the 2005 Stock Plan, but awards granted under the 2005 Stock Plan remained outstanding in accordance with their terms. As of June 30, 2026, 973 shares were available for grant under the 2011 Stock Incentive Plan. The Company expects to settle option exercises under any of its plans with authorized but currently unissued shares. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements The following table summarizes option activity and related information for the years ended June 30, 2026, and 2025: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Outstanding - June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240701__20250630_zcrIvgcvC012" style="width: 12%; text-align: right" title="Number of options outstanding, beginning balance">45,269</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240701__20250630_zIwzNa1pa2q3" style="width: 12%; text-align: right" title="Weighted average exercise price, beginning balance">305.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230701__20240630_zR7F5dPgFvij" title="Weighted average remaining term in years, options outstanding">8.2</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240701__20250630_zap9HFyobsk4" style="text-align: right" title="Number of options, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240701__20250630_zjDTIKJiSv9h" style="text-align: right" title="Weighted average exercise price, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240701__20250630_zsKExJsQp9Ml" style="text-align: right" title="Number of options, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20240701__20250630_zhcJmIXESAM4" style="text-align: right" title="Weighted average exercise price, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20240701__20250630_zrCQbM9K6Pb1" style="text-align: right" title="Number of options, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20240701__20250630_zTNIKegh2Jbe" style="text-align: right" title="Weighted average exercise price, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20240701__20250630_ztC67mxT0YUi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired">(464</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240701__20250630_zTvzjy35yJB" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">654.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outstanding - June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250701__20260630_ztyCSZEtROK4" style="text-align: right" title="Number of options outstanding, beginning balance">44,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250701__20260630_zzXf1D4NZSzj" style="text-align: right" title="Weighted average exercise price, beginning balance">302.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240701__20250630_zev6RxysFEL4" title="Weighted average remaining term in years, options outstanding">7.3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630_zSFq4DeZPq05" style="text-align: right" title="Number of options, granted">46,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250701__20260630_z0jhu3MJMAv7" style="text-align: right" title="Weighted average exercise price, granted">21.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fractional shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFractionalShares_iN_di_c20250701__20260630_z1MVb9DqhVt3" style="text-align: right" title="Number of options, fractional shares">(14</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250701__20260630_z79rBil4KxOg" style="text-align: right" title="Number of options, forfeited">(1,266</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250701__20260630_z01xGTR0zxua" style="text-align: right" title="Weighted average exercise price, forfeited">76.33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20250701__20260630_zBhP8YN8ffKe" style="text-align: right" title="Number of options, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250701__20260630_z0PsTlkXjzXa" style="text-align: right" title="Weighted average exercise price, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250701__20260630_z9b3RNk7oNrf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired">(5,094</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250701__20260630_zpnpmEHNygYa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">484.55</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding - June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250701__20260630_zMUM8jiNE4Gj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, ending balance">84,981</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250701__20260630_z17qWjx4EhWi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending balance">145.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250701__20260630_zC6DofdHvxR" title="Weighted average remaining term in years, options outstanding">7.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20260630_zfUFhsQPuouj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options outstanding">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260630_z4F6jVH3Ano3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options. exercisable">27,625</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260630_zvr9PVDLLnpl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">369.59</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260630_znFIJvJfUGwf" title="Weighted average remaining term in years, options exercisable">5.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20250701__20260630_z5YF8uVYKdm3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Expected to vest at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_c20260630_zdQpOswYc3m9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options. expected to vest">57,356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_c20260630_zmXsniBY3zZi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, expected to vest">35.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260630_zmi1QAzJLTW2" title="Weighted average remaining term in years, options expected to vest">8.0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_c20260630_zl2o0pEEBm82" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options expected to vest">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stock options granted to its non-employee directors vest over a 12-month period. During the year ended June 30, 2026, executive officers of the Company were granted an aggregate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionsMember_zbI3atXJGond" title="Granted shares">16,000 time-based stock options and <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zFCl1HkMCKf7" title="Granted shares">16,000 performance-based stock options which are excluded from the table above. <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionsMember_zPdB4n8nQL54" title="Award vesting period description">The time-based options vest ratably over four years. <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zqIHd2T7CuJ8" title="Award vesting period description">The performance-based options vest over four years, upon certification by the Compensation Committee that specified performance objectives have been achieved. Compensation expense for these awards will be recognized when achievement of the applicable performance conditions is considered probable. In addition, the executive officers received an aggregate of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember__srt--TitleOfIndividualAxis__custom--ExecutiveOfficersMember_zVyB1X8xESV4" title="Granted shares">48,000 performance-based stock options with an 18-month performance period. These options vest upon acceptance by the FDA of an IND application for an in-house obesity compound, subject to certification by the Compensation Committee. All of the stock option grants described above are subject to stockholders approving an increase in the Company’s 2011 Equity Incentive Plan. In accordance with ASC 718, no compensation cost related to these awards will be recognized until stockholder approval is obtained and the awards are considered granted for accounting purposes. Included in the outstanding options in the table above are <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember__srt--TitleOfIndividualAxis__custom--ExecutiveOfficersMember_zhWhlRVgSY66" title="Unvested granted shares">5,376 and <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember__srt--TitleOfIndividualAxis__custom--OtherEmployeesMember_zMdBmkmLb0Gb" title="Unvested granted shares">2,750 unvested performance-based stock options granted to executive officers and other employees, respectively, which were granted in June 2022, 2023, 2024 and December 2025. Grants in June 2022, 2023, 2024 and December 2025 were <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20220630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_z7XrAzvlL4rh" title="Unvested granted shares">1,211, <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230601__20230630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zPZVZpVEHfrj" title="Unvested granted shares">4,777, <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240601__20240630__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zVM6jWjZ0ts5" title="Unvested granted shares">5,299 and <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20251201__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zWtTKcLi3kic" title="Unvested granted shares">1,743, respectively. The performance-based stock options vest based on annual performance criteria through the fiscal year ending June 30, 2030, relating to advancement of MCR programs. