8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                          June 23, 2005 (June 23, 2005)
                Date of Report (Date of earliest event reported)


                         COMPETITIVE TECHNOLOGIES, INC.
             (Exact name of registrant as specified in its charter)

         Delaware                      1-8696                     36-2664428
(State or other jurisdiction of      (Commission               (I.R.S. Employer
        incorporation)               File Number )           Identification No.)

                 1960 Bronson Road, Fairfield, Connecticut 06824
               (Address of principal executive offices) (Zip Code)

                                 (203) 255-6044
              (Registrant's telephone number, including area code)


                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)


         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))



Item 8.01 Other Events.

      On June 23, 2005, Competitive Technologies, Inc. ("CTT") announced that it
has received $1.7 million in cash from Palatin Technologies, Inc. ("PTN"). CTT
will also receive 170,000 shares of PTN stock. CTT's share of the payment will
be about $0.7 million and 68,000 shares of PTN stock. Pursuant to CTT's license
with PTN, CTT receives a portion of any funds received by PTN for this
technology. The funds were generated by PTN through their strategic alliance
with King Pharmaceuticals, Inc.


A copy of the press release is attached as Exhibit 99.1.


Item 9.01. Financial Statements and Exhibits

      (c) Exhibits.

Exhibit No.                Description
- -----------                -----------

Exhibit 99.1               Press release dated June 23, 2005.


                                   SIGNATURES

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


                                              COMPETITIVE TECHNOLOGIES, INC.

Date:    June 23, 2005                        By: /s/ Donald J. Freed
                                                  Name:    Donald J. Freed
                                                  Title:   President and
                                                  Chief Executive Officer



                                  EXHIBIT INDEX

Exhibit No.         Description
- -----------         -----------

Exhibit 99.1        Press release dated June 23, 2005 announcing that CTT
                    and clients receive a royalty payment from Palatin
                    Technologies, Inc.

EX-99.1

                                                                    Exhibit 99.1


                                                           For Immediate Release


                  COMPETITIVE TECHNOLOGIES AND CLIENTS RECEIVE
                        PAYMENT FROM PALATIN TECHNOLOGIES

Fairfield, CT - (June 23, 2005) - Competitive Technologies, Inc. (AMEX: CTT)
announced today that it has received from Palatin Technologies, Inc. (AMEX: PTN)
$1.7 million in cash, and expects to receive shortly 170,000 shares of Palatin
stock for CTT and its clients. CTT's share of the payment is about $0.7 million
and will be about 68,000 shares of PTN stock. PTN is the exclusive field-of-use
licensee for rights to the CTT-patented technology underlying the development of
PT-141. CTT's license with PTN provides for CTT and its clients to receive a
portion of sublicense fees received by PTN for this technology. The funds were
generated by PTN through their strategic alliance with King Pharmaceuticals,
Inc. (NYSE: KG) to jointly develop and commercialize PT-141 as a treatment for
sexual dysfunction.

PT-141, PTN's experimental treatment for male and female sexual dysfunction, is
a synthetic modification of PT-14, a peptide analogue of alpha-MSH
(alpha-melanocyte-stimulating hormone) invented by a team of researchers at
CTT's client, the University of Arizona. PT-141 is currently being evaluated in
Phase II clinical trials studying the efficacy and safety profile for use in men
and women.

"CTT is encouraged by PTN's continued progress, and King Pharmaceuticals
increased participation, on the path of effectively seeking regulatory approval
and marketing for this important technology," said Dr. D. J. Freed, CTT's
President and CEO. "We believe this payment is just a first step in the funds
that will be generated for CTT and our clients in the successful applications of
our technology. This is another example of a CTT-licensed technology satisfying
the needs and demands of the market, adding to our recurring revenue stream and
strengthening shareholder value."

About Palatin Technologies, Inc.
Palatin Technologies, based in Cranbury, NJ, is a biopharmaceutical company
focused on discovering and developing melanocortin-based therapeutics.
NeutroSpec(TM), the company's proprietary radiolabeled monoclonal antibody
product for imaging and diagnosing infections, has been approved by the FDA as
an imaging agent for the diagnosis of equivocal appendicitis. NeutroSpec is
marketed and distributed by PTN's strategic collaboration partner, Mallinckrodt
Imaging, a business unit of Tyco Healthcare. PTN is currently conducting
clinical trials with its lead drug, PT-141, a melanocortin receptor agonist, for
the treatment of male and female sexual dysfunction. PTN's patented drug
discovery platform, MIDAS(TM), streamlines the drug design process with an
efficient approach to identify lead compounds from protein targets for drugs.
Visit PTN's website: www.palatin.com

About King Pharmaceuticals, Inc.
King, headquartered in Bristol, TN, is a vertically integrated branded
pharmaceutical company. KG, an S&P 500 Index company, seeks to capitalize on
opportunities in the pharmaceutical industry through the development, including
through in-licensing arrangement and acquisitions, of novel branded prescription
pharmaceutical products in attractive markets and the strategic acquisition of
branded products that can benefit from focused promotion and marketing and
product life-cycle management. Visit KG's website at: www.kingpharm.com.

About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full service technology
transfer and licensing provider focused on the technology needs of its customers
and transforming those requirements into commercially viable solutions. CTT is a
global leader in identifying, developing and commercializing innovative
technologies in life, electronic, nano, and physical sciences developed by
universities, companies and inventors. CTT maximizes the value of intellectual
assets for the benefit of its customers, clients and shareholders. Visit CTT's
website: www.competitivetech.net.



Statements about our future expectations, including development and regulatory
plans, and all other statements in this press release other than historical
facts are "forward-looking statements" within the meaning of applicable Federal
Securities Laws, and are not guarantees of future performance. When used herein,
the words "anticipate," "believe," "intend," "plan," "expect," "estimate,"
"approximate," and similar expressions, as they relate to us or our business or
management, are intended to identify such forward-looking statements. These
statements involve risks and uncertainties related to market acceptance of and
competition for our licensed technologies, growth strategies, operating
performance, industry trends, and other risks inherent in our business,
including those set forth in Item 7 under the caption "Risk Factors," in our
most recent Annual Report on Form 10-K filed with the SEC on October 29, 2004,
and other factors that may be described in our other filings with the SEC, and
are subject to change at any time. Our actual results could differ materially
from these forward-looking statements. We undertake no obligation to update
publicly any forward-looking statement.



                                                                                    
Direct inquiries to:       Johnnie D. Johnson, Strategic IR, Inc.               E-mail: jdjohnson@strategic-ir.com
                           Tel. (212) 754-6565; Fax (212) 754-4333              E-mail: ctt@competitivetech.net