Titan Pharmaceuticals Inc (TTNP)

[TRUISM]

For the three months ended June 30, 2018, Titan reported approximately $2.7 million in revenue, compared with approximately $77,000 in the same period in 2017.

Revenues for the second quarter of 2018 reflect approximately $0.5 million related to the amortization of deferred revenue related to the sale to L. Molteni & C. Dei Frattelli Alitti Società Di Esercizio S.P.A. ("Molteni") of the European intellectual property rights to Probuphine in March 2018, $7,000 related to the recognition of royalties earned on net sales of Probuphine by Braeburn (BBRX) prior to the termination of the Braeburn license, approximately $2.1 million related to terms of the license termination agreement, and $75,000 generated from Titan's own sales of Probuphine after the return of the Braeburn license.




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