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TTNP: Do either of the Merger firms make Monkey Pox stuff, or maybe better Monkeys themselves so they don't get that infection in the first place!!!??? (Is there a HUMAN POX, which OTHER animals have to worry about contracting???????)
TTNP under $10
Titan Pharmaceuticals Announces Reverse Stock Split and Ratio
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SOUTH SAN FRANCISCO, Calif., Dec. 28, 2023 (GLOBE NEWSWIRE) -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“Titan” or the “Company”) today announced that its Board of Directors has approved a 1-for-20 reverse stock split of the Company's common stock, which will be effective following the filing of an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Amendment”).
The Company's stockholders approved the reverse stock split at a Special Meeting of Stockholders on December 27, 2023. The Company’s shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market following the filing of the Amendment, which is intended go effective on January 9, 2024.
As a result of the reverse split, each 20 shares of the Company's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock, par value $0.001 per share.
The Company will not issue any fractional shares in connection with the reverse stock split. Instead, the number of shares will be rounded up to the next whole number. The reverse stock split will not modify the rights or preferences of the common stock.
Immediately after the reverse split becomes effective, there will be approximately 781,503 shares of common stock issued and outstanding. The common shares will trade under a new CUSIP number, 888314705, and continue to trade under the symbol “TTNP.” All stock options and warrants of the Company outstanding immediately prior to the reverse stock split will be proportionally adjusted.
The Company has appointed its transfer agent, Continental Stock Transfer & Trust Company (“Continental”), to act as exchange agent for the reverse stock split.
Stockholders owning shares via a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split and will not be required to take further action in connection with the reverse stock split, subject to brokers' particular processes.
Continental can be reached at (212) 509-4000.
TTNP new 52 week low
TTNP new 52 week low
UNVEILING TITAN PHARMACEUTICALS (TTNP)'s VALUE: IS IT REALLY PRICED RIGHT? A COMPREHENSIVE GUIDE
By GuruFocus Research-August 28, 2023
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Titan Pharmaceuticals Inc (NASDAQ:TTNP) experienced a loss of -8.52% in its daily trading and a 3-month loss of -30.01%. With a Loss Per Share of $0.57, the question arises: is the stock significantly overvalued? This article seeks to explore this valuation question by providing an in-depth analysis. Let's dive in.
Company Introduction
* Warning! GuruFocus has detected 7 Warning Signs with TTNP. Click here to check it out.
* TTNP 30-Year Financial Data
* The intrinsic value of TTNP
Titan Pharmaceuticals Inc is a pharmaceutical company that develops therapeutics utilizing its proprietary long-term drug delivery platform, ProNeura. This platform is used for the treatment of select chronic diseases where steady state delivery of a drug provides efficacy and/or safety benefits.
The company's first product based on ProNeura technology, the Probuphine (buprenorphine) implant, has been approved in the United States, Canada, and the European Union for the maintenance treatment of opioid use disorder in clinically stable patients taking 8 mg or less a day of oral buprenorphine.
At a price of $0.5 per share, Titan Pharmaceuticals (NASDAQ:TTNP) has a market cap of $7.60 million. However, the GF Value, an estimation of its fair value, stands at $0.01, indicating that the stock may be
significantly overvalued.
Understanding GF Value
The GF Value represents the current intrinsic value of a stock, derived from our proprietary method. This value is calculated based on historical multiples, GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance. In the case of Titan Pharmaceuticals (NASDAQ:TTNP), the stock appears to be significantly overvalued based on the GF Value calculation.
Because Titan Pharmaceuticals (NASDAQ:TTNP) is significantly overvalued, the long-term return of its stock is likely to be much lower than its future business growth.
Financial Strength
Investing in companies with poor financial strength carries a higher risk of permanent loss of capital. It's essential to review a company's financial strength before deciding whether to buy its stock. Titan Pharmaceuticals has a cash-to-debt ratio of 0.82, which is worse than 81.53% of companies in the Biotechnology industry. This indicates that the financial strength of Titan Pharmaceuticals is poor.
Profitability and Growth
Companies that have been consistently profitable over the long term offer less risk for investors. Titan Pharmaceuticals has been profitable 2 over the past 10 years. However, its operating margin is -15248.21%, which ranks worse than 92.93% of companies in the Biotechnology industry, indicating poor profitability.
Growth is a crucial factor in the valuation of a company. Titan Pharmaceuticals's 3-year average revenue growth rate is worse than 98.95% of companies in the Biotechnology industry. However, its 3-year average EBITDA growth rate is 55%, which ranks better than 92.63% of companies in the industry.
ROIC vs WACC
Comparing a company's return on invested capital (ROIC) and the weighted cost of capital (WACC) is another way to assess its profitability. For the past 12 months, Titan Pharmaceuticals's ROIC is -669.31, and its WACC is 12.15.
Conclusion
In conclusion, the stock of Titan Pharmaceuticals (NASDAQ:TTNP) appears to be significantly overvalued. The company's financial condition is poor, and its profitability is weak. However, its growth ranks better than 92.63% of companies in the Biotechnology industry.
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Subsequent Events
We have evaluated events that have occurred after June 30, 2023 and through the date that our condensed financial statements are issued.
In July 2023, we entered into an asset purchase agreement, or the Asset Purchase Agreement, with Fedson for the sale of certain ProNeura assets including our portfolio of drug addiction products, in addition to other early development programs based on the ProNeura drug delivery technology, or ProNeura Assets.
