Thu. Jun 27th, 2019

The Tactical Trader

Trading ideas by a non richling. Not a peasant.

This morning I received a news alerts that Palatin Technology (PTN) received orphan status from the FDA on one of it’s drugs. “Orphan” status is a special status given by the FDA to allow a drug to be used treat a rare disease or condition. It’s also known as The Orphan Drug Act.

Not FDA Approved for Orphan Indication

According to the FDA’s website, Palatin Technologies did NOT get FDA Orphan status for the “Treatment of non-infectious intermediate, posterior, pan, and chronic anterior uveitis”.

So who is posting fake news?

The article in question was posted by “@theflynews” (a spammy looking) news syndication site that appears to exists only for advertising purposes. Street Insider also posted a headline making the same claims.

The link on that article goes to FDA.gov to a “page not found”. Searching the FDA and Google News I could not find anything to confirm this. This could be a false spike due to fake news. Happens everyday folks…..

This was posted by @Street_Insider.

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