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<TITLE>Palatin Technologies, Inc. Form S-8
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>UNITED STATES<BR>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D.C. &nbsp;20549</B> </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>FORM S-8</B> </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933</B> </FONT></P>

<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>PALATIN TECHNOLOGIES, INC.</B><BR> </FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>

<BR>

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     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Delaware</B> </FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>95-4078884</B> </FONT></TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or other jurisdiction of incorporation or
     organization) </FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer Identification No.) </FONT></TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>4C Cedar Brook Drive<BR>Cranbury, New
     Jersey</B> </FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>08512</B> </FONT></TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address of Principal Executive Offices)
     </FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip Code) </FONT></TD>
  </TR>
  <TR VALIGN=TOP>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
     <TD WIDTH=50% ALIGN=CENTER>&nbsp;</TD>
  </TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=5><B>Palatin Technologies, Inc. 2005 Stock Plan</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Full title of the plan) </FONT></P>

<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Stephen T. Wills, Chief Financial Officer<BR>
4C Cedar Brook Drive<BR>Cranbury, New Jersey&nbsp;&nbsp;08512</B><BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Name and address of agent for service) </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>(609) 495-2200</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Telephone number, including area code, of agent for service) </FONT></P>

<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Please send copies of all communications to:<BR>
Brian F. Lanter, Attorney at Law, P.C.<BR>
117 Bryn Mawr Dr. SE, Suite 104<BR>
Albuquerque, NM 87106<BR>
(505) 314-1265 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting
company&#148; in Rule 12b-2 of the Exchange Act. (Check one): </FONT></P>

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     <TD WIDTH=10%></TD>
     <TD WIDTH=40%></TD>
     <TD WIDTH=10%></TD>
     <TD WIDTH=40%></TD> </TR>
<TR>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Large accelerated filer</FONT>
        &nbsp;&nbsp;<FONT face=wingdings SIZE=3>o</FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Accelerated filer</FONT>
        &nbsp;&nbsp;<FONT face=wingdings SIZE=3>o</FONT></TD></TR>
<TR>
     <TD COLSPAN=4>&nbsp;</TD></TR>
<TR>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Non-accelerated filer</FONT>
        &nbsp;&nbsp;<FONT face=wingdings SIZE=3>o</FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Smaller reporting company</FONT>
        &nbsp;&nbsp;<FONT face=wingdings SIZE=3>&#254;</FONT></TD></TR>
<TR>
     <TD>&nbsp;</TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(Do not check if a smaller reporting company) </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD> </TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Calculation of Registration Fee</B></FONT></P>

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<TR VALIGN=MIDDLE>
     <TD WIDTH=20%></TD>
     <TD WIDTH=20%></TD>
     <TD WIDTH=20%></TD>
     <TD WIDTH=20%></TD>
     <TD WIDTH=20%></TD></TR>
<TR>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Title of securities<BR>to be
        registered </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Amount to be<BR>registered (4)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Proposed maximum<BR>offering price<BR>per share </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Proposed maximum<BR>aggregate offering<BR>price
        </FONT></TD>
     <TD ALIGN=CENTER WIDTH=16%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Amount of<BR>registration fee</FONT></TD></TR>
<TR>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Common Stock, par value $.01 per share (1)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>600,190</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$0.24</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$144,045.60</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$8.04</FONT></TD></TR>
<TR>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Common Stock, par value $.01 per share (2)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>6,250</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$0.27</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$1,687.50</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$0.10</FONT></TD></TR>
<TR>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Common Stock, par value $.01 per share (3)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4,393,560</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$0.305</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$1,340,035.80</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>$74.77</FONT></TD></TR>
</TABLE>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>NOTES TO FEE TABLE: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(1)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Shares
of common stock underlying outstanding options with an exercise price of $0.24 per share. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(2)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Shares
of common stock underlying outstanding options with an exercise price of $0.27 per share. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(3)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Shares
of common stock available for future grants under the 2005 Stock Plan. The proposed
maximum offering price per share was calculated pursuant to Rules 457(h) and 457(c) under
the Securities Act of 1933, based on the average of the high and low prices of the
registrant&#146;s common stock reported on NYSE Amex on November 13, 2009.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(4)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>The
maximum number of shares which may be issued under the 2005 Stock Plan is subject to
adjustment in accordance with certain anti-dilution and other provisions of the 2005
Stock Plan. Accordingly, pursuant to Rule 416 under the Securities Act of 1933, this
registration statement covers, in addition to the number of shares stated above, an
indeterminate number of shares which may be subject to grant or otherwise issuable after
the operation of any such anti-dilution and other provision. </FONT></TD>
</TR>
</TABLE>
<BR>


