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Tag: NASDAQ: TTNP

  • Titan Pharmaceuticals (NASDAQ: TTNP) Is Plunging. Here’s Why

    Titan Pharmaceuticals (NASDAQ: TTNP) Is Plunging. Here’s Why

    Share of Titan Pharmaceuticals (NASDAQ: TTNP) traded down -20.46% during the trading session of Monday after the company disclosed that it has settled all of its debt obligations with Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A (Molteni) and Horizon Credit LLC II. TTNP has signed an agreement to settle all the debt and the company has also entered into an agreement to buy JT Pharmaceuticals, Inc.’s kappa opioid agonist peptide, JT-09.

    Titan Pharmaceuticals is planning to use JT-09 in combination with Titan’s ProNeura® long-term, continuous drug delivery technology, for the treatment of chronic pruritus. It has earlier disclosed that it has signed an asset purchase agreement with JT Pharmaceuticals.

    The execution of both the agreement based on Titan’s closing of the earlier announced underwritten public offering, which occurred on October 30, 2020. It has revealed that after the debt settlement agreement there is no one who can claim the assets rights of Titan in the future.

    Titan’s Executive Chairman, Dr. Marc Rubin disclosed that with the profit it has earned through recent public offering and the reduction in operating expenses, it is now capable to advance preclinical development of its ProNeura-based product candidate pipeline, including establishing proof of concept with JT-09 in the first half of 2021.

    Titan Pharmaceuticals (NASDAQ: TTNP) shares were trading down -20.46% at $0.11 at the time of writing on Monday.  Titan Pharmaceuticals share price went from a low point around $0.11 to briefly over $0.55 in the past 52 weeks. It has moved down -1.06% from its 52-weeks low and moved down -79.52% from its 52-weeks high. TTNP market cap has remained high, hitting $16.94 at the time of writing.

    Titan Pharmaceutical earlier revealed that after the agreement with JT Pharmaceuticals, JT Pharma has full rights to get future milestone payment of Titan based on the achievements. The company will use JT-09 in combination with Titan’s ProNeura continuous drug delivery technology, for the treatment of chronic pruritus. Chronic Pruritus is the itching condition on the skin.

     

  • Titan Pharmaceuticals (NASDAQ: TTNP) Announces Asset Purchase Agreement With JT Pharmaceuticals

    Titan Pharmaceuticals (NASDAQ: TTNP) Announces Asset Purchase Agreement With JT Pharmaceuticals

    Titan Pharmaceuticals (NASDAQ: TTNP) shares soared 28.71% during the pre-market trading session of Tuesday after the company announced that it has signed an Asset Purchase Agreement with JT Pharmaceuticals, Inc. Titan Pharmaceuticals revealed that it has bought the kappa opioid agonist peptide, JT-09 of JT Pharmaceuticals, for use in combination with Titan’s ProNeura long-term, continuous drug delivery technology, for the treatment of chronic pruritus.

    According to the agreement, JT Pharma has full rights to get Titan’s future milestone payments based on the achievement of regulatory milestones, including possible regulatory approvals for commercialization, as well as payments beyond the single-digit percentage earnings on net sales of the product. The execution of the Asset Purchase Agreement is based on the completion of financing with gross profits of at least $8,000,000 and other closing conditions. 

    Chronic Pruritus is an itching condition on the skin that lasts for more than six weeks and it caused inflammatory skin diseases. Current treatments of this disease are not effective and are leaving undesirable side-effects.

    President and Chief Operating Officer of Titan, Dr. Kate DeVarney said: “Our preliminary non-clinical data reveals that specialized implantation of JT-09 ProNeura Implants could possibly provide JT-09 treatment for a period of six months or more.” The company is planning to conduct additional clinical studies to establish proof-of-concept with the data available in the first half of 2021.

    Titan Pharmaceuticals (NASDAQ: TTNP) shares were trading up 31.83% at $0.1690 at the pre-market trading session of Tuesday. Titan Pharmaceuticals (NASDAQ: TTNP) share price went from a low point around $0.11 to briefly over $0.55 in the past 52 weeks. In the pre-market trading session, it has a trading volume of 18.33 million. TTNP market cap has remained high, hitting $14.32 Million at the time of writing.