About Titan
Titan Pharmaceuticals, Inc. is a biopharmaceutical company with valuable assets in the CNS (central nervous system) area.
Fanapt™ (iloperidone)
On May 6, 2009 Fanapt™, an atypical antipsychotic drug, was granted marketing approval by the US Food & Drug Administration for the treatment of adult patients with schizophrenia. Titan is entitled to receive 8-10% royalties on global net sales of Fanapt™, which are expected to commence by the end of 2009. The global sales of atypical antipsychotic products exceeds $20 billion per year.
Probuphine®
Probuphine is a novel, subcutaneous implant formulation of buprenorphine designed to deliver six months of medication following a single treatment. This product is in Phase 3 development and has already demonstrated strong positive results in a controlled Phase 3 study for the treatment of opioid addiction. Titan continues to look for partners and other sources of funds to complete this development program.
In furtherance of the Company's efforts to conserve capital, in December 2008 the Company filed with the Securities and Exchange Commission a Form 25 to voluntarily delist from the American Stock Exchange and a Form 15 to voluntarily suspend its reporting obligations under the Securities Exchange Act of 1934, as amended. The Company's common stock is traded on the Pink OTC Markets ([TTNP.PK] www.pinksheets.com)quotations system. For further information please contact
Sunil Bhonsle, President at:
PRESS RELEASES
SOUTH SAN FRANCISCO, CA July 26, 2010 — Titan Pharmaceuticals, Inc. (TTNP.OB) today announced that the National Institutes of Health (NIH) has awarded the company a grant under the Small Business Innovation Research (SBIR) program supporting the development of a long-term, non-fluctuating dopamine agonist treatment for Parkinson's disease.
SOUTH SAN FRANCISCO, CA July 23, 2010 — Titan Pharmaceuticals, Inc. (TTNP.OB) today reported that the company expects to receive a royalty payment of approximately $55,000 on second quarter 2010 sales of Fanapt (iloperidone) of approximately $693,000.
SOUTH SAN FRANCISCO, CA June 16, 2010 — Titan Pharmaceuticals, Inc. today announced that the United States Patent and Trademark Office (USPTO) has issued patent number 7,736,665 covering Probuphine for the treatment of opiate addiction. Titan is the assignee of this patent which claims a method for treating opiate addiction with a subcutaneously implanted device comprising buprenorphine and ethylene vinyl acetate, a biocompatible copolymer that releases buprenorphine continuously for extended periods of time. This patent, which also includes certain additional claims covering the composition and dimensions of the device, will expire in June 2023 excluding any patent term adjustment which is expected to add several months to the life of the patent.
SOUTH SAN FRANCISCO, CA May 17, 2010 — Titan Pharmaceuticals, Inc. (TTNP.PK) today reported financial results for the first quarter ended March 31, 2010.
Total revenues for the first quarter of 2010 were $2.4 million consisting primarily of royalty and grant revenues. The first quarter marked a key milestone for Titan with the commercial launch of Fanapt™ in the U.S. by Novartis, which generated $1.7 million in royalty revenue for Titan. Grant revenue from the National Institutes of Health (NIH) in support of the Phase 3 clinical study of Probuphine® was $0.7 million.
SOUTH SAN FRANCISCO, CA April 27, 2010 — Titan Pharmaceuticals, Inc. (TTNP.PK) today announced that the Securities and Exchange Commission (SEC) has completed the review of Titan's Form 10 for the re-registration of the company's securities and resumption of its reporting obligations under the Securities Exchange Act of 1934.
SOUTH SAN FRANCISCO, CA April 21, 2010 — Titan Pharmaceuticals, Inc. today confirmed that the company expects to receive a payment of approximately $1.6 million by May 15, 2010 as the royalty on the first quarter 2010 sales of Fanapt™ (iloperidone), a drug for the treatment of schizophrenia launched in the US by Novartis Pharma AG in January 2010.
SOUTH SAN FRANCISCO, CA March 30, 2010 — Titan Pharmaceuticals, Inc. today announced the initiation of a randomized, placebo and active controlled, multi-center Phase 3 clinical study of Probuphine® in the treatment of opioid addiction. This confirmatory Phase 3 study will be conducted at approximately 23 sites in the United States and randomize approximately 250 patients into three arms: Probuphine (100 patients), Suboxone® (100 patients) and placebo (50 patients).
SOUTH SAN FRANCISCO, CA February 3, 2010 — Titan Pharmaceuticals, Inc. announced today that company President Sunil Bhonsle will present during the 12th Annual BIO CEO & Investor Conference on Monday, February 8, 2010 at 2:00 p.m. ET. The presentation will be webcast from the Waldorf-Astoria Hotel in New York, NY.
SOUTH SAN FRANCISCO, CA January 19, 2010 — Titan Pharmaceuticals, Inc. today announced that on January 14, 2010 it filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (“SEC”) in order to register its common stock under the Securities Exchange Act of 1934 (“Exchange Act”). This filing is part of the process necessary for the Company to become a reporting company again under the Exchange Act.