Titan Pharmaceuticals Inc
Titan Pharmaceuticals Inc (OTCQB:TTNP), is a biopharmaceutical company specializing in the development of products for treatment of central nervous system diseases (NYSE:CNS). TTNP's chief asset is Probuphine, a slow-release implant medication of buprenorphine hydrochloride. Buprenorphine hydrochloride is a semi-synthetic opioid considered to be more than 25 times more effective than the coveted morphine pain reliever. The drug is designed to maintain a stable, 24/7 blood level of the formulation in patients for up to six months, ensuing a single treatment. First launched in 2011, is now available in a seven day transdermal patch for the of chronic pain patients. The transdermal patch is subdermally implanted in the patient's upper arms, providing continuous pain relief. This form of administration reduces the illegal use of the drug and helps prevent accidental overdose which can become prevalent with oral medication forms. In October 2012, the FDA received request for approval for the new drug to be administered also for opioid dependency, to combat opioid addictions.
Titan Pharmaceuticals Inc, hopes to enter into several partnerships other pharmaceutical companies and commercialize Probuphine in U.S. and foreign markets.
Secondly, Titan Pharmaceuticals Inc. currently is entitled to 8-10% of net sales for the drug Fanapt (iloperidone), which is an antipsychotic approved by the FDA (May 2009) for the treatment of schizophrenia and marketed by Novartis Pharma AG ("Novartis") in the U.S. This sublicense agreement with Novartis, is based on a patent which will not expire until October 2016.
TTNP's stock price is currently $1.68. The price over the past 52 weeks has a range of $0.60 to $2.53, with a market cap of $126.36 million. The company is poised to make huge gains again soon. Previous close $1.73.
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Robert E. Farrell
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.