Titan Pharmaceuticals Inc (TTNP)

[Doctor Detroit]

Congratulations on the new house! That's awesome, and you totally made the right decision. Nothing is guaranteed on this one, and by selling you can actually say you've profited on Titan (my paper profits could go up in smoke in a heartbeat after all).

I think if I ran Braeburn I would buy Titan. And so I've speculated before that Braeburn will buy them, because I blindly assume they think like me. But I'm a little crazy, and they are not. I will guarantee you the people that run Braeburn don't invest in OTCBB stocks (like Titan was when I bought in). They are also playing with other people's money, and so if they make a mistake they are out of a job. I don't think they are comfortable with the risk of a flop, otherwise they would have bought it already (they could of had it for a song a year ago). So I think they will probably take a wait and see approach, realizing it will take years to reach peak sales. Plus, Braeburn seems to be more interested in partnering with companies that have drugs pretty close to approval. Buying Titan now is buying ProNeura...promising as all hell, but neither Parks or T3 is even in Phase I yet.

My optimism in Titan long-term is unabated. I think probuphine will be a success (and more importantly save lives), but its clearer to me now that the real story is the delivery mechanism. ProNeura is pretty revolutionary, and the talk today of partnering with other pharma's with patented drugs that could benefit from ProNeura is really exciting.

I think we will get a pop on approval (PLEASE GOD!), and then continue to increase by about 50% above the closing price on the date of approval as institutions buy in. There will be a natural retrenchment and the price will drop as we are no longer the flavor of the month, and there will be new buying opportunities. Then it comes down to sales and events (ROW deal, new partnerships, Parks, T3, chronic pain). Plenty of spikes and drama, and plenty of chances to buy in.

Somebody much bigger than Braeburn might fall in love with ProNeura and buy Titan out at any time. But I don't think it will be Braeburn.