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Titan Pharma down 51% after pricing equity offering

  • Nano cap Titan Pharmaceuticals (TTNP -51%) slumps on an 8x surge in volume in early trade in reaction to its public offering of 40M Units at $0.225 per Unit.
  • Each Unit consists of one common share (or pre-funded warrant) and one five-year Class B Warrant to purchase one common share at $0.225.
  • Underwriters over-allotment is an additional 6M common shares and/or Class B Warrants to purchase up to 6M shares.
  • Closing date is October 18.
  • Yesterday's close was $0.370.

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Titan Pharmaceuticals, Inc.