Titan Pharmaceuticals Inc (TTNP)

[Serenity3]

May 14th date is pretty precise.. agree all parties expect something to happen by that time, but Horizon is insisting on their money being returned even if equity has to be raised.. on the one hand one can infer Horizon is limiting their exposure to TTNP & securing that 3 million on the table w/ a lien on TTNP's intellectual property, though the conditions for lifting that lien are not unreasonable and a pretty low bar... on the other hand one can infer that TTNP is limiting their cash burn in terms of reduced interest payments by prepaying that exorbitantly high interest loan, without a pre-payment penalty .. seemed like a pretty fair negotiation