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements The Company did not grant stock options for the year ended June 30, 2025. For the year ended June 30, 2026, the fair value of option grants was estimated at the grant date using the Black-Scholes model. The Company’s weighted average assumptions for the year ended June 30, 2026, was as follows: SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zsFshMEvLh47" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_zYszhLPD84x7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">3.9</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_z9J9MsE8G0Y9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Volatility factor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109.7</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_z1NWwBJXJZC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average grant date fair value</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16.45</td><td style="text-align: left"> </td></tr> </table> Expected volatilities are based on the Company’s historical volatility. The expected term of options is based upon the simplified method, which represents the average of the vesting term and the contractual term. The risk-free interest rate is based on U.S. Treasury yields for securities with terms approximating the expected term of the option. For the years ended June 30, 2026, and 2025, the Company recorded stock-based compensation related to stock options of $579,389 and $702,789, respectively. As of June 30, 2026, there was $881,056 of unrecognized compensation cost related to unvested options, which is expected to be recognized over a weighted-average period of 1.9 years. Restricted Stock Units – The following table summarizes restricted stock award activity for the years ended June 30, 2026, and 2025. <p id="xdx_897_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zlF8EX5Tf0tg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"> SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding at beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJBjlmdDbcll" style="width: 16%; text-align: right" title="Number of RSU, outstanding, beginning balance">22,787</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zccDEAivWi8g" style="width: 16%; text-align: right" title="Number of RSU, outstanding, beginning balance">27,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfsUQWdVUTz1" style="text-align: right" title="Number of RSU, granted">24,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zUiF15hbRVV6" style="text-align: right" title="Number of RSU, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8asS6qHC0qa" style="text-align: right" title="Number of RSU, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zi0QeuBMNbxh" style="text-align: right" title="Number of RSU, forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEpHEUqf5w84" style="text-align: right" title="Number of RSU, vested">(6,467</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zCuCo9SqCCQk" style="text-align: right" title="Number of RSU, vested">(4,659</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Expirations</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpirations_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmt7OP1SgVDk" style="text-align: right" title="Number of RSU, expirations">(1,453</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpirations_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNWB13k8fjub" style="text-align: right" title="Number of RSU, expirations">(54</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Fractional shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsFractionalShares_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwNnVZLyyoV4" style="border-bottom: Black 1pt solid; text-align: right" title="Number of RSU, fractional shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsFractionalShares_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwVEQJQPnq3a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of RSU, fractional shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding at end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zE4BwqceBK7k" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of RSU, outstanding, ending balance">39,817</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7jPlNCplHcd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of RSU, outstanding, ending balance">22,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> For the years ended June 30, 2026, and 2025, the Company recorded stock-based compensation related to restricted stock units of $ 749,698 and $679,492, respectively. During the year ended June 30, 2026, executive officers of the Company were granted, subject to stockholder approval, an aggregate of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TimeBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_zH6P13BWEri7" title="Granted shares">13,000 time-based RSUs and <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_zP0ojNJTjgKd" title="Granted shares">13,000 performance-based RSUs. <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TimeBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_zY5fugSZQTE2" title="Award vesting period description">The time-based RSUs vest ratably over four years. <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_zZpuWOQFU5X1" title="Award vesting period description">The performance-based RSUs vest over four years, upon certification by the Compensation Committee that specified performance objectives have been achieved. Compensation expense for these awards will be recognized when achievement of the applicable performance conditions is considered probable. In addition, the executive officers received an aggregate of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember_z2FsuWqgab6d" title="Granted shares">39,000 performance-based RSUs with an 18-month performance period. These RSUs vest upon acceptance by the FDA of an IND application for an in-house compound, subject to certification by the Compensation Committee. The RSU grants described above are subject to stockholders approving an increase in the Company’s 2011 Equity Incentive Plan. In accordance with ASC 718, no compensation cost related to these awards will be recognized until stockholder approval is obtained and the awards are considered granted for accounting purposes. Included in outstanding RSUs in the table above are <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_zt1cD6aN2Qxl" title="Vested shares">7,844 vested shares that have not been issued as of June 30, 2026, due to a provision in the RSU agreements for deferred delivery. <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TimeBasedRestrictedStockUnitsMember_zvf9H4HIrwLf" title="Award vesting period description">Time-based RSUs granted to the Company’s executive officers, other employees, and non-employee directors generally vest over 48 months, 48 months, and 12 months, respectively. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Included in the outstanding RSUs in the table above are <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__custom--ExecutiveOfficersMember_zh8cdBCEbLf" title="Unvested granted shares">3,457 and <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember__srt--TitleOfIndividualAxis__custom--OtherEmployeesMember_zTPDyt59H5p5" title="Unvested granted shares">2,079 unvested performance-based RSUs granted to executive officers and other employees, respectively, which were granted in June 2022, 2023, 2024 and December 2025. Grants in June 2022, 2023, 2024 and December 2025 were <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220601__20220630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember_zIsVOIwNNv43" title="Unvested granted shares">814, <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230601__20230630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember_zNIF4dMG1Eq7" title="Unvested granted shares">3,049, <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240601__20240630__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember_zoyLgXM8Jc69" title="Unvested granted shares">3,689 and <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20251201__20251231__us-gaap--AwardTypeAxis__custom--PerformanceBasedRestrictedStockUnitsMember_zIhGu16RPzk8" title="Unvested granted shares">1,432 RSUs, respectively. The performance-based RSUs vest based on annual performance criteria through the fiscal years ending June 30, 2028, relating to advancement of MC1R programs, including initiation of clinical trials. In connection with the vesting of restricted share units during the years ended June 30, 2026, and 2025, the Company withheld 1,533 and 1,094 shares, respectively, with aggregate values of $19,513 and $99,482, respectively, in satisfaction of minimum tax withholding obligations.