Our addiction portfolio consists of the Probuphine and Nalmefene implant programs. The ProNeura Assets constitute only a portion of our assets.
Under the terms of the Asset Purchase Agreement, Fedson will purchase the ProNeura Assets for an upfront purchase price of $2 million ($1 million at closing, $1 million to be held in escrow pending completion of certain conditions) with potential milestone payments to us of up to $50 million on future net sales of the products.
We will also receive certain royalties on future net sales of the products. As further consideration, Fedson will assume all liabilities related to a pending employment claim against us. The transaction is expected to close shortly following the signing of the Asset Purchase Agreement, subject to the satisfaction of customary closing conditions.
In July 2023, we received $250,000 in funding in exchange for the issuance of an unsecured promissory note for that principal amount to David E. Lazar, our Chief Executive Officer and chairman of our Board of Directors (the “Lazar Promissory Note”). Pursuant to the Lazar Promissory Note, the principal amount will accrue interest at a rate of the Prime Rate + 2.00% per annum, and all principal and accrued interest will be due and payable on the earlier of January 1, 2024 or such time as we receive debt or equity financing or proceeds in excess of $500,000 from the aforementioned transaction with Fedson.
In July 2023, we granted, pursuant to our Fifth Amended and Restated 2015 Omnibus Equity Incentive Plan, and as approved by our Board of Directors, an aggregate of 450,000 shares of fully vested unrestricted common stock to six members of the Board of Directors and one member of the management team.
In August 2023, we received $500,000 in funding in exchange for the issuance of a convertible promissory note for that principal amount to Choong Choon Hau (the “Hau Promissory Note”). Pursuant to the Hau Promissory Note, the principal amount will accrue interest at a rate of 10% per annum and will be payable monthly.
All principal and accrued interest shall be due and payable on January 1, 2024, unless extended as provided.
All or part of the Hau Promissory Note can be converted into our common stock at a conversion price of $0.5287 per share from time to time following the issuance date and ending on the maturity date.
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DEA EXTENDS TELEMEDICINE OPTION FOR PRESCRIBING CONTROLLED MEDICATION
By Arielle Zionts July 03, 2023
ARTICLE
Telehealth rules, which were created during the pandemic, allowed for the prescribing of controlled substances without an in-person visit, will stay in place until November 11.
Federal regulators want most patients to see a health care provider in person before receiving prescriptions for potentially addictive medicines through telehealth — something that hasn’t been required in more than three years.
During the COVID-19 public health emergency, the Drug Enforcement Administration allowed doctors and other health care providers to prescribe controlled medicine during telehealth appointments without examining the patient in person. The emergency declaration ended May 13, and in February, the agency proposed new rules that would require providers to see patients at least once in person before prescribing many of those drugs during telehealth visits.
Controlled medications include many stimulants, sedatives, opioid painkillers, and anabolic steroids.
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A FIRST-OF-ITS-KIND TRIAL STUDIES THE USE OF INJECTABLE BUPRENORPHINE TO TREAT METHAMPHETAMINE USE DISORDER AND OPIOD CO-USE
JUNE 28, 2023
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OAKLAND, Calif., June 28, 2023 /PRNewswire/ -- Investigators at Alameda Health System's (AHS) Bridge Clinic are participating in a new, six-city trial of injectable buprenorphine for the treatment of methamphetamine use disorder in adults who also use opioids. This is the first study to investigate the drug's efficacy in treating the two co-addictions simultaneously.
"People who use methamphetamine are involved in over half of all overdose deaths and there is a desperate need to find effective treatments for this patient population," said Erik Anderson, MD, principal investigator at AHS and Associate Medical Director of the Bridge Program. "Many patients use opioids in addition to methamphetamine, and examining treatment options for people using multiple substances is particularly important."
While buprenorphine has been used to treat opioid use disorder since 2002, there are currently no FDA-approved treatments for methamphetamine use disorder or methamphetamine use disorder together with opioid co-use.
The first-of-its-kind trial, available locally at AHS's Bridge Clinic at the Wilma Chan Highland Hospital Campus in Oakland, CA, is a 12-week randomized, double-blind, placebo-controlled study. The Bridge Clinic hopes to enroll 41 of the 246 participants to be recruited nationwide over the next two years.
The study is designated for those with moderate to severe methamphetamine use disorder coupled with mild opioid use disorder or opioid misuse. It is funded by the National Institute on Drug Abuse, part of the National Institutes of Health, and the Helping to End Addiction Long-term (HEAL) Initiative.
"Using buprenorphine as a treatment for methamphetamine use disorder and opioid co-use is a promising option for this high-risk patient population. Our hope is that the extended-release buprenorphine formulation will help patients use less methamphetamine and improve their quality of life," said Anderson.
To be considered for the study, participants must be seeking treatment for methamphetamine use disorder and opioid co-use, be 18-65 in age, and be able to attend twice-weekly outpatient clinic visits. The trial evaluates patients with twice-weekly urine drug screens as well as self-reported frequency of methamphetamine and opioid co-use.
In addition to AHS's Bridge Clinic, participating institutions include: University of Texas Southwestern Medical Center, University of California Los Angeles, Comprehensive Options for Drug Addiction (CODA), Oklahoma State University Center for Health Sciences, and the University of Washington Harborview Medical Center.
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