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<HR SIZE=5 COLOR=GRAY NOSHADE><DIV style="PAGE-BREAK-AFTER: always">&nbsp;</DIV>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A NAME="TOC"><B>TABLE OF
CONTENTS</B></A> </FONT></P>

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     <TD WIDTH=5%></TD>
     <TD WIDTH=85%></TD>
     <TD WIDTH=10%></TD>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>Page</U></FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Explanatory">Explanatory Note</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>1</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#PartI">Part I. Information Required in the
        Section 10(a) Prospectus</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>1</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#PartII">Part II. Information Required in the
        Registration Statement</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-1</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Incorporation">Item 3. Incorporation of
        Documents by Reference</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-1</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Description">Item 4. Description of
        Securities</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-2</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Interests">Item 5. Interests of Named
        Experts and Counsel</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-2</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Indemnification">Item 6. Indemnification of
        Directors and Officers</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-2</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Exemption">Item 7. Exemption from Registration
        Claimed</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-3</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Exhibits">Item 8. Exhibits</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-3</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Undertakings">Item 9. Undertakings</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-4</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Signatures">Signatures</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-5</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#Index">Exhibit Index</A> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;</FONT></TD></TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>

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<A NAME="Explanatory"></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Explanatory Note</B> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Registration Statement on Form S-8 hereby registers 5,000,000 additional shares of
Common Stock for issuance under the 2005 Stock Plan. Up to 5,000,000 shares of Common
Stock to be issued under the 2005 Stock Plan were previously registered on Form S-8 on
February 7, 2008 (File No. 333-149093) and an additional 5,000,000 shares of Common Stock
to be issued under the 2005 Stock Plan were previously registered on Form S-8 on October
6, 2005 (File No. 333-128854). </FONT></P>

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<A NAME="PartI"></A>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Part I</B> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>INFORMATION REQUIRED IN
THE SECTION 10(A) PROSPECTUS</B> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
information required by Part I is included in documents sent or given to participants in the 2005
Stock Plan pursuant to Rule 428(b)(1) under the Securities Act of 1933 and has
been omitted herein in accordance with the instructional Note to Part I of Form S-8
as promulgated by the Securities and Exchange Commission. </FONT></P>

<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>1 </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>


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<A NAME="PartII"></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>PART II.</B> </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT</B> </FONT></P>
<BR>

<A NAME="Incorporation"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 3. &nbsp;Incorporation of Documents by Reference</B>. The following
documents are incorporated by reference in this registration statement: </FONT></P>

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<TR VALIGN=TOP>
     <TD WIDTH=3%></TD>
     <TD WIDTH=3%></TD>
     <TD WIDTH=94%></TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>annual report on Form 10-K for the year ended June 30, 2009, filed on
        September 28, 2009 </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>quarterly report on Form 10-Q for the quarter ended September 30, 2009,
        filed on November 13, 2009 </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>current report on Form 8-K dated August 12, 2009, filed on
        August 13, 2009 </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>current report on Form 8-K dated August 18, 2009, filed on
        August 21, 2009 </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>current report on Form 8-K dated September 24, 2009, filed on
        September 29, 2009 </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&#149; </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>the description of our common stock contained in our registration
        statement on Form 8-A filed on December 13, 1999 </FONT></TD></TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>All documents subsequently filed by
the registrant pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities
Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates
that all shares of common stock offered hereby have been sold or which deregisters all
shares of common stock then remaining unsold, shall be deemed to be incorporated by
reference in this registration statement and to be part thereof from the date of filing
of such documents.  </FONT></P>
<BR>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-1</FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>



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<A NAME="Description"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 4. Description of
Securities</B>. </FONT></P>