(i) an aggregate of 3,400 shares of the Company’s newly designated Series D Convertible Preferred Stock, par value $0.01, with a stated value of $100 per share (the “Series D Preferred Stock”), initially convertible into up to 61,816 shares of the Company’s common stock (such shares underlying the Preferred Stock, the “Conversion Shares”), par value $0.01 per share at an initial conversion price of $5.50

5.50

123636 5.50

0.08

340000

4030

100

260.86

0.38

100

403000

100

2430769

6.50 6.50 364615 364615

6.50

8.125

18200000

364615 364615

0.0001

146479

7.50

15.00

7.50

11.25

1100000

93760

50.00

93760

50.00

4687786

4309641 0.070 The 2025 Sales Agreement and related prospectus are limited to sales of up to an aggregate maximum of $6.0 million of shares of the Company’s common stock. The Company pays A.G.P. 3.0% of the gross proceeds as a commission. SCHEDULE OF WARRANT EXERCISES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Series</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Series F Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zG08CdRnTvM" style="width: 14%; text-align: right" title="Warrants exercise price">15.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zDh1jFn2TUob" style="width: 14%; text-align: right" title="Warrants exercises, shares">16,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesFWarrantsMember_zGUxDKykfhtc" style="width: 14%; text-align: right" title="Proceeds from warrant exercises">252,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Series G Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_z3MjznZD3wVj" style="text-align: right" title="Warrants exercise price">7.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_zVIWDvWLp0pc" style="text-align: right" title="Warrants exercises, shares">82,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesGWarrantsMember_zeEIV0H3WZa2" style="text-align: right" title="Proceeds from warrant exercises">615,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Series H Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zONDt85nbKil" style="text-align: right" title="Warrants exercise price">11.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zNviLPh8lUUe" style="text-align: right" title="Warrants exercises, shares">31,499</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesHWarrantsMember_zQifHJ2GAAMh" style="text-align: right" title="Proceeds from warrant exercises">354,364</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Series J Warrants</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_zBVlKXP1O7Pd" style="text-align: right" title="Warrants exercise price">6.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_zQpelcsugFcd" style="text-align: right" title="Warrants exercises, shares">29,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesJWarrantsMember_z9I0fi5XqTlb" style="text-align: right" title="Proceeds from warrant exercises">194,896</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Series K Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_z87P7ERwta8e" style="padding-bottom: 1pt; text-align: right" title="Warrants exercise price">8.125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--WarrantExercisesShares_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_zhkIWr5rwqRh" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants exercises, shares">24,984</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesKWarrantsMember_zZkxQXVjDkw8" style="border-bottom: Black 1pt solid; text-align: right" title="Proceeds from warrant exercises">202,994</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_ecustom--WarrantExercisesShares_c20250701__20260630_zodtGOIDFn69" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercises, shares">185,425</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ProceedsFromWarrantExercises_c20250701__20260630_zFTheBRB9Vbf" style="border-bottom: Black 2.5pt double; text-align: right" title="Proceeds from warrant exercises">1,620,941</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

