Titan Pharmaceuticals Inc (TTNP)

[Doctor Detroit]

Braeburn Presentation

I went through it in detail last night, and it convinces me I am correct to ignore the stock price for the next few months. Traders are going to trade, and shorters are going to short, so let them. I'm happy.

In the June 7th Jefferies presentation, Braeburn has gone on record in writing to the world that:

1. There are currently 825,000 patients in the US taking buprenorphine (from presentation).

2. 47% of those patients have stabilized at 8mg or less (from PDAC meeting). That means 387,000 people are on 8mg or less.

3. At page 30 of the Presentation, Braeburn is estimating a 15.7% market share based on interviews with 150 buprenorphine prescribing physicians.


Applying those numbers....

1. 15.7% of 387,000 = 58,100.

2. 58,100 x $4,950 (price) x 2 (treatment cycles) = 575 million

3. Chronic pain market, long term, is just as large according to the Braeburn presentation. So double sales to 1.150 billion.

4. #'s above excludes the effect of doubling patient prescription limits and ROW sales.