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<A NAME=A013></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

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<A NAME="Interests"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 5. Interests of Named Experts
and Counsel</B>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brian
F. Lanter, Attorney at Law, P.C., Albuquerque, New Mexico, counsel to the registrant, has
given his opinion on certain legal matters relating to the issuance of shares of common
stock registered on this registration statement. Mr. Lanter holds 295 shares of our
common stock. We have granted Mr. Lanter an option under our 1996 Stock Option Plan to
purchase 10,000 shares of common stock at $4.00 per share, with an expiration date of
February 6, 2011.  </FONT></P>

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<A NAME="Indemnification"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 6. Indemnification of
Directors and Officers</B>. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
145 of the Delaware General Corporation Law provides that a corporation may indemnify any
person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative by reason of the fact that he is or was a director, officer, employee or
agent of the corporation, or serving at the request of the corporation in similar
capacities, against expenses (including attorneys&#146; fees), judgments, fines, and
amounts paid in settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to believe his
conduct was unlawful. In the case of an action or suit by or in the right of the
corporation, no indemnification shall be made with respect to any claim, issue or matter
as to which such person shall have been adjudged to be liable to the corporation unless
and only to the extent that the court having jurisdiction shall determine that such person
is fairly and reasonably entitled to indemnity. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
V, Section 3 of the registrant&#146;s Certificate of Incorporation provides that to the
fullest extent permitted by the Delaware General Corporation Law, no director of the
registrant shall be personally liable to the registrant or its stockholders for monetary
damages for breach of a fiduciary duty as a director. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
VI of the registrant&#146;s Certificate of Incorporation provides that the registrant
shall make the indemnification permitted under Section 145 of the Delaware General
Corporation Law, as summarized above, but only (unless ordered by a court) upon a
determination by a majority of a quorum of disinterested directors, by independent legal
counsel in a written opinion, or by the stockholders, that the indemnified person has met
the applicable standard of conduct. Article VI further provides that the registrant may
advance expenses for defending actions, suits or proceedings upon such terms and
conditions as the registrant&#146;s Board of Directors deems appropriate, and that the
registrant may purchase insurance on behalf of indemnified persons whether or not the
registrant would have the power to indemnify such persons under Section 145 of the Delaware
General Corporation Law. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant&#146;s Bylaws contain substantially the same indemnification provisions as the
registrant&#146;s Certificate of Incorporation, summarized above. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant has obtained a directors&#146; and officers&#146; liability insurance policy
which covers, among other things, certain liabilities arising under the Securities Act of 1933. </FONT></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-2</FONT></P>
<HR SIZE=5 COLOR=GRAY NOSHADE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>



<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<A NAME="Exemption"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 7. Exemption from
Registration Claimed</B>. </FONT></P>

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<A NAME=A016></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

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<A NAME="Exhibits"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 8. Exhibits</B>. The
following exhibits are filed with this registration statement, or incorporated by
reference as noted: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
     <TD WIDTH=8%></TD>
     <TD WIDTH=92%></TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>No.</U> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>Description</U> </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Restated Certificate of Incorporation, as amended. Incorporated by
     reference to Exhibit 3.01 of our report on Form 10-K for the year ended year ended June 30, 2009, filed with the SEC on
     September 28, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.2 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Bylaws. Incorporated by reference to Exhibit 3.1 of our Quarterly
        Report on Form 10-Q for the quarter ended December 31, 2007, filed with the SEC on February 8, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.3 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>2005 Stock Plan, as amended, effective December 7, 2007, March 10,
        2009 and May 13, 2009. Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the
        quarter ended December 31, 2009, filed with the SEC on May 15, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.4 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of amended Option Certificate. Incorporated by reference
        to Exhibit 10.3 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with the
        SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.5 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of Executive Officer Option Certificate. Incorporated by
        reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.6 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of amended Restricted Stock Unit Agreement. Incorporated by
        reference to Exhibit 10.2 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.7 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of Executive Officer Restricted Stock Unit Agreement.
        Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended December 31,
        2008, filed with the SEC on February 13, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>5.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Opinion of Brian F. Lanter, Attorney at Law, P.C., counsel to the
     registrant, re legality.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>23.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Consent of Brian F. Lanter, Attorney at Law, P.C., included in Exhibit
     5.1.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>23.2 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Consent of KPMG LLP.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>24.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Power of attorney, included in the signature page of this registration
     statement.* </FONT></TD></TR>
</TABLE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR>
     <TD WIDTH=25% style="border-bottom: 1pt solid #000000">&nbsp;</TD>
     <TD WIDTH=75%>&nbsp;</TD></TR>
<TR>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3>*Filed with this registration
        statement. </FONT></TD></TR>
</TABLE>
<BR>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-3</FONT></P>
<HR SIZE=5 COLOR=GRAY NOSHADE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>