15.00

16866

252990

7.50

82092

615697

11.25

31499

354364

6.50

29984

194896

8.125

24984

202994

185425

1620941

82092

11.25

94.00

106.00

43.75

78153

39076

3419219

As of June 30, 2026, the Company had outstanding warrants for shares of common stock as follows: SCHEDULE OF OUTSTANDING STOCK PURCHASE WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Shares of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Latest</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expiration Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; text-align: left">October 2022 Placement Agent Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_zcXMUUogniI" style="width: 14%; text-align: right" title="Shares of Common Stock">1,818</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_z8Fxe69oIi37" style="width: 14%; text-align: right" title="Exercise Price per Share">10.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 20%; text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyTwoPlacementAgentWarrantsMember_zTDf8jwAiNo" title="Latest Termination Date">October 31, 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">October 2023 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_zs1bjxEdxd4a" style="text-align: right" title="Shares of Common Stock">2,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_zAyaHKyZCVIa" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--OctoberTwoThousandTwentyThreePlacementAgentWarrantsMember_z8OGMMOaCoi4" title="Latest Termination Date">October 20, 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">January 2024 Private Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_z8zjXUWOHDK9" style="text-align: right" title="Shares of Common Stock">36,630</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_zP3nFhCnG6gc" style="text-align: right" title="Exercise Price per Share">273.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPrivateWarrantsMember_zJLKeB4JvI09" title="Latest Termination Date">February 1, 2028</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">January 2024 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_zUTs3JuFseT6" style="text-align: right" title="Shares of Common Stock">1,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_zp5ctes43l32" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JanuaryTwoThousandTwentyFourPlacementAgentWarrantsMember_znN0pPjnahFa" title="Latest Termination Date">February 1, 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">June 2024 Series B Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_zgqeiuen6hK8" style="text-align: right" title="Shares of Common Stock">37,712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_zJ4jCsUKHUJi" style="text-align: right" title="Exercise Price per Share">94.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFourSeriesBWarrantsMember_fKg_____z465dV3Vj4I7" title="Latest Termination Date">July 25, 2030 *</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">December 2024 Series C Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_z9pJMmMK1DUh" style="text-align: right" title="Shares of Common Stock">78,153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_zYjjOk2Fkk6j" style="text-align: right" title="Exercise Price per Share">43.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesCWarrantsMember_zXm1Smlp6SOi" title="Latest Termination Date">December 17, 2029</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">December 2024 Series D Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_za0iNaz4MPK3" style="text-align: right" title="Shares of Common Stock">39,076</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_zEBo5zNxwLwa" style="text-align: right" title="Exercise Price per Share">43.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--DecemberTwoThousandTwentyFourSeriesDWarrantsMember_zmDjasUWIiJg" title="Latest Termination Date">July 25, 2030</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">February 2025 Series E Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zVQNKE8zM1c2" style="text-align: right" title="Shares of Common Stock">93,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zm6rPCxJ1f31" style="text-align: right" title="Exercise Price per Share">50.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--FebruaryTwoThousandTwentyFiveSeriesEWarrantsMember_zFVY7zSpLovb" title="Latest Termination Date">August 12, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">May 2025 Series F Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zhwnAqfjBiPg" style="text-align: right" title="Shares of Common Stock">129,613</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zBdqXyU5SZIa" style="text-align: right" title="Exercise Price per Share">15.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesFWarrantsMember_zW4Lp9dsdTNg" title="Latest Termination Date">May 8, 2030</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">May 2025 Series G Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zVsQ3JhYmve3" style="text-align: right" title="Shares of Common Stock">64,387</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zCxnRZlJWq12" style="text-align: right" title="Exercise Price per Share">7.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesGWarrantsMember_zGanv02WbA85" title="Latest Termination Date">May 8, 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">May 2025 Series H Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zYGPLC7m1aMe" style="text-align: right" title="Shares of Common Stock">50,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zWpD9QrfFUqb" style="text-align: right" title="Exercise Price per Share">11.