BioCentury
ARTICLE | Financial News

Titan proposes to raise up to $12 million

August 30, 2014 12:23 AM UTC

Titan Pharmaceuticals Inc. (OTCBB:TTNP) proposed to raise up to $12 million through the sale of units in a follow-on underwritten by Roth Capital Partners. Each unit comprises a share and a warrant to purchase a share.

Titan's Probuphine buprenorphine is in a Phase III trial to treat opioid dependence that is designed to address questions from FDA in a 2013 complete response letter for Probuphine. The company and U.S. commercialization partner Braeburn Pharmaceuticals S.p.r.l. (Princeton, N.J.) plan to resubmit an NDA to FDA for the mu opioid receptor agonist by the end of 2015. ...