Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), based in South San Francisco, CA, is a commercial stage company developing proprietary therapeutics with its ProNeura™ long-term, continuous drug delivery technology. The company’s lead product is Probuphine®, a novel and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence.
The share price of TTNP experienced a massive (+50%) surge with strong volumes post the company reported a Double-Digit Increase in Probuphine Shipments. On Jan 31st, 2019, the company provided an extremely promising update on the U.S. commercial relaunch of Probuphine (buprenorphine) implant, its unique six-month treatment for Opioid Use Disorder (OUD).
Titan has successfully completed the program’s planned transition from Braeburn Pharmaceuticals. Important commercialization accomplishments include the recruitment and onboarding of highly qualified commercial and medical affairs personnel for all targeted geographies; the engagement of a leading public relations agency for the re-branding of Probuphine; and the retention of a well-known government relations firm to plan and execute a new lobbying strategy for the product.
As per management, these accomplishments and other activities have contributed to a double-digit increase in total product shipments in the period following Titan’s assumption of responsibility for Probuphine sales in mid-June 2018. Based on preliminary information, total shipments of Probuphine during the rest of the year increased sequentially by over 20%. Titan expects to provide more details in its fourth quarter and full-year 2018 financial results, which it expects to release in late March 2019.
“We are pleased that the initial stages of our relaunch have shown that the current market is highly receptive to our market segmentation strategy and core messaging,” said Titan’s Chief Commercial Officer, Dane Hallberg. “Along with the positive feedback we have received from both health care providers, and their patients, the increase in product shipments suggests that our relaunch strategy is sound, and we look forward to updating investors as this initiative progresses.”
- The company is aggressively evaluating the market for opioid use disorder and start laying the necessary groundwork and strategies to position Probuphine for full-fledged success. The market continues to remain bullish about the significant and growing market for Probuphine, which has the potential to address critical unmet needs in this global epidemic.
- TTNP will be initiating the required Probuphine Phase 4 clinical studies next year.
- While the company’ other product development programs remain a very important part of its growth strategy, the management shall advance these as resources allow.
- Titan has recognized that its ProNeura platform has the potential to benefit patients with chronic disease, and will continue to pursue the development of other ProNeura-based products, once it has fully executed on the Probuphine re-launch.
- More details are expected with the next earnings release, due in late March.
Before this on Nov 14th, the company reported financial results for the third quarter ended Sep 30, 2018, and provided an update on its business. In order to maximize the significant market opportunity represented by its lead product, Probuphine®, TTNP was focused during the third quarter on successfully completing its transition to a commercial-stage company. TTNP strengthened its balance sheet via a public offering and completed the transfer of supply chain and logistics functions. More recently, Titan appointed Dane Hallberg to the newly created position of Executive Vice President and Chief Commercial Officer. Under Dane’s leadership, Titan has rapidly built its commercial infrastructure, including a small, experienced and highly-accomplished sales, marketing and medical liaison team that has hit the ground running.
Key & unique differentiating factor of the company:
Lead product, Probuphine, is an implant formulation of buprenorphine for the long-term maintenance treatment of opioid use disorder (OUD)
• Approved in U.S. and Canada, under regulatory review in EU
• An important therapeutic option to fight the growing opioid addiction pandemic
ProNeura™ platform technology provides continuous delivery, maintaining a stable blood level of selected drugs for the treatment of addiction and other disease categories
• Pain, Parkinson’s disease, malaria, diabetes, thyroid disease
Driven by its favorable fundamentals, Titan has become a momentum stock in the recent past. The company is continuously progressing towards commercialization stage following reacquisition of Probuphine® rights in the U.S.
Research firms are positive about the performance of Titan Pharmaceuticals, Inc. (TTNP) with most of them predicting a possible re-rating over the near to medium term. Per www.marketbeat.com, Their average twelve-month price target is $12.00, suggesting that the stock has a possible upside of 527.45%. Considering all this, the company is in an extremely favorable risk-reward position, and value investors should consider exposure in this sector as the backdrop remains favorable.
Description & about the Company: Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), based in South San Francisco, CA, is developing proprietary therapeutics primarily for the treatment of select chronic diseases.
The company’s lead product is Probuphine®, a novel and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence. Probuphine employs Titan’s proprietary drug delivery system ProNeura™, which is capable of delivering sustained, consistent levels of medication for three months or longer.
Approved by the FDA in May 2016, Probuphine is the first and only commercialized treatment of opioid dependence to provide continuous, around-the-clock blood levels of buprenorphine for six months following a single procedure. The ProNeura technology has the potential to be used in developing products for treating other chronic conditions such as Parkinson’s disease and hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes.
Third Quarter 2018 Business Highlights/achievements:
- In August 2018, Titan entered into an amendment of the previously announced definitive asset purchase, supply and support agreement with L. Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A., and in connection with the amendment received approximately $1.7 million during the quarter.
- In September 2018, Titan initiated a pilot program in collaboration with the Nevada Center for Behavioral Health to evaluate a medication-assisted treatment (MAT) program utilizing the Probuphine® (buprenorphine) implant within the State of Nevada criminal justice system.
- In September 2018, Titan was awarded a two-year grant of approximately $6.7 million from the National Institutes of Health’s National Institute on Drug Abuse (NIDA) for the development of a ProNeura-based six-month implantable formulation of the opioid antagonist, Nalmefene.
- In September 2018, Titan closed an underwritten public offering, which provided net proceeds of approximately $8.5 million. Additionally, in October and November 2018, Titan received approximately $4.6 million from the full exercise of the Underwriters’ over-allotment option and the exercise of 13,070,900 common stock purchase warrants issued in the financing.