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_fKio___z2NoaiiKXGj" style="display: none" title="Latest Termination Date">-**</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">June 2025 Series I Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zj4IaXS0iVYh" style="text-align: right" title="Shares of Common Stock">123,636</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zXDDda3zV9y5" style="text-align: right" title="Exercise Price per Share">5.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--JuneTwoThousandTwentyFiveSeriesIWarrantsMember_zQyBiWnMSdt8" title="Latest Termination Date">July 25, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 Pre-funded Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePreFundedWarrantsMember_zvckcfDn73m4" style="text-align: right" title="Shares of Common Stock">2,136,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePreFundedWarrantsMember_zMYbf3l3lv55" style="text-align: right" title="Exercise Price per Share">0.0001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">November 2025 Series J Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_zXjy5G0Zws6a" style="text-align: right" title="Shares of Common Stock">2,765,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_zQJYTwQzgA9f" style="text-align: right" title="Exercise Price per Share">6.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_fKioq_z8lD3l3auRgc" style="display: none" title="Latest Termination Date">-***</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 Series K Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_ziBwhEP49tog" style="text-align: right" title="Shares of Common Stock">2,770,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zsHR909WVJzi" style="text-align: right" title="Exercise Price per Share">8.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_fKioqKg_____zyTVGvQqLOp5" style="display: none" title="Latest Termination Date">-****</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">November 2025 Placement Agent Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_z6F7Fnxr27he" style="text-align: right" title="Shares of Common Stock">55,907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_z61QlMWBanO4" style="text-align: right" title="Exercise Price per Share">8.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFivePlacementAgentWarrantsMember_zUubx3yMi2Ff" title="Latest Termination Date">November 12, 2030</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">November 2025 HCW Settlement Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zycDvk8Q6HZ3" style="text-align: right" title="Shares of Common Stock">10,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zw6bZVLch4oi" style="text-align: right" title="Exercise Price per Share">10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveHCWSettlementWarrantsMember_zqmHM3NIsspk" title="Latest Termination Date">January 12, 2028</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_dd_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--StockWarrantsMember_zsWqJZJ8cLv5" title="Number of warrants">5,228 warrants expire <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_908_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20250701__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--StockWarrantsMember_zqdYrNZV8tEk" title="Warrants expire date">June 24, 2029</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">**</td><td style="width: 5pt"></td><td style="text-align: justify">Expire <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20260630__us-gaap--PlanNameAxis__custom--MayTwoThousandTwentyFiveSeriesHWarrantsMember_zr3Dv3LGPqVb" title="Warrants expire term">24 months following the initial exercise date</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">***</td><td style="width: 5pt"></td><td style="text-align: justify">Expires the earlier of (i) the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesJWarrantsMember_z35XsUFSo6hh" title="Warrants expire term">18-month anniversary of the Initial Exercise Date if FDA IND acceptance has not been received, or (ii) 31 days after notice of FDA IND acceptance, in each case adjusted to the next Trading Day; provided that under clause (ii) the date is extended until a registration statement and prospectus are available for 30 consecutive days.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">****</td><td style="width: 5pt"></td><td style="text-align: justify">Expire on the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIFBVUkNIQVNFIFdBUlJBTlRTIChEZXRhaWxzKSAoUGFyYW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20260630__us-gaap--PlanNameAxis__custom--NovemberTwoThousandTwentyFiveSeriesKWarrantsMember_zOyVErqRix1a" title="Warrants expire term">5-year anniversary of the Initial Exercise Date, or, if the Holder’s Series J Common Stock Purchase Warrant terminates pursuant to clause (ii) thereof prior to full cash exercise, the same Termination Date as the Series J Warrant, in each case adjusted to the next Trading Day; provided that the date is extended until a registration statement and prospectus are available for 30 consecutive days following notice of FDA IND acceptance.</td> </tr></table>

