Titan Pharmaceuticals, Inc. (TTNP) stock surged 2.87% in the current market trading session at the price of $1.09 despite no fundamental reason.
TTNP is a developmental stage firm located in San Francisco. The company develops and commercializes proprietary therapeutics through its ProNeura drug delivery technology. The ProNeura technology produces drugs to treat several chronic disorders, consistent blood levels of medicine can benefit the patients by improving medical results.
TTNP to Investigate Strategic Alternatives
On 21st December 2021, TTNP reported that it had initiated a process to investigate and assess strategic alternatives to improve shareholder value. The company has employed Maxim Group LLC as its financial advisor to administer the process. Possible strategic options for this process include a merger, acquisition, reverse merger, sales of assets, licensing, or other transactions. There is, however, no guarantee that this process will result in any deals or transactions. TTNP does not want to publicize developments concerning this process until the completion of the evaluation.
TTNP Published Data About TP-2021 Implant
On 8th November 2021, TTNP published favorable results from its in vivo study of TP-2021 ProNeura-based implant in a 5′-guanidinonaltrindole mouse model. The presentation was delivered by Ben Land, Research Assistant Professor at the Pharmacology Department, University of Washington, at the Society for Neuroscience Meeting 2021. As previously informed, a low dose of TP-2021 implants had shown anti-pruritic results for over 15 days in this model.
Chief Operating Officer of TTNP, Kate Beebe DeVarney, remarked that TP-2021 ProNeura implants could retain supra-therapeutic levels for a long time based on the potency. They are looking forward to achieving higher efficacy and durability in the upcoming months.
Executive Chairman of TTNP, Marc Rubin, stated that the single dose of TP-2021 implant offers a viable solution to treat chronic pruritus associated with liver, kidney and other skin diseases. Demonstration of the efficacy to treat other pruritic indications, like atopic dermatitis, has yet not been achieved. A single administration of TP-2021 can potentially minimize the need of regular oral administration, he added.