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Company Description

Contact Info

400 Oyster Point Boulevard

Suite 505

South San Francisco, CA 94080

United States

Phone: 650-244-4990

Fax: 650-244-4956

Titan Pharmaceuticals, Inc., a specialty pharmaceutical company, develops proprietary therapeutics for the treatment of serious medical disorders. The company’s product development programs utilize its proprietary long-term drug delivery platform, ProNeura, and focus primarily on treatments for select chronic diseases for which steady state delivery of a drug provides an efficacy and/or safety benefit. Product Pipeline Probuphine The company is developing Probuphine for the maintenance treatment of opioid dependence. Probuphine utilizes ProNeura, the company’s proprietary, long-term drug delivery platform. Upon subdermal insertion in a patient, Probuphine is designed to release medication continuously and maintain a stable, around the clock blood level of the drug buprenorphine, an approved agent for the treatment of opioid dependence. Probuphine is expected to provide six months of medication following a single treatment and is being developed for the maintenance treatment of opioid dependence in clinically stable patients who are receiving treatment with an oral formulation of buprenorphine at a dose of 8mg/day or less. The clinical development was completed in mid-2015 and the new drug application (NDA) submitted in late August 2015. The FDA organized a meeting of the PDAC to review and discuss the information contained in the NDA. The NDA is under review by the FDA with an action date of May 27, 2016. Pursuant to the license agreement with Braeburn Pharmaceuticals, Inc. (Braeburn), as amended to date, the company is entitled to receive a $15 million milestone payment upon FDA approval of the Probuphine NDA and royalties on net sales of Probuphine ranging in percentage from the mid-teens to the low twenties. Intellectual Property In 2010, the United States Patent and Trademark Office issued a patent covering methods of using Probuphine for the treatment of opiate addiction. The company is the owner of this patent which claims a method for treating opiate addiction with a subcutaneously implanted device comprising buprenorphine and ethylene-vinyl acetate, a biocompatible copolymer that releases buprenorphine continuously for extended periods of time. This patent would expire in June 2024. The company has filed additional patent applications for a heterogeneous implant designed with some unique properties that may provide benefits to the structural integrity of the implants and potentially enhance drug delivery. It hold sa license from Sanofi-Aventis under certain issued U.S. patents and certain issued foreign patents relating to iloperidone and its methods of use in the treatment of psychiatric disorders, psychotic disorders and analgesia. The term of the U.S. patent that covers certain aspects of its iloperidone product expires in October 2016, excluding a six month extension possible if an approval of pediatric indication is obtained. History Titan Pharmaceuticals, Inc. was founded in 1992.


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Valuation TTNP Industry Range
Price/Earnings 17.2x
Price/Sales 6.8x
Price/Book 6.0x
Price/Cash Flow 17.7x
TEV/Sales 5.8x

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