1818

10.00

2027-10-31

2358

10.00

2028-10-20

36630

273.00

2028-02-01

1831

10.00

2028-02-01

37712

94.00

2030-07-25

78153

43.75

2029-12-17

39076

43.75

2030-07-25

93760

50.00

2030-08-12

129613

15.00

2030-05-08

64387

7.50

2027-05-08

50593

11.25

123636

5.50

2030-07-25

2136000

0.0001

2765400

6.50

2770400

8.13

55907

8.13

2030-11-12

10000

10.00

2028-01-12

5228

2029-06-24

P24M

P18M

P5Y

146000 973

The following table summarizes option activity and related information for the years ended June 30, 2026, and 2025: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Outstanding - June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240701__20250630_zcrIvgcvC012" style="width: 12%; text-align: right" title="Number of options outstanding, beginning balance">45,269</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240701__20250630_zIwzNa1pa2q3" style="width: 12%; text-align: right" title="Weighted average exercise price, beginning balance">305.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230701__20240630_zR7F5dPgFvij" title="Weighted average remaining term in years, options outstanding">8.2</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240701__20250630_zap9HFyobsk4" style="text-align: right" title="Number of options, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240701__20250630_zjDTIKJiSv9h" style="text-align: right" title="Weighted average exercise price, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240701__20250630_zsKExJsQp9Ml" style="text-align: right" title="Number of options, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20240701__20250630_zhcJmIXESAM4" style="text-align: right" title="Weighted average exercise price, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20240701__20250630_zrCQbM9K6Pb1" style="text-align: right" title="Number of options, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20240701__20250630_zTNIKegh2Jbe" style="text-align: right" title="Weighted average exercise price, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20240701__20250630_ztC67mxT0YUi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired">(464</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240701__20250630_zTvzjy35yJB" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">654.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outstanding - June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250701__20260630_ztyCSZEtROK4" style="text-align: right" title="Number of options outstanding, beginning balance">44,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250701__20260630_zzXf1D4NZSzj" style="text-align: right" title="Weighted average exercise price, beginning balance">302.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240701__20250630_zev6RxysFEL4" title="Weighted average remaining term in years, options outstanding">7.3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250701__20260630_zSFq4DeZPq05" style="text-align: right" title="Number of options, granted">46,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250701__20260630_z0jhu3MJMAv7" style="text-align: right" title="Weighted average exercise price, granted">21.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fractional shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFractionalShares_iN_di_c20250701__20260630_z1MVb9DqhVt3" style="text-align: right" title="Number of options, fractional shares">(14</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250701__20260630_z79rBil4KxOg" style="text-align: right" title="Number of options, forfeited">(1,266</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250701__20260630_z01xGTR0zxua" style="text-align: right" title="Weighted average exercise price, forfeited">76.33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20250701__20260630_zBhP8YN8ffKe" style="text-align: right" title="Number of options, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250701__20260630_z0PsTlkXjzXa" style="text-align: right" title="Weighted average exercise price, exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250701__20260630_z9b3RNk7oNrf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired">(5,094</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250701__20260630_zpnpmEHNygYa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">484.55</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding - June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250701__20260630_zMUM8jiNE4Gj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, ending balance">84,981</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250701__20260630_z17qWjx4EhWi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending balance">145.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250701__20260630_zC6DofdHvxR" title="Weighted average remaining term in years, options outstanding">7.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20260630_zfUFhsQPuouj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options outstanding">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260630_z4F6jVH3Ano3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options. exercisable">27,625</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260630_zvr9PVDLLnpl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">369.59</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260630_znFIJvJfUGwf" title="Weighted average remaining term in years, options exercisable">5.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20250701__20260630_z5YF8uVYKdm3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Expected to vest at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_c20260630_zdQpOswYc3m9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options. expected to vest">57,356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_c20260630_zmXsniBY3zZi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, expected to vest">35.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250701__20260630_zmi1QAzJLTW2" title="Weighted average remaining term in years, options expected to vest">8.0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_c20260630_zl2o0pEEBm82" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, options expected to vest">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

45269

305.50

P8Y2M12D

464

654.50

44805

302.00

P7Y3M18D

46550

21.01

1266

76.33

5094

484.55

84981

145.21

P7Y3M18D

27625

369.59

P5Y9M18D

57356

35.95

P8Y

16000

The time-based options vest ratably over four years.

The performance-based options vest over four years

48000

5376

2750

1211

4777

5299

1743

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zsFshMEvLh47" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_zYszhLPD84x7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">3.9</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_z9J9MsE8G0Y9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Volatility factor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109.7</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_z1NWwBJXJZC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average grant date fair value</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16.45</td><td style="text-align: left"> </td></tr> </table>

0.039

1.097

P5Y10M24D

16.45

579389

702789

881056

P1Y10M24D

<p id="xdx_897_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zlF8EX5Tf0tg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"> SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding at beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJBjlmdDbcll" style="width: 16%; text-align: right" title="Number of RSU, outstanding, beginning balance">22,787</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zccDEAivWi8g" style="width: 16%; text-align: right" title="Number of RSU, outstanding, beginning balance">27,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfsUQWdVUTz1" style="text-align: right" title="Number of RSU, granted">24,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zUiF15hbRVV6" style="text-align: right" title="Number of RSU, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8asS6qHC0qa" style="text-align: right" title="Number of RSU, forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zi0QeuBMNbxh" style="text-align: right" title="Number of RSU, forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEpHEUqf5w84" style="text-align: right" title="Number of RSU, vested">(6,467</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zCuCo9SqCCQk" style="text-align: right" title="Number of RSU, vested">(4,659</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Expirations</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpirations_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmt7OP1SgVDk" style="text-align: right" title="Number of RSU, expirations">(1,453</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpirations_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNWB13k8fjub" style="text-align: right" title="Number of RSU, expirations">(54</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Fractional shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsFractionalShares_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwNnVZLyyoV4" style="border-bottom: Black 1pt solid; text-align: right" title="Number of RSU, fractional shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsFractionalShares_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwVEQJQPnq3a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of RSU, fractional shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding at end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250701__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zE4BwqceBK7k" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of RSU, outstanding, ending balance">39,817</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240701__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7jPlNCplHcd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of RSU, outstanding, ending balance">22,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

