16. SUBSEQUENT EVENTS	12 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]
15. SUBSEQUENT EVENTS	Licensing Agreement – On September 6, 2017, the Company entered into a collaboration and license agreement with Fosun, for exclusive rights to commercialize bremelanotide in the territories of mainland China, Taiwan, Hong Kong S.A.R. and Macau S.A.R. Under the terms of the agreement, Palatin will receive an upfront payment of $5.0 million and a $7.5 million milestone payment when regulatory approval in China is obtained. Palatin has the potential to receive up to $92.5 million in sales related milestones payments and high single-digit to low double-digit royalties on net sales in the licensed territory. All development, regulatory, sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility of Fosun. Outstanding Common Stock – Between July 1, 2017 and September 21, 2017, the Company issued 7,091,736 shares of common stock pursuant to the cashless exercise provisions of warrants at an exercise price of $0.01 and issued 11,438,356 shares of common stock pursuant to the exercise of warrants at an exercise price of $0.01 per share. As of September 21, 2017, warrants with an exercise price of $0.01 per share to purchase 16,472,412 shares of common stock are outstanding, all of which include cashless exercise provisions.

16. SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2017

Licensing Agreement – On September 6, 2017, the Company entered into a collaboration and license agreement with Fosun, for exclusive rights to commercialize bremelanotide in the territories of mainland China, Taiwan, Hong Kong S.A.R. and Macau S.A.R.

Under the terms of the agreement, Palatin will receive an upfront payment of $5.0 million and a $7.5 million milestone payment when regulatory approval in China is obtained. Palatin has the potential to receive up to $92.5 million in sales related milestones payments and high single-digit to low double-digit royalties on net sales in the licensed territory. All development, regulatory, sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility of Fosun.

Outstanding Common Stock – Between July 1, 2017 and September 21, 2017, the Company issued 7,091,736 shares of common stock pursuant to the cashless exercise provisions of warrants at an exercise price of $0.01 and issued 11,438,356 shares of common stock pursuant to the exercise of warrants at an exercise price of $0.01 per share. As of September 21, 2017, warrants with an exercise price of $0.01 per share to purchase 16,472,412 shares of common stock are outstanding, all of which include cashless exercise provisions.