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<A NAME="Undertakings"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Item 9. Undertakings.</B> </FONT> </P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>The undersigned registrant hereby
undertakes: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(1)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>To
file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Level 1" FSL="Default" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(i)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>To
include any prospectus required by section 10(a)(3) of the Securities Act of 1933;  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(ii)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed
with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table
in the effective registration statement.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(iii)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>To
include any material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such information in the
registration statement;  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<I>Provided,
however,</I> that:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
(A)&nbsp;&nbsp;&nbsp;&nbsp;Paragraphs
(a)(1)(i) and (a)(1)(ii) of this section do not apply if the the information required to
be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Securities and Exchange Commission by the registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement; and  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(2)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>That,
for the purpose of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(3)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>To
remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>The undersigned registrant hereby
undertakes that, for purposes of determining any liability under the Securities Act of
1933, each filing of the registrant&#146;s annual report pursuant to section 13(a) or
section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing
of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted to directors,
officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the
Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of
expenses incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such issue.  </FONT></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-4</FONT></P>
<HR SIZE=5 COLOR=GRAY NOSHADE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>


<!-- MARKER FORMAT-SHEET="Head Minor Center" FSL="Default" -->
<A NAME="Signatures"></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>SIGNATURES</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Cranbury, State of New Jersey, on November 17, 2009. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>PALATIN TECHNOLOGIES, INC.</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
     <TD WIDTH=3%></TD>
     <TD WIDTH=97%></TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>By: </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3> <U>/s/ S<SMALL>TEPHEN</SMALL> T. W<SMALL>ILLS</SMALL>
        &nbsp;&nbsp;&nbsp;&nbsp;</U><BR>Stephen T. Wills<BR>Executive Vice President - Operations and Chief Financial Officer
        </FONT></TD></TR>
</TABLE>
<BR>
<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A NAME="Power"><B>POWER OF ATTORNEY</B></A>
</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We,
the undersigned officers and directors of Palatin Technologies, Inc., severally
constitute Carl Spana and Stephen T. Wills, and each of them singly, our true and lawful
attorneys with full power to them, and each of them singly, to sign for us and in our
names in the capacities indicated below, the registration statement on Form S-8 filed
herewith and any and all subsequent amendments to said registration statement, and
generally to do all such things in our names and behalf in our capacities as officers and
directors to enable Palatin Technologies, Inc. to comply with all requirements of the
Securities and Exchange Commission.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been
signed by the following persons in the capacities and on the date indicated.  </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=BOTTOM>
     <TD WIDTH=32%></TD>
     <TD WIDTH=4%></TD>
     <TD WIDTH=44%></TD>
     <TD WIDTH=20%></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Signature</B> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Title</B> </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Date</B> </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ C<SMALL>ARL</SMALL>
        S<SMALL>PANA</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>President, Chief Executive Officer and Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Carl Spana </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(principal executive officer) </FONT></TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ S<SMALL>TEPHEN</SMALL> T.
        W<SMALL>ILLS</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Executive Vice President - Operations and
        </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Stephen T. Wills </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Chief Financial Officer </FONT></TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>(principal financial and accounting officer) </FONT></TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ J<SMALL>OHN</SMALL> K.A.
        P<SMALL>RENDERGAST</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Chairman and Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>John K.A. Prendergast </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ P<SMALL>ERRY</SMALL> B.
        M<SMALL>OLINOFF</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Perry B. Molinoff </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ R<SMALL>OBERT</SMALL> K.
        D<SMALL>E</SMALL>V<SMALL>EER</SMALL>, J<SMALL>R.</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Robert K. deVeer, Jr. </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ Z<SMALL>OLA</SMALL> P.
        H<SMALL>OROVITZ</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Zola P. Horovitz </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ R<SMALL>OBERT</SMALL> I.
        T<SMALL>ABER</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Robert I. Taber </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ E<SMALL>RROL</SMALL>
        D<SMALL>E</SMALL> S<SMALL>OUZA</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Errol De Souza </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
   <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=BOTTOM>
     <TD style="border-bottom: 1pt solid #000000"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>/s/ J. S<SMALL>TANLEY</SMALL>
        H<SMALL>ULL</SMALL> </FONT></TD>
     <TD>&nbsp;</TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Director </FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>November 17, 2009 </FONT></TD></TR>
<TR VALIGN=BOTTOM>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>J. Stanley Hull </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD></TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>II-5 </FONT></P>
<HR SIZE=5 COLOR=GRAY NOSHADE><DIV style="PAGE-BREAK-AFTER: always"></DIV>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><A HREF="#TOC"><U>Table of Contents</U></A></FONT></P>
<BR>