22787

27500

24950

6467

4659

-1453 -54

39817

22787

749698

679492

13000

The time-based RSUs vest ratably over four years

The performance-based RSUs vest over four years

39000

7844

Time-based RSUs granted to the Company’s executive officers, other employees, and non-employee directors generally vest over 48 months, 48 months, and 12 months, respectively.

3457

2079

814

3049

3689

1432

1533 1094 19513 99482

(15) INCOME TAXES For fiscal 2026 and 2025, the Company recorded no income tax expense as a result of the generation of operating losses that were subject to a full valuation allowance. Deferred tax assets and liabilities are determined based on the estimated future tax effect of differences between the financial statement and tax reporting basis of assets and liabilities, as well as for NOL carryforwards and R&D credit carryforwards, given the provisions of existing tax laws. As of June 30, 2026, the Company had state NOL carryforwards of approximately $210,000,000, which will expire, if not utilized, between 2037 and 2047, federal NOL carryforwards of approximately $160,000,000 and federal R&D credits of approximately $10,400,000 which expire, if not utilized, between 2037 and 2047, and foreign tax credits of $582,500, which expire, if not utilized, in 2028. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the application of loss limitation provisions related to ownership changes. The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. The Company also considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax-planning strategies in making this assessment. Based on a history of losses incurred, the Company has recognized a full valuation allowance against its deferred tax assets during the years ended June 30, 2026, and 2025. The Company’s valuation allowance increased by $1,966,000 and $7,591,000 for the years ended June 30, 2026, and 2025, respectively. A sustained period of profitability in the Company’s operations is required before it would change its judgment regarding the need for a full valuation allowance against its net deferred tax assets. Until such time, the use of NOL carryforwards and tax credits to offset profits, if any, will reduce the overall level of deferred tax assets subject to valuation allowance. The Tax Reform Act of 1986 (the “Tax Reform Act”) provides for limitation on the use of the Company’s NOL and R&D tax credit carryforwards following certain ownership changes (as defined by the Tax Reform Act) that could limit the Company’s ability to utilize these carryforwards. Since its inception, the Company has completed several financings and sales of common stock which has resulted in multiple ownership changes defined by Section 382 of the Tax Reform Act. Accordingly, the Company’s ability to utilize the aforementioned carryforwards is subject to limitation under Section 382. If the Company undergoes a future ownership change or as it completes its Section 382 limitation assessments, any unutilized carryforwards that were not previously subject to a Section 382 limitation may become subject to limitation which may result in a significant limitation and loss of NOL carryforwards and R&D credits. On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act of 2025 (“OBBBA”) which includes, among other provisions, changes to the U.S. corporate income tax system. Key corporate tax provisions include the restoration of 100% bonus depreciation, immediate expensing for domestic research and experimental expenditures, changes to Section 163(j) interest limitations, updates to GILTI and FDII rules, amendments to energy credits, and expanded Section 162(m) aggregation requirements. In accordance with ASC 740, the Company recognized the effects of the new tax law in the period that includes the enactment date. While OBBBA did not have a material impact on the Company’s consolidated financial statements as of and for year ended June 30, 2026, the Company will continue to assess the changes Additionally, U.S. tax laws limit the time during which these carryforwards may be applied against future taxes; therefore, the Company may not be able to take full advantage of these carryforwards for federal income tax purposes. Accordingly, a portion of the carryforwards may expire unutilized. PALATIN TECHNOLOGIES, INC. and Subsidiary Notes to Consolidated Financial Statements Loss before provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zHoezrHilvNk" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240701__20250630_zuPUO22YTIH4" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230701__20240630_zAedzTWdPfvg" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zyIF9BR6x2C5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(8,377,895</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(17,307,349</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(29,736,113</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--ForeignCountryMember_zkwGNF5E0Ci8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxExpenseBenefit_z2R3ChAft1c2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,377,895</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(17,307,349</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(29,736,113</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The Company’s net deferred tax assets are as follows: SCHEDULE OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260630_zQ9PRAUXQ88i" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250630_zIWjnSpkgLlc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzXIq_z8EifeVfrpWg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,539,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,054,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsIrcSection_iI_maDTAGzXIq_zLh8jv201a6b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IRC Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,604,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,158,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzXIq_zTKUn0CAXjX8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development and AMT tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,399,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,995,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzXIq_zzprG17Lo7ab" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,934,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,290,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsForeign_iI_maDTAGzXIq_zTO0PmtpmYr1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">583,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">583,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsBasisDifferencesInFixedAssetsAndOther_iI_maDTAGzXIq_zqnFWSvHmi7h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Basis differences in fixed assets and other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">207,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">220,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzXIq_maDTANzCEx_zDpMVRUpLj0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deferred tax assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,266,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,300,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzCEx_zn3OpSFs58oh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(72,266,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(70,300,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzCEx_zm56RpdiZra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zHyKIxSDE328" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maEFT001_zQqW1Pb6Li2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">U.S. federal statutory income tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maEFT001_zk7ZGNofaJdg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.62</td><td style="text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCredits_iN_pid_dpi_msEFT001_zwyXY0IcSZnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.82</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_pid_dp_maEFT001_zkOxeUSLNB06" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.08</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maEFT001_zcNiGAicrGXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in valuation allowances</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30.36</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_mtEFT001_zPsU7q5PfRl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effective income tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> </table> The Company recognizes interest expense and penalties on uncertain income tax positions as a component of interest expense. No interest expense or penalties were recorded for uncertain income tax matters in fiscal 2026 or 2025. As of June 30, 2026, and 2025, the Company had no liabilities for uncertain income tax matters.

