- Thanks to sales of Probuphine by Braeburn, Titan (TTNP -9.6%) earned $40K in license revenue in Q1 vs. nothing a year ago.
- Total operating expenses of $3.5M nearly double that of last year, with R&D moving to $2.1M from $700K due mostly to the Probuphine and ProNeura product development programs.
- Net loss of $3M or $0.14 per share vs. $1.8M and $0.09 a year ago.
- At quarter's end cash and equivalents of $10.9M, which is believed to be enough to fund operations through Q2 of 2018.
- The conference call is set for 4:15 ET.
- Previously: Titan Pharmaceuticals misses by $0.01, misses on revenue (May 10)
Titan Pharma down 10% after earnings
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Titan Pharmaceuticals, Inc. |