<A NAME="Index"></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>EXHIBIT INDEX</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
     <TD WIDTH=8%></TD>
     <TD WIDTH=92%></TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>No.</U> </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>Description</U> </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Restated Certificate of Incorporation, as amended. Incorporated by
     reference to Exhibit 3.01 of our report on Form 10-K for the year ended year ended June 30, 2009, filed with the SEC on
     September 28, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.2 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Bylaws. Incorporated by reference to Exhibit 3.1 of our Quarterly
        Report on Form 10-Q for the quarter ended December 31, 2007, filed with the SEC on February 8, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.3 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>2005 Stock Plan, as amended, effective December 7, 2007, March 10,
        2009 and May 13, 2009. Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the
        quarter ended December 31, 2009, filed with the SEC on May 15, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.4 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of amended Option Certificate. Incorporated by reference
        to Exhibit 10.3 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with the
        SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.5 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of Executive Officer Option Certificate. Incorporated by
        reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.6 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of amended Restricted Stock Unit Agreement. Incorporated by
        reference to Exhibit 10.2 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>4.7 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Form of Executive Officer Restricted Stock Unit Agreement.
        Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended December 31,
        2008, filed with the SEC on February 13, 2009. </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>5.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Opinion of Brian F. Lanter, Attorney at Law, P.C., counsel to the
     registrant, re legality.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>23.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Consent of Brian F. Lanter, Attorney at Law, P.C., included in Exhibit
     5.1.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>23.2 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Consent of KPMG LLP.* </FONT></TD></TR>
<TR VALIGN=TOP>
     <TD COLSPAN=2>&nbsp;</TD></TR>
<TR VALIGN=TOP>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>24.1 </FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Power of attorney, included in the signature page of this registration
     statement.* </FONT></TD></TR>
</TABLE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR>
     <TD WIDTH=25% style="border-bottom: 1pt solid #000000">&nbsp;</TD>
     <TD WIDTH=75%>&nbsp;</TD></TR>
<TR>
     <TD COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=3>*Filed with this registration
        statement. </FONT></TD></TR>
</TABLE>
<BR>

