TTNP Titan Pharmaceuticals Inc.

2.72
-0.16  -6%
Previous Close 2.88
Open 2.9
52 Week Low 2.56
52 Week High 14.064
Market Cap $26,830,265
Shares 9,864,068
Float 9,857,459
Enterprise Value $23,804,515
Volume 266,169
Av. Daily Volume 1,641,491
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Drug Pipeline

Drug Stage Notes
Ropinirole implant
Parkinson's disease
Phase 1/2
Phase 1/2
Phase 1/2 treatment has commenced - noted October 11, 2017. DSMB recommended trial to continue - July 2, 2018 but further enrollment has been postponed due to lack of resources.
Probuphine
Opioid dependence
Approved
Approved
CRL issued April 30, 2013. Approved May 26 2016

Latest News

  1. SOUTH SAN FRANCISCO, Calif., March 31, 2021 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) announced today that it has filed its annual report on Form 10-K for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission ("SEC").

    In October 2020, Titan announced a strategic restructuring, including the discontinuation of its U.S. Probuphine® implant sales and the wind down of Probuphine commercialization activities. This was shortly followed with its acquisition of a kappa opioid agonist peptide, or TP-2021 (formerly JT-09), and the settlement of substantially all of its outstanding debt, all of which has enabled the Company to pursue a plan focused on its current, early-stage ProNeura®-based product development programs.

    As a result of this restructuring, the financial statements in Titan's Form 10-K reflect results of operations from both continuing and discontinued operations.

    Titan's net loss from continuing operations for the year ended December 31, 2020 was approximately $7.4 million, or approximately $1.96 per share, compared to a net loss from continuing operations of approximately $7.5 million, or approximately $9.78 per share, for the comparable period in 2019. The net loss from discontinued operations for the year ended December 31, 2020 was approximately $10.8 million, or approximately $2.87 per share, compared to a net loss from discontinued operations of approximately $9.0 million, or approximately $11.71 per share, for the comparable period in 2019.

    At December 31, 2020, Titan had cash and cash equivalents of approximately $5.4 million, which the Company believes, together with the approximately $8.9 million of the net proceeds from its January 2021 Offering, are sufficient to fund its planned operations into the first quarter of 2022.

    "As a result of our transition from a commercial-stage back to a development-stage company, we have discontinued hosting quarterly investor conference calls. Of course, Titan remains committed to disclosing all material news and information in a timely manner, and we look forward to updating investors accordingly as we move forward," said Marc Rubin, M.D., Titan's Executive Chairman.

    A copy of Titan's annual report is available on the SEC's website at www.sec.gov, and on the Company's website at www.titanpharm.com under "Annual Reports" in the Investors section.

    About Titan Pharmaceuticals

    Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) is a development-stage biotechnology company developing proprietary therapeutics using its clinically proven ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating  a number of chronic conditions where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.  

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    CONTACT:

    Stephen Kilmer

    Investor Relations

    (650) 989-2215

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    SOURCE Titan Pharmaceuticals, Inc.

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  2. SOUTH SAN FRANCISCO, Calif., Feb. 1, 2021 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) today announced that studies of its kappa opioid agonist peptide, JT-09, has demonstrated high potency and specificity for the human kappa-opioid receptor ("KOR"). JT-09 is being developed for use in combination with Titan's ProNeura® long-term, continuous drug delivery technology for the treatment of moderate-to-severe chronic pruritus (itch).

    The KOR potency studies used the cAMP Hunter™ assay with cloned human mu, delta and kappa opioid receptors. In addition, in studies conducted in collaboration with Charles Chavkin, Ph.D., Allan and Phyllis Treuer Endowed Chair of Pain Research and Professor, Department of Pharmacology, at the University of Washington Health Sciences Center, Seattle, WA, pretreatment with JT-09 or with difelikefalin (which is being developed as Korsuva™ by Cara Therapeutics, Inc.) were observed to be equally potent in reducing scratching and grooming bouts when injected subcutaneously (0.3 mg/kg) in a 5'-guanidinonaltrindole (5'-GNTI) itch-induced mouse model.

    "Pilot pharmacokinetic studies in rats previously indicated that subcutaneous placement of ProNeura implants containing JT-09 could deliver potentially therapeutic concentrations of this KOR agonist for up to six months or longer," said Kate Beebe DeVarney, Ph.D., President and Chief Operating Officer of Titan.

    Dr. Beebe DeVarney continued, "These additional early positive data provide strong support for us to move forward with our planned non-clinical proof-of-concept study of JT-09 ProNeura implants in this animal itch model. This is an important next step for Titan towards developing a new treatment modality for moderate-to-severe chronic pruritus that is effective, patient-friendly and convenient."

