SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Palatin Technologies, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
696077 30 4
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(CUSIP Number)
July 14, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the propose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of the section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
CUSIP No. 696077 30 4 13G Page 2 of 5 Pages
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1. NAMES OF REPORTING PERSONS
EDWARD J. QUILTY
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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| 5. SOLE VOTING POWER
NUMBER OF |
| 515,089
SHARES |
|--------------------------------------------------------
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | None
|
|--------------------------------------------------------
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | 515,089
|
PERSON WITH |--------------------------------------------------------
| 8. SHARED DOSPOSITIVE POWER
|
| None
|
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
515,089
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT OF ROW 9
6.0%
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12. TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1 13G Page 3 of 5 Pages
1(a) Name of Issuer:
Palatin Technologies, Inc.
1(b) Address of Issuer's Principal Executive Offices:
103 Carnegie Center, Suite 200, Princeton, New Jersey 08540
Item 2
2(a) Name of Person Filing:
Edward J. Quilty
2(b) Address of Principal Business Office or, if None, Residence:
214 Carnegie Center, Suite 100, Princeton, NJ 08540
2(c) Citizenship:
Not Applicable
2(d) Title of Class of Securities:
This statement covers a total of 515,089 fully diluted shares of
common stock, $.01 par value per share (the "Common Stock"), of the
Issuer. The Reporting Person as of the date hereof holds (or is deemed
to hold) an aggregate of: ((i) 59,898 shares of Common Stock, and (ii)
options for the purchase of Common Stock (the "Options") which as of
the date hereof may be exercised to purchase all or a portion of
455,191 shares of Common Stock at a price per share of $7.50 relative
to 30,000 shares, $4.96 relative to 49,472 shares, $4.00 relative to
100,000 shares, $0.20 relative to 176,460 shares, and $3.125 relative
to 99,259 shares. The Common Stock and Options are referred to herein,
collectively, as the "Securities".
2(e) CUSIP Number:
696077 30 4
Item 3 If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
3(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C.
78o).
3(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
3(c) [ ] Insurance company as defined in Section 3(3)(19) of the Act (15 U.S.C.
78c).
3(d) [ ] Investment company registered under Section 8 of the Investment Company
Act of 1940 (15 U.S.C. 80a-8).
3(e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
3(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
3(g) [ ] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
3(h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813);
3(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
3(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
<PAGE>
13G Page 4 of 5 Pages
Item 4 Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item
1:
4(a) Amount beneficially owned:
515,089 shares
4(b) Percent of class:
6.0%
4(c ) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 515,089
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of: 515,089
(iv) Shared power to dispose or to direct the disposition of: None
Item 5 Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following
[ ].
Item 6 Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not Applicable
Item 8 Identification and Classification of Members of the Group.
Not Applicable
Item 9 Notice of Dissolution of Group.
Not Applicable
<PAGE>
13G Page 5 of 5 Pages
Item 10 Certification.
By signing below I certify that, to the best of my knowledge and
belief, the Securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of such Securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.
/s/ Edward J. Quilty
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By: Raymond C. Hedger, Jr.
Attorney-in-Fact
July 25, 2000
CONFIRMATION STATEMENT
I, Edward J. Quilty, hereby authorize and designate Hedger & Hedger, by
Raymond C. Hedger, Jr. or Samantha J. Prince, to file on my behalf with the
United States Securities and Exchange Commission any of the following documents
relative to my ownership, purchase or sale of the securities of Palatin
Technologies, Inc.: (1) Form 4 - Statement of Changes in Beneficial Ownership,
(2) Form 5 - Annual Statement of Changes in Beneficial Ownership, (3) Schedule
13D and (4) Schedule 13G.
Date: July 12, 2000 /s/ Edward J. Quilty
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Edward J. Quilty