</BODY>
</HTML>
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Palatin Technologies, Inc. Form S-8
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.  20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933
PALATIN TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
95-4078884
(State or other jurisdiction of incorporation or
     organization)
(I.R.S. Employer Identification No.)
4C Cedar Brook Drive
Cranbury, New
     Jersey
08512
(Address of Principal Executive Offices)
(Zip Code)
Palatin Technologies, Inc. 2005 Stock Plan
(Full title of the plan)
Stephen T. Wills, Chief Financial Officer
4C Cedar Brook Drive
Cranbury, New Jersey  08512
(Name and address of agent for service)
(609) 495-2200
(Telephone number, including area code, of agent for service)
Please send copies of all communications to:
Brian F. Lanter, Attorney at Law, P.C.
117 Bryn Mawr Dr. SE, Suite 104
Albuquerque, NM 87106
(505) 314-1265
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting
company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
þ
(Do not check if a smaller reporting company)
Calculation of Registration Fee
Title of securities
to be
        registered
Amount to be
registered (4)
Proposed maximum
offering price
per share
Proposed maximum
aggregate offering
price
Amount of
registration fee
Common Stock, par value $.01 per share (1)
600,190
$0.24
$144,045.60
$8.04
Common Stock, par value $.01 per share (2)
6,250
$0.27
$1,687.50
$0.10
Common Stock, par value $.01 per share (3)
4,393,560
$0.305
$1,340,035.80
$74.77
NOTES TO FEE TABLE:
(1)
Shares
of common stock underlying outstanding options with an exercise price of $0.24 per share.
(2)
Shares
of common stock underlying outstanding options with an exercise price of $0.27 per share.
(3)
Shares
of common stock available for future grants under the 2005 Stock Plan. The proposed
maximum offering price per share was calculated pursuant to Rules 457(h) and 457(c) under
the Securities Act of 1933, based on the average of the high and low prices of the
registrant's common stock reported on NYSE Amex on November 13, 2009.
(4)
The
maximum number of shares which may be issued under the 2005 Stock Plan is subject to
adjustment in accordance with certain anti-dilution and other provisions of the 2005
Stock Plan. Accordingly, pursuant to Rule 416 under the Securities Act of 1933, this
registration statement covers, in addition to the number of shares stated above, an
indeterminate number of shares which may be subject to grant or otherwise issuable after
the operation of any such anti-dilution and other provision.
TABLE OF
CONTENTS
Page
Explanatory Note
1
Part I. Information Required in the
        Section 10(a) Prospectus
1
Part II. Information Required in the
        Registration Statement
II-1
Item 3. Incorporation of
        Documents by Reference
II-1
Item 4. Description of
        Securities
II-2
Item 5. Interests of Named
        Experts and Counsel
II-2
Item 6. Indemnification of
        Directors and Officers
II-2
Item 7. Exemption from Registration
        Claimed
II-3
Item 8. Exhibits
II-3
Item 9. Undertakings
II-4
Signatures
II-5
Exhibit Index
Table of Contents
Explanatory Note
This
Registration Statement on Form S-8 hereby registers 5,000,000 additional shares of
Common Stock for issuance under the 2005 Stock Plan. Up to 5,000,000 shares of Common
Stock to be issued under the 2005 Stock Plan were previously registered on Form S-8 on
February 7, 2008 (File No. 333-149093) and an additional 5,000,000 shares of Common Stock
to be issued under the 2005 Stock Plan were previously registered on Form S-8 on October
6, 2005 (File No. 333-128854).
Part I
INFORMATION REQUIRED IN
THE SECTION 10(A) PROSPECTUS
The
information required by Part I is included in documents sent or given to participants in the 2005
Stock Plan pursuant to Rule 428(b)(1) under the Securities Act of 1933 and has
been omitted herein in accordance with the instructional Note to Part I of Form S-8
as promulgated by the Securities and Exchange Commission.
1
Table of Contents
PART II.
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference
. The following
documents are incorporated by reference in this registration statement:
•
annual report on Form 10-K for the year ended June 30, 2009, filed on
        September 28, 2009
•
quarterly report on Form 10-Q for the quarter ended September 30, 2009,
        filed on November 13, 2009
•
current report on Form 8-K dated August 12, 2009, filed on
        August 13, 2009
•
current report on Form 8-K dated August 18, 2009, filed on
        August 21, 2009
•
current report on Form 8-K dated September 24, 2009, filed on
        September 29, 2009
•
the description of our common stock contained in our registration
        statement on Form 8-A filed on December 13, 1999
All documents subsequently filed by
the registrant pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities
Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates
that all shares of common stock offered hereby have been sold or which deregisters all
