UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported):   August 2, 2002

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

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

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

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

103 Carnegie Center, Suite 200
Princeton, NJ  08540
(Former name or former address, if changed since last report)

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Item 5. Other Events

           On August 2, 2002, we announced that we had received gross proceeds of $4.2 million in a private placement of stock and warrants. We are filing our press release concerning the private placement as an exhibit to this report.

Item 7.  Financial Statements and Exhibits.

(c)	Exhibits:

99   Press release dated August 2, 2002

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

		PALATIN TECHNOLOGIES, INC.
Date: August 8, 2002		By:  /s/ Stephen T. Wills                     Stephen T. Wills, CPA, MST       Executive Vice President and       Chief Financial Officer

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