    About Chronic Pruritus

    Chronic pruritus is an unpleasant sensation resulting in a need to scratch that lasts more than 6 weeks. It is a prevalent and bothersome symptom associated with both cutaneous and systemic conditions. Due to its complex pathogenesis and numerous contributing factors, effective treatment of chronic pruritus therapy remains challenging.

    About Titan Pharmaceuticals

    Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) is a development-stage biotechnology company developing proprietary therapeutics using its clinically proven ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating  a number of chronic conditions where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    Korsuva is a trademark of Cara Therapeutics, Inc.

    CONTACT:

    Stephen Kilmer

    Investor Relations

    (650) 989-2215

     

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    SOURCE Titan Pharmaceuticals, Inc.

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  3. SOUTH SAN FRANCISCO, Calif., Jan. 15, 2021 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) today announced it has entered into a securities purchase agreement with certain accredited institutional investors to purchase approximately $9.7 million of its common stock in a registered direct offering and warrants to purchase common stock in a concurrent private placement. The combined purchase price for one share of common stock and each warrant will be $3.55.

    Under the terms of the purchase agreement, Titan has agreed to sell 2,725,000 shares of its common stock and warrants to purchase up to an aggregate of 2,725,000 shares of common stock. The warrants will be immediately exercisable, will expire on the five year and six-month anniversary of the issuance date and will have an exercise price of $3.55 per share.

    Titan expects the net proceeds from the registered direct offering and concurrent private placement to be approximately $8.9 million after deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about January 20, 2021, subject to the satisfaction of customary closing conditions.

    Maxim Group LLC is acting as the sole placement agent in connection with the offering.

    The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-230742), which was declared effective by the United States Securities and Exchange Commission ("SEC") on April 24, 2019. The warrants issued in the concurrent private placement and shares issuable upon exercise of such warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock and warrants will be filed by Titan with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at or telephone at (212) 895-3745.

    About Titan Pharmaceuticals

    Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a development stage company developing proprietary therapeutics with its ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    CONTACTS:

    Stephen Kilmer

    Investor Relations

    (650) 989-2215

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/titan-pharmaceuticals-announces-pricing-of-9-7-million-registered-direct-offering-301209330.html

    SOURCE Titan Pharmaceuticals, Inc.

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  4. SOUTH SAN FRANCISCO, Calif., Dec. 16, 2020 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) ("the "Company") today announced that on December 15, 2020, it received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") confirming that the Company has regained compliance with Nasdaq's minimum bid price requirement and is in compliance with all applicable listing standards. Therefore, the scheduled hearing before the Nasdaq Hearings Panel has been cancelled and the Company's common stock will continue to trade on the Nasdaq Capital Market. 

    About Titan Pharmaceuticals

    Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a development stage company developing proprietary therapeutics with its ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    CONTACTS:

    Stephen Kilmer

    Investor Relations

    (650) 989-2215

       

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/titan-pharmaceuticals-regains-compliance-with-nasdaq-listing-requirements-301193972.html

    SOURCE Titan Pharmaceuticals, Inc.

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  5. SOUTH SAN FRANCISCO, Calif., Nov. 30, 2020 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) ("Titan" or the "Company") today announced that its Board of Directors has approved a 1-for-30 reverse stock split of the Company's common stock, which will be effective at 5:00 p.m. Eastern Time on Monday, November 30, 2020. The Company's stockholders approved the reverse stock split at a Special Meeting of Stockholders on November 30, 2020. The Company's shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market commencing upon market open on December 1, 2020. 

    As a result of the reverse split, each 30 shares of the Company's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock, par value $0.001 per share. The Company will not issue any fractional shares in connection with the reverse stock split. Instead, the number of shares will be rounded up to the next whole number. The reverse stock split will not modify the rights or preferences of the common stock.

    Immediately after the reverse split becomes effective, there will be approximately 6.6 million shares of common stock issued and outstanding. The common shares will trade under a new CUSIP number, 888314606, effective December 1, 2020, and continue to trade under the symbol "TTNP." All stock options and warrants of the Company outstanding immediately prior to the reverse stock split have been proportionally adjusted.

    The Company has appointed its transfer agent, Continental Stock Transfer & Trust Company ("Continental"), to act as exchange agent for the reverse stock split. Stockholders owning shares via a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split and will not be required to take further action in connection with the reverse stock split, subject to brokers' particular processes. Continental can be reached at (917) 262-2378.

    About Titan Pharmaceuticals

    Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a development stage company developing proprietary therapeutics with its ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the winding down of U.S. commercial activities related to Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    CONTACTS:

    Stephen Kilmer

    Investor Relations

    (650) 989-2215

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/titan-pharmaceuticals-announces-reverse-stock-split-301181721.html

    SOURCE Titan Pharmaceuticals, Inc.

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