shares of common stock then remaining unsold, shall be deemed to be incorporated by
reference in this registration statement and to be part thereof from the date of filing
of such documents.
II-1
Table of Contents
Item 4. Description of
Securities
.
Not
applicable.
Item 5. Interests of Named Experts
and Counsel
.
Brian
F. Lanter, Attorney at Law, P.C., Albuquerque, New Mexico, counsel to the registrant, has
given his opinion on certain legal matters relating to the issuance of shares of common
stock registered on this registration statement. Mr. Lanter holds 295 shares of our
common stock. We have granted Mr. Lanter an option under our 1996 Stock Option Plan to
purchase 10,000 shares of common stock at $4.00 per share, with an expiration date of
February 6, 2011.
Item 6. Indemnification of
Directors and Officers
.
Section
145 of the Delaware General Corporation Law provides that a corporation may indemnify any
person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative by reason of the fact that he is or was a director, officer, employee or
agent of the corporation, or serving at the request of the corporation in similar
capacities, against expenses (including attorneys' fees), judgments, fines, and
amounts paid in settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to believe his
conduct was unlawful. In the case of an action or suit by or in the right of the
corporation, no indemnification shall be made with respect to any claim, issue or matter
as to which such person shall have been adjudged to be liable to the corporation unless
and only to the extent that the court having jurisdiction shall determine that such person
is fairly and reasonably entitled to indemnity.
Article
V, Section 3 of the registrant's Certificate of Incorporation provides that to the
fullest extent permitted by the Delaware General Corporation Law, no director of the
registrant shall be personally liable to the registrant or its stockholders for monetary
damages for breach of a fiduciary duty as a director.
Article
VI of the registrant's Certificate of Incorporation provides that the registrant
shall make the indemnification permitted under Section 145 of the Delaware General
Corporation Law, as summarized above, but only (unless ordered by a court) upon a
determination by a majority of a quorum of disinterested directors, by independent legal
counsel in a written opinion, or by the stockholders, that the indemnified person has met
the applicable standard of conduct. Article VI further provides that the registrant may
advance expenses for defending actions, suits or proceedings upon such terms and
conditions as the registrant's Board of Directors deems appropriate, and that the
registrant may purchase insurance on behalf of indemnified persons whether or not the
registrant would have the power to indemnify such persons under Section 145 of the Delaware
General Corporation Law.
The
registrant's Bylaws contain substantially the same indemnification provisions as the
registrant's Certificate of Incorporation, summarized above.
The
registrant has obtained a directors' and officers' liability insurance policy
which covers, among other things, certain liabilities arising under the Securities Act of 1933.
II-2
Table of Contents
Item 7. Exemption from
Registration Claimed
.
Not
applicable.
Item 8. Exhibits
. The
following exhibits are filed with this registration statement, or incorporated by
reference as noted:
No.
Description
4.1
Restated Certificate of Incorporation, as amended. Incorporated by
     reference to Exhibit 3.01 of our report on Form 10-K for the year ended year ended June 30, 2009, filed with the SEC on
     September 28, 2009.
4.2
Bylaws. Incorporated by reference to Exhibit 3.1 of our Quarterly
        Report on Form 10-Q for the quarter ended December 31, 2007, filed with the SEC on February 8, 2008.
4.3
2005 Stock Plan, as amended, effective December 7, 2007, March 10,
        2009 and May 13, 2009. Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the
        quarter ended December 31, 2009, filed with the SEC on May 15, 2009.
4.4
Form of amended Option Certificate. Incorporated by reference
        to Exhibit 10.3 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with the
        SEC on May 14, 2008.
4.5
Form of Executive Officer Option Certificate. Incorporated by
        reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008.
4.6
Form of amended Restricted Stock Unit Agreement. Incorporated by
        reference to Exhibit 10.2 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008.
4.7
Form of Executive Officer Restricted Stock Unit Agreement.
        Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended December 31,
        2008, filed with the SEC on February 13, 2009.
5.1
Opinion of Brian F. Lanter, Attorney at Law, P.C., counsel to the
     registrant, re legality.*
23.1
Consent of Brian F. Lanter, Attorney at Law, P.C., included in Exhibit
     5.1.*
23.2
Consent of KPMG LLP.*
24.1
Power of attorney, included in the signature page of this registration
     statement.*
*Filed with this registration
        statement.
II-3
