As a follow-up to my recent "Falling Health Care Stocks" post, here's a few more to take a look at. Opportunities may be a-plenty if Tuesday's market dive continues.
Titan Pharmaceuticals Inc. (TTNP): Titan continues to trade for under the two dollar price mark, even after releasing historic news last month with confirmation that the latest Probuphine Phase III trial had proven to be a success.
A meeting with the FDA to decide the regulatory path to approval for Probuphine is not scheduled until later this year, giving investors time to conduct some DD and take a look at the future prospects of Titan, but a recent report has also highlighted the fact that there might be some potential suitors out there looking to jump on Titan and its ProNeura subcutaneous drug delivery technology.
With little chance of patients being able to abuse Probuphine as they can with other options in treating opioid addiction, there's a good chance that a strong immediate push into the market could take place. Further on down the road, ProNeura could take Probuphine even deeper into the pharmaceutical market, as trials are currently underway for the treatment of chronic pain.
Although sales of Vanda's (VNDA) schizophrenia drug Fanapt (which is partnered with Novartis (NVS) have yet to become overwhelming, Titan receives an expense-free revenue rate of 8% on all sales of the product.
A $20 million credit facility secured earlier in the year has secured the short term finanical health of the company, but speculation in the investing community still has bets placed on a buyout. With the general market falling as a result of inept politicians and an economy that continues to sputter along, companies with the potential of Titan might be had for 'on the cheap', as they say.
As long as this
