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Titan Pharma down 29% on capital raise

  • Thinly traded nano cap Titan Pharmaceuticals (TTNP -29%) is down on almost double normal volume, albeit on turnover of only 467K shares, on the heels of its agreement with an institutional investor to sell ~2.9M shares of its common stock plus five-year warrants to purchase up to the same number of shares at $1.07 at a combined price of $0.75.
  • Net proceeds should be ~$1.8M.
  • Yesterday's close was $1.07.

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Titan Pharmaceuticals, Inc.