Titan Pharmaceuticals Inc (TTNP)

[Doctor Detroit]

Well, define "the future." Looking in my crystal ball, I see that when (if) probuphine is approved, there will be a lot of interest in Titan, but that will be mitigated by its OTC status and the fact that a lot of folks who bought in at less than a dollar will be selling as well. I think $2 to $2.50 is likely after approval.

Soon after approval we should get uplisted to Nasdaq, which may not do much for investor interest, but it will end the OTCBB trading nonsense to which we've all become accustomed. EU marketing deals for probuphine will solidify the base, and perhaps continue to drive the price up.

Thereafter, price will be affected by (a) sales numbers for probuphine (and royalties to TTNP), (b) whether Braeburn decides to immediately go for an sNDA for probuphine/chronic pain, (c) the initiation (and trial design) for Pro Neura for Parkinsons (they are using the 505(b)(2) pathway which could mean a Phase I/II that would lead directly to Phase III trials) and (d) the mystery drug alluded to in the conference call, which they claimed would be in "the clinic" (i.e., Phase I/II) two or three quarters after Pro Neura for Parkinson's is initiated.

If, during 2016, Titan is uplisted to a real exchange, initial probuphine sales meet expectations (which are low in my opinion), Braeburn commences a Phase III for chronic pain and Titan commences a Phase I/II for Pro Neura for Parkinsons...then I believe the PPS will be over $5.00.