Palatin Technologies (PTN) has successfully developed bremelanotide, a drug that deals with the problem of hypoactive sexual desire disorder (HSDD) in women. However, due to the recent FDA extension of its review date, Palatin stock price suffers from a huge decline. The new action date is expected on June 23 since the FDA requires some extra information. However, this is only a small additional phase 1 trial and should not cause any significant changes to the previous confirmed results. Compared to other Biotech businesses, Palatin's shares are currently traded at a reasonable price.