FORM 4	UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940	OMB APPROVAL
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).		OMB Number: 3235-0287Expires: January 531, 2005 Estimated average burdenhours per response. . . . 01.50

1. Name and Address of Reporting Person* Horvitz Zola P.	2. Issuer Name and Ticker or Trading Symbol Palatin Technologies, Inc. PTN		6. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person* Taber, Robert I.	2. Issuer Name and Ticker or Trading Symbol Palatin Technologies, Inc. PTN		6. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below) ______________________
(Last) (First) (Middle) Palatin Technologies, Inc. 4C Cedarbrook Drive	3. IRS Identification Number of Reporting Person, if an entity (voluntary)	4. Statement for Month/Day/Year 10/14/02
(Last) (First) (Middle) Palatin Technologies, Inc. 4C Cedar Brook Drive	3. IRS Identification Number of Reporting Person, if an entity (voluntary)	4. Statement forMonth/Day/Year 12/062002
(Street) Cranbury NJ 08512		5. If Amendment, Date of Original (Month/Day/Year)	7. Individual or Joint/Group Reporting (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person
(City) (State) (Zip)	Table I – Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr.3)	2. Trans- action Date (Month/ Day/ Year)	2A3.~~DeemedExecutionDate,~~ ~~ifany(Month/~~Trans- ~~Day/~~action ~~Year~~Code (Instr. 8)	~~3. Trans- action Code (Instr. 8)~~	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)	~~4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)~~		5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)	56. ~~Amount~~Ownership ofForm: ~~Securities~~Direct ~~Beneficially~~(D) ~~Owned~~or ~~Following~~Indirect ~~Reported Transaction~~(sI) (Instr. ~~3 and~~ 4)	67. ~~Owner-~~Nature ~~ship~~of ~~Form:~~Indirect ~~Direct~~Beneficial ~~(D)~~Ownership ~~or Indirect~~ (~~I) (~~Instr. 4)	~~7. Nature of Indirect Beneficial Owner- ship (Instr. 4)~~
		Code	~~Code~~V	VAmount	~~Amount~~(A) or (D)	~~(A)or(D)~~Price	~~Price~~
common stock	10/14/02		P		500	A	$1.60		D
common stock	10/14/02		P		3,000	A	$1.65		D
common stock	10/14/02		P		1,500	A	$1.70	5,000	D

*If the form is filed by more than one reporting person, see instruction 4(b)(v).

Persons who respond to the collection of information contained this form are not required to respond unless the form displays a currently valid OMB control Number.

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FORM 4 (continued)

TABLE II – Derivative Securities Acquired, Disposed of or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security ( Instr.3)

2. Conver- sion or ~~Exercise~~Exer- cise Price of ~~Deriv~~Deriva- ~~ative~~tive ~~Security~~Se- curity

3. Trans- action Date (Month/ Day/ Year

3A4.~~DeemedExecutionDate,~~ ~~ifany(Month/~~Trans- ~~Day/~~action ~~Year~~Code (Instr. 8)

45. ~~Trans~~Number of Deriva- ~~action~~tive ~~Code~~Securities Ac- quired (A) or Dis- posed of (D) (Instr. 83, 4 and 5)

56. ~~Number~~Date ~~of Deriv~~Exercis- ~~ative~~able ~~Securities~~and AcExpi- ~~quired~~ration ~~(A)~~Date ~~or Dis- posed of~~ (D)Month/Day/ ~~(Instr. 3, 4 and 5~~Year)

67. ~~Date~~Title ~~Exer-~~and ~~cisable~~Amount ~~and~~of ~~Expiration~~Underlying ~~Date~~Securities (~~Month/Day/~~Instr. ~~Year~~3 and 4)

78. ~~Title~~Price ~~and~~of ~~Amount~~Deriva- oftive ~~Underlying~~Secu- ~~Securities~~rity (Instr. ~~3 and 4~~5)

9. Number of Derivative Securities Benefically Owned at End of Month (Instr. 4)

810. ~~Price~~Owner- ship of ~~Deriva-~~Derivative ~~tive~~Security: ~~Secu-~~Direct ~~rity~~(D) or Indirect (I) (Instr. 54)

911. ~~Number~~Nature of ~~deriv-~~Indirect ~~ative~~Beneficial ~~Secu-~~Ownership ~~rities Bene- fically Owned Follow- ing Reported Trans- action~~(~~s) (~~Instr. 4)

~~10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I) (Instr. 4)~~

~~11. Nature of Indirect Bene- ficial Owner- ship (Instr. 4)~~

Code

(A)

(D)

DateExer-cisable

Expira-tionDate

Title

Amount orNumberofShares

(A)

(D)

DateExer-cisable

Expira-tionDate

Title

Amount orNumber ofShares

$1.59

12/06/02

25,000

(1)

12/06/12

common

25,000

Explanation of Responses:

	/s/ Zola P. Horovitz **Signature of Reporting Person	October 14, 2002Date
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form desplays a currently valid OMB Number.

(1) Option vests as to 1/12 of the shares on the last day of each month, starting in January 2003.


	/s/ Robert I. Taber **Signature of Reporting Person	January 23, 2003 Date

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form desplays a currently valid OMB Number.

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