Quarterly Financial Results (in, thousands):
- Revenue: For the three months ended September 30, 2018, Titan reported approximately $1.7 million in revenue, compared with approximately $40,000 in the same period in 2017. Revenues for the third quarter of 2018 reflect approximately $0.2 million in product sales, approximately $0.3 million related to the amortization of deferred revenue related to the sale to Molteni of the European intellectual property rights to Probuphine and approximately $1.1 million related to the amendment to the Molteni Purchase Agreement in August 2018.
- Profitability: Net loss applicable to common shareholders in the third quarter of 2018 was approximately $2.3 million, or approximately $0.11 per share, compared with a net loss applicable to common shareholders of approximately $4.2 million, or approximately $0.20 per share, in the same quarter in 2017.
- Comfortable Liquidity and financial flexibility: In September 2018, TTNP closed a previously announced underwritten public offering, which provided net proceeds of $8.5 million. At the end of the third quarter, the company had cash and cash equivalents of $8.4 million. Management believes that this combined with $4.6 million received from the sale of shares as a result of the underwriters exercise of the remaining overallotment option and the recent exercises of outstanding warrants is sufficient to fund its planned operations through the third quarter of 2019.
Key risk factors and potential stock drivers:
- Successful commercialization of Probuphine would lead future direction for the company. Any adversities related to this might adversely impact the overall investor sentiments.
- TTNP is still an early stage entity and has not yet generated meaningful revenue and will likely operate at a loss as it grows its market position and seeks ways to monetize it.
- The company is offering several new convertible securities, which would have the potential dilution risk for the existing shareholders.
- TTNP has a history of operating losses. Therefore, any time or cost overrun in its ongoing R&D activities and its impact on business & financial profile will remain a key business sensitivity factor.
- On Friday, February 1, 2019, TTNP is trading at $1.91 + 56.07%, with a robust average volume of 3.7 million shares exchanging hands. Market capitalization is $24.905 million. The current RSI is 65.51
- At $1.91, shares of TTNP are trading above its 50-day moving average (MA) at $1.59 and below its 200-day moving average (MA) at $3.60
About Traders News Source
Over 75% in realistic bookable gains so far in 2019
Any trader in any market would fall all over themselves to book gains like this. So, if you’ve been on the fence, perhaps it’s time to start doing some research and verify our numbers for yourself. We are constantly raising the bar and separate ourselves from the rest of the small-cap newsletters as the best in class. We know with a large following comes a large responsibility as we have everyone from the institutional investor to the beginner following our profiled securities in our newsletters. This is something we take very seriously always seeking small cap growth companies that have both near and long-term potential for our members.
View our track record, currently featured reports and updates here- https://tradersnewssource.com/traders-news-source-new-members/
***Get our small cap profiles, special situation and watch alerts in real time. We are now offering our VIP SMS/text alert service for free, simply text the word “Traders” to the phone number 25827 from your cell phone.
Pay attention, if you’re just joining us you are about to see why everyone wants to be like us. There are a lot of imitators but only one Traders News Group.
The Traders News Team
Traders News Source is a wholly owned subsidiary of Traders News Source LLC, herein referred to as TNS LLC.
Traders News Source has not been compensated for this report by anyone and the opinions if any are that of the author Vikas Agrawal, CFA. Author’s Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I, wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in the article.
This web site, published by TNS LLC, and is an investment newsletter that is built on the premise of assisting individual investors in learning about investing. Our goal as publishers of financial information is to provide research and analysis of investments to our subscribers. TNS LLC does not give buy or sell recommendations. We do purchase distribution rights from analyst, financial writers and bloggers for a fee that may be licensed to issue price targets and recommendations. Furthermore, we encourage you to speak to a licensed professional prior to making an investment in any type of publicly traded security.
We do sell advertising to other companies including brokerage firms, web sites, publicly traded issuers, investor relations firms, and investment publications, among others. TNS LLC makes no warranty as to the policies of these organizations, and in no way endorses their offers, services, or the content of their advertisements.
When an advertiser is a publicly traded company or a third party acting on behalf of a public company, we fully disclose all compensation in the email advertisement. Such disclosure is included in a disclosure statement in each of the advertisements sent via email.
Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The disclaimer is to be read and fully understood before using our services, joining our site or our email/blog list as well as any social networking platforms we may use.
PLEASE NOTE WELL: TNS LLC and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever.
Release of Liability: Through use of this website viewing or using you agree to hold TNS LLC, its operator’s owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. TNS LLC encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled or is available from public sources and TNS LLC makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provide herein. Instead TNS LLC strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D.
TNS LLC is compliant with the Can Spam Act of 2003. TNS LLC does not offer such advice or analysis, and TNS LLC further urges you to consult your own independent tax, business, financial and investment advisors. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled.
The Private Securities Litigation Reform Act of 1995 provides investors a ‘safe harbor’ in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be “forward looking statements”. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as “projects”, “foresee”, “expects”, “will”, “anticipates”, “estimates”, “believes”, “understands”, or that by statements indicating certain actions & quote; “may”, “could”, or “might” occur.
Understand there is no guarantee past performance will be indicative of future results. In preparing this publication, TNS LLC has relied upon information supplied by its customers, publicly available information and press releases which it believes to be reliable; however, such reliability cannot be guaranteed. Investors should not rely on the information contained in this website. Rather, investors should use the information contained in this website as a starting point for doing additional independent research on the featured companies. The advertisements in this website are believed to be reliable, however, TNS LLC and its owners, affiliates, subsidiaries, officers, directors, representatives and agents disclaim any liability as to the completeness or accuracy of the information contained in any advertisement and for any omissions of materials facts from such advertisement. TNS LLC is not responsible for any claims made by the companies advertised herein, nor is TNS LLC responsible for any other promotional firm, its program or its structure.