| Titan Pharmaceuticals, Inc. | |
| Type: | Public |
| Traded As: | NASDAQ: |
| Location: | California |
| Num Employees: | 14 (Nov 2018) |
| Industry: | Pharmaceuticals |
| Revenue: | $1.7 million [1] |
| Assets: | $8.4 million |
Titan Pharmaceuticals, Inc. is a biopharmaceutical company based in San Francisco, CA, developing proprietary therapeutics primarily for treating central nervous system ("CNS") disorders. In September 2018, Titan Pharmaceuticals underwent an IPO wherein it raised $9.5 million in gross proceeds.[2] In the same month, it also posted approximately $1.7 million in revenue, in large part drawn from its licensing for its European intellectual property rights for Probuphine to the Italian pharmaceutical company Molteni - a leading European opioid manufacturer and also a subsidiary of the German Pharmaceutical juggernaut Merck Group.[1] [3]
Titan's principal asset is Probuphine,[4] a slow-release implant formulation of buprenorphine for the treatment of opioid addiction or chronic pain. FDA Approval was granted on 26 May 2016.[5] It was licensed to Braeburn Pharmaceuticals for marketing and commercialization.[4]
As of its November 14th earnings call, Titan Pharmaceuticals is on track to commercialize its opioid addiction solution at a valuation between $75 and $100 million.[6]