Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders.
On September 18, 2020, Titan Pharmaceuticals, Inc. held a special meeting of stockholders for the sole purpose of seeking approval of a proposal to amend our certificate of incorporation to increase the number of authorized shares of common stock from 125 million to 225 million (the “Amendment”).
The Amendment required the favorable vote of a majority of our outstanding shares of common stock as of May 22, 2020, the record date for the special meeting (the “Record Date”). On the Record Date, there were 95,660,355 shares of common stock outstanding, and under Delaware law the affirmative vote of holders of at least 47,830,178 shares was required to implement the Amendment. Stockholders approved the Amendment and it will be filed with the Secretary of State of the State of Delaware. The total number of shares voted was 66,832,201 and the voting results were as follows:
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.