Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Files An 8-K Other Events

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Files An 8-K Other Events
Item 8.01. Other Events

On September 18, 2019, Titan Pharmaceuticals, Inc. (the “Company”) announced that the National Institutes of Health’s National Institute on Drug Abuse (NIDA) has approved approximately $6.1 million in second-year funding for the Company’s non-clinical development of a ProNeura™ based six-month implantable formulation of Nalmefene, an opioid antagonist, intended for the prevention of relapse to opioid addiction following opioid detoxification. NIDA awarded the Company a two-year grant in the amount of $6.7 million in September 2018 for the project, subject to satisfactory project progress, fund availability and certain other conditions. The award for the first year, which ended August 31, 2019, was approximately $2.7 million. As a result of a change in the grant award terms regarding company matching funds, the second-year award covers both the federal and company match amounts of the original year two award, thereby increasing the aggregate potential expense reimbursement to approximately $8.7 million.

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is filed herewith:

EX-99.1 2 tv529588_ex99-1.htm EXHIBIT 99.1   Exhibit 99.1   TITAN RECEIVES APPROVAL FOR SECOND YEAR OF NIDA GRANT FUNDING FOR DEVELOPMENT OF A NALMEFENE IMPLANT   Changes in Grant Terms Result in Additional $2 Million Available to Titan for Nalmefene Project Expenses   SOUTH SAN FRANCISCO,…
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About Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)

Titan Pharmaceuticals, Inc. (Titan) is a specialty pharmaceutical company. The Company is engaged in developing therapeutics for the treatment of medical disorders. The Company’s segment is engaged in the development of pharmaceutical products. The Company’s product development programs utilize its long-term drug delivery platform, ProNeura. The Company’s drug candidate, Probuphine, is being developed for the long-term maintenance treatment of opioid dependence. Titan’s ProNeura continuous drug delivery system consists of a small, solid rod made from a mixture of ethylene-vinyl acetate (EVA) and a drug substance. The Company focuses on developing two product development programs, the first one with a ropinirole implant for the treatment of Parkinson’s disease (PD) and the second one with a Triiodothyronine (T3) implant for the treatment of hypothyroidism.

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