210000000

160000000

10400000

582500

1966000 7591000

Loss before provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zHoezrHilvNk" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240701__20250630_zuPUO22YTIH4" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230701__20240630_zAedzTWdPfvg" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zyIF9BR6x2C5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(8,377,895</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(17,307,349</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(29,736,113</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--ForeignCountryMember_zkwGNF5E0Ci8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxExpenseBenefit_z2R3ChAft1c2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,377,895</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(17,307,349</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(29,736,113</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-8377895

-17307349

-29736113

-8377895

-17307349

-29736113

The Company’s net deferred tax assets are as follows: SCHEDULE OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.25in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260630_zQ9PRAUXQ88i" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250630_zIWjnSpkgLlc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzXIq_z8EifeVfrpWg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,539,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,054,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsIrcSection_iI_maDTAGzXIq_zLh8jv201a6b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IRC Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,604,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,158,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzXIq_zTKUn0CAXjX8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development and AMT tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,399,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,995,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzXIq_zzprG17Lo7ab" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,934,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,290,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsForeign_iI_maDTAGzXIq_zTO0PmtpmYr1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">583,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">583,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsBasisDifferencesInFixedAssetsAndOther_iI_maDTAGzXIq_zqnFWSvHmi7h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Basis differences in fixed assets and other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">207,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">220,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzXIq_maDTANzCEx_zDpMVRUpLj0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deferred tax assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,266,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,300,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzCEx_zn3OpSFs58oh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(72,266,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(70,300,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANzCEx_zm56RpdiZra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

48539000

46054000

10604000 11158000

10399000

9995000

1934000

2290000

583000

207000 220000

72266000

70300000

72266000

70300000

A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zHyKIxSDE328" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maEFT001_zQqW1Pb6Li2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">U.S. federal statutory income tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maEFT001_zk7ZGNofaJdg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.62</td><td style="text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCredits_iN_pid_dpi_msEFT001_zwyXY0IcSZnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.82</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_pid_dp_maEFT001_zkOxeUSLNB06" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.08</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maEFT001_zcNiGAicrGXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in valuation allowances</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30.36</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_mtEFT001_zPsU7q5PfRl1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effective income tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> </table>

0.2100

0.0562

-0.0482

-0.0108

-0.3036

0.0000

false false false false true 185 Contains depreciation and amortization. Depreciation was $62,679 and $258,917 for the years ended June 30 2026 and 2025, respectively Other segment items include investment income, interest expense and foreign currency (gain) loss, which are disclosed in the consolidated financial statements. 5,228 warrants expire June 24, 2029 Expire 24 months following the initial exercise date Expires the earlier of (i) the 18-month anniversary of the Initial Exercise Date if FDA IND acceptance has not been received, or (ii) 31 days after notice of FDA IND acceptance, in each case adjusted to the next Trading Day; provided that under clause (ii) the date is extended until a registration statement and prospectus are available for 30 consecutive days. Expire on the 5-year anniversary of the Initial Exercise Date, or, if the Holder’s Series J Common Stock Purchase Warrant terminates pursuant to clause (ii) thereof prior to full cash exercise, the same Termination Date as the Series J Warrant, in each case adjusted to the next Trading Day; provided that the date is extended until a registration statement and prospectus are available for 30 consecutive days following notice of FDA IND acceptance.