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Titan Pharmaceuticals, Inc. (TTNP)

Titan Pharmaceuticals, Inc., based in South San Francisco, CA, is a development stage company developing proprietary therapeutics with its ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes.

TTNP stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 6.59M 6.59M 6.59M 6.59M 6.59M 6.59M
Cash burn (monthly) 588K 257.92K 814K 781.5K 589K 672.83K
Cash used (since last report) 844.27K 370.33K 1.17M 1.12M 845.71K 966.08K
Cash remaining 5.74M 6.21M 5.42M 5.46M 5.74M 5.62M
Runway (months of cash) 9.8 24.1 6.7 7.0 9.7 8.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jul 22 Lazar David E. Common Stock, par value $0.001 Buy Acquire P No No 0.9929 744,294 739.01K 3,331,402
6 Jul 22 Lazar David E. Common Stock, par value $0.001 Buy Acquire P Yes No 0.8926 315,921 281.99K 359,066
6 Jul 22 Lazar David E. Common Stock, par value $0.001 Buy Acquire P No No 0.7735 1,165,975 901.88K 2,587,108
28 Jan 22 James R Mcnab Common Stock Other Acquire J Yes No 0 51,021 0 51,021
5 Jan 22 Marc Rubin Option to Purchase Common Stock Common Stock Grant Acquire A No No 1.18 65,000 76.7K 65,000
5 Jan 22 Katherine Beebe Option to Purchase Common Stock Common Stock Grant Acquire A No No 1.18 55,000 64.9K 55,000
14.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 25 26 -3.8%
Opened positions 3 7 -57.1%
Closed positions 4 8 -50.0%
Increased positions 5 4 +25.0%
Reduced positions 4 6 -33.3%
13F shares Current Prev Q Change
Total value 1.75M 2.3M -24.2%
Total shares 1.8M 2.26M -20.6%
Total puts 0 0
Total calls 13.6K 74.3K -81.7%
Total put/call ratio
Largest owners Shares Value Change
Armistice Capital 863.51K $826K NEW
L1 Capital Global Opportunities Master Fund 494.72K $505K 0.0%
Vanguard 206.43K $197K 0.0%
Group One Trading 58.9K $56K +31.6%
Geode Capital Management 53.05K $50K 0.0%
BCS Barclays 50.05K $48K NEW
Renaissance Technologies 36.51K $35K +87.1%
Millennium Management 10.23K $10K -49.3%
Tower Research Capital 10.04K $10K +9462.9%
UBS UBS Group AG - Registered Shares 7.12K $7K +87.5%
Largest transactions Shares Bought/sold Change
Armistice Capital 863.51K +863.51K NEW
Empery Asset Management 0 -860.45K EXIT
Sabby Management 0 -494.72K EXIT
BCS Barclays 50.05K +50.05K NEW
Susquehanna International 0 -38.93K EXIT
Renaissance Technologies 36.51K +17K +87.1%
VIRT Virtu Financial 0 -15.42K EXIT
Group One Trading 58.9K +14.15K +31.6%
Millennium Management 10.23K -9.94K -49.3%
Tower Research Capital 10.04K +9.94K +9462.9%

Financial report summary

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Competition
GSKMedicinovaUcbReckitt BenckiserAlkermesAbbvie
Risks
  • Our ProNeura development programs are at very early stages and will require substantial additional resources that may not be available to us.
  • Our net operating losses and research and development tax credits may not be available to reduce future federal and state income tax payments.
  • Our share price may be volatile, which could prevent you from being able to sell your shares at or above your purchase price.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of our company, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
Management Discussion
  • Item 7.    Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • We are a pharmaceutical company developing therapeutics utilizing our proprietary long-term drug delivery platform, ProNeura®, for the treatment of select chronic diseases for which steady state delivery of a drug has the potential to provide an efficacy and/or safety benefit. ProNeura consists of a small, solid implant made from a mixture of ethylene-vinyl acetate, or EVA, and a drug substance. The resulting product is a solid matrix that is designed to be administered subdermally in a brief, outpatient procedure and is removed in a similar manner at the end of the treatment period. These procedures may be performed by trained health care providers, or HCPs, including licensed and surgically qualified physicians, nurse practitioners, and physician’s assistants in a HCP’s office or other clinical setting.
  • Our first product based on our ProNeura technology was Probuphine® (buprenorphine implant), which is approved in the United States, Canada and the European Union, or EU, for the maintenance treatment of opioid use disorder in clinically stable patients taking 8 mg or less a day of oral buprenorphine. While Probuphine continues to be commercialized in Canada and in the EU (as Sixmo™) by other companies that have either licensed or acquired the rights from Titan, we discontinued commercialization of the product in the U.S. during the fourth quarter of 2020 to focus our limited resources on our product development programs.

Content analysis

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