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American pharmaceutical company
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.3 Its shares trade on NASDAQ under the symbol TTNP.1Wikipedia text CC BY-SA 4.0
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. 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.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $184.0K in revenue.8 The company lost money this year.
Financial statements
Revenue9101112138$184.0K in 2023−97% since 2018Operating income14101112138-$7.3M in 2023−12% since 2018Net income14101112138-$5.6M in 2023−38% since 2018
Operating income1516-$657.0K in Q2 FY2025+23% since Q1 FY2025Net income1516-$689.0K in Q2 FY2025+22% since Q1 FY2025
Total assets14101112138$8.1M in 2023−43% since 2018Total liabilities14101112138$1.4M in 2023−80% since 2018Shareholders’ equity101112138$6.6M in 2023−3% since 2018Cash14101112138$6.8M in 2023−27% since 2018Long-term debt141011$0 in 2021
Total assets1516$3.1M in Q2 FY2025+4% since Q1 FY2024Total liabilities1516$263.0K in Q2 FY2025−46% since Q1 FY2024Shareholders’ equity1516$2.8M in Q2 FY2025+14% since Q1 FY2024Cash1516$2.8M in Q2 FY2025−1% since Q1 FY2024
Cash from operations14101112138-$7.1M in 2023−16% since 2018Capital spending141011128$2.0K in 2023−100% since 2018Free cash flow141011128-$7.1M in 2023−20% since 2018
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Titan Pharmaceuticals sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Titan Pharmaceuticals
Sire Group Ltd.Filed SC 13D/A on Titan Pharmaceuticals, latest Aug 21, 2024 (3 filings since Oct 4, 2023)
Choon Hau Choong Filed SC 13D on Titan Pharmaceuticals, latest Jul 21, 2023
Activist Investing LLCFiled SC 13D/A on Titan Pharmaceuticals, latest Jun 23, 2023 (6 filings since Apr 25, 2022)
Titan PharmaceuticalsSouth San Francisco, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Titan Pharmaceuticals reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We do not own or lease any physical office space. We maintain a mailing address in New York, New York. All of our contractors and consultants work remotely, and we believe this arrangement is presently adequate to meet the Company’s operational needs.
Aug 31, 2006New chief executive Sunil Bhonsle becomes CEO21
Aug 31, 2006New chief executive Louis R. Bucalo Md. becomes CEO20
Filings
182 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 57 major events, 40 insider forms, 13 large holders, 1 private raises, 55 other. The latest 20:
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Private offerings the company reported to the SEC on Form D.
Feb 4, 2022Raised $1.5 million in a private offering of securitiesForm D: $7 million offered in allForm D
SEC filer profile
How Titan Pharmaceuticals is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Mar 20, 2025 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Titan Pharmaceuticals names in Item 1A of its 10-K filed Mar 20, 2025: 17 risks under these headings, as written.17
If we cannot continue to satisfy the Nasdaq Capital Market continued listing standards and other Nasdaq rules, our common stock could be delisted, which would harm our business, the trading price of our common stock, our ability to raise additional capital and the liquidity of the market for our common stock.
We identified a material weakness in our internal control over financial reporting as of December 31, 2023 and this or other material weaknesses could continue to materially impair our ability to report accurate financial information in a timely manner.
If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner or prevent fraud, which would adversely affect investor confidence in our company and harm our business.
Titan has incurred, and will continue to incur, significant transaction and transition costs in connection with the Merger.
If the conditions to the Merger Agreement are not met, the Merger may not occur.
Since Titan’s officers and directors have interests that are different, or in addition to (and which may conflict with), the interests of the Titan stockholders, a conflict of interest may have existed in determining whether the Merger is appropriate.
There are risks to the Titan stockholders becoming shareholders of BSKE through the Merger rather than acquiring securities of TalenTec directly in an underwritten public offering, including no independent due diligence review by an underwriter and conflicts of interest of the Titan officers and directors.
The exercise of our Board’s discretion in agreeing to changes or waivers in the terms of the Merger Agreement and related agreements, including closing conditions, may result in a conflict of interest when determining whether such changes to the terms or waivers of conditions are appropriate and in the Titan stockholders’ best interest.
Titan may issue notes or other debt securities, or otherwise incur substantial debt, to complete the Merger, which may adversely affect Titan’s leverage and financial condition and thus negatively impact the value of Titan stockholders’ investments.
Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect Titan’s business, including its ability to negotiate and complete the Merger, and results of operations.
Legal proceedings in connection with the Merger, the outcomes of which are uncertain, could delay or prevent the completion of the Merger.
The ordinary shares of BSKE to be received by Titan stockholders as a result of the Merger will have different rights from shares of Titan common stock.
The other 5 risks
The Merger is with a company located outside of the United States, and the laws applicable to such company will likely govern all material agreements related to TalenTec, and as a result Titan may not be able to enforce its legal rights under United States law.
We may be obligated to purchase outstanding warrants in connection with the Merger.
The tax consequences of the Merger may adversely affect holders of our common stock or warrants.
Titan has incurred net losses in almost every year since its inception, which losses will continue for the foreseeable future and raise substantial doubt about its ability to continue as a going concern.
We currently do not have a full-time CFO. This lack of senior leadership raises serious doubts about ability to continue to run our Company effectively.
Legal proceedings
In 2020, a legal proceeding was initiated against us by a former employee alleging wrongful termination, retaliation, infliction of emotional distress, negligent supervision, hiring and retention and slander. An independent investigation into this individual’s allegations of whistleblower retaliation, while still an employee, was conducted utilizing an outside investigator and concluded that such allegations were not substantiated. In September 2023, Fedson, as consideration for the Asset Purchase Agreement, agreed to assume all liabilities related to this pending employment claim (see Note 5. Asset Sale).
