Titan Pharmaceuticals Inc (TTNP)

[Doctor Detroit]

Hey Turks, happy new year.

Not sure about sales. It's a pricing issue and insurance coverage issue more than anything else. Make it cheaper and more people will buy and more insurance companies will cover. Braeburn's reps aren't even averaging one implant per quarter, and that can't all be on the reps.
They have a flawed strategy.

Just a guess, but the first press of the year will probably be to announce that a license agreement with Molteni has been signed based on the binding term sheet. That will come with the payment of a $2.4 million upfront license fee. Per the term sheet, it should happen prior to February 15, 2018.

Also in the late first quarter, we should get news on the first co-hort of patients in the parkinson’s trial.

Other than that, in the absence of an unexpected partnership (Australia/Asia probuphine license or out-license parkinson’s/T3/diabetes), I think the first quarter could be pretty slow, but I expect something of a bounce back from these crazy price levels.

My guess is the second quarter will be more interesting. We should get news of Health Canada’s approval of probuphine (application was accepted in June 2016) which is likely to involve an upfront payment from Knight to Braeburn (with Titan getting its royalty on that payment).
There is an outside chance that EU Approval could occur in late 2Q 18, but more likely in 3Q. Another $2.4 million from Molteni on EU approval.