Table of Contents
Item 9. Undertakings.
The undersigned registrant hereby
undertakes:
(1)
To
file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i)
To
include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii)
To
reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed
with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table
in the effective registration statement.
(iii)
To
include any material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such information in the
registration statement;
Provided,
however,
that:
(A)    Paragraphs
(a)(1)(i) and (a)(1)(ii) of this section do not apply if the the information required to
be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Securities and Exchange Commission by the registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement; and
(2)
That,
for the purpose of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(3)
To
remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
The undersigned registrant hereby
undertakes that, for purposes of determining any liability under the Securities Act of
1933, each filing of the registrant's annual report pursuant to section 13(a) or
section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted to directors,
officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the
Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of
expenses incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such issue.
II-4
Table of Contents
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Cranbury, State of New Jersey, on November 17, 2009.
PALATIN TECHNOLOGIES, INC.
By:
/s/ S
TEPHEN
T. W
ILLS
Stephen T. Wills
Executive Vice President - Operations and Chief Financial Officer
POWER OF ATTORNEY
We,
the undersigned officers and directors of Palatin Technologies, Inc., severally
constitute Carl Spana and Stephen T. Wills, and each of them singly, our true and lawful
attorneys with full power to them, and each of them singly, to sign for us and in our
names in the capacities indicated below, the registration statement on Form S-8 filed
herewith and any and all subsequent amendments to said registration statement, and
generally to do all such things in our names and behalf in our capacities as officers and
directors to enable Palatin Technologies, Inc. to comply with all requirements of the
Securities and Exchange Commission.
Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been
signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ C
ARL
S
PANA
President, Chief Executive Officer and Director
November 17, 2009
Carl Spana
(principal executive officer)
/s/ S
TEPHEN
T.
        W
ILLS
Executive Vice President - Operations and
November 17, 2009
Stephen T. Wills
Chief Financial Officer
(principal financial and accounting officer)
/s/ J
OHN
K.A.
        P
RENDERGAST
Chairman and Director
November 17, 2009
John K.A. Prendergast
/s/ P
ERRY
B.
        M
OLINOFF
Director
November 17, 2009
Perry B. Molinoff
/s/ R
OBERT
K.
        D
E
V
EER
, J
R.
Director
November 17, 2009
Robert K. deVeer, Jr.
/s/ Z
OLA
P.
        H
OROVITZ
Director
November 17, 2009
Zola P. Horovitz
/s/ R
OBERT
I.
        T
ABER
Director
November 17, 2009
Robert I. Taber
/s/ E
RROL
D
E
S
OUZA
Director
November 17, 2009
Errol De Souza
/s/ J. S
TANLEY
H
ULL
Director
November 17, 2009
J. Stanley Hull
II-5
Table of Contents
EXHIBIT INDEX
No.
Description
4.1
Restated Certificate of Incorporation, as amended. Incorporated by
     reference to Exhibit 3.01 of our report on Form 10-K for the year ended year ended June 30, 2009, filed with the SEC on
     September 28, 2009.
4.2
Bylaws. Incorporated by reference to Exhibit 3.1 of our Quarterly
        Report on Form 10-Q for the quarter ended December 31, 2007, filed with the SEC on February 8, 2008.
4.3
2005 Stock Plan, as amended, effective December 7, 2007, March 10,
        2009 and May 13, 2009. Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the
        quarter ended December 31, 2009, filed with the SEC on May 15, 2009.
4.4
Form of amended Option Certificate. Incorporated by reference
        to Exhibit 10.3 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with the
        SEC on May 14, 2008.
4.5
Form of Executive Officer Option Certificate. Incorporated by
        reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008.
4.6
Form of amended Restricted Stock Unit Agreement. Incorporated by
        reference to Exhibit 10.2 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed with
        the SEC on May 14, 2008.
4.7
Form of Executive Officer Restricted Stock Unit Agreement.
        Incorporated by reference to Exhibit 10.1 of our Quarterly Report on Form 10-Q for the quarter ended December 31,
        2008, filed with the SEC on February 13, 2009.
5.1
Opinion of Brian F. Lanter, Attorney at Law, P.C., counsel to the
     registrant, re legality.*
23.1
Consent of Brian F. Lanter, Attorney at Law, P.C., included in Exhibit
     5.1.*
23.2
Consent of KPMG LLP.*
24.1
Power of attorney, included in the signature page of this registration
     statement.*
*Filed with this registration
        statement.