On 23 Jan 2020, Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) changed -3.63% to current value of $0.32. It identified trading -86.98% off 52-week high cost. On the other end, the stock has been noted 124.65% away from the low rate over the last 52-weeks.
Titan Pharmaceuticals, Inc. (TTNP) recently specified monetary outcomes for the 3rd quarter ended September 30, 2019 and supplied an upgrade on its company.
It spotted trading -86.98% off 52-week high price. On the other end, the stock has actually been noted 124.65% away from the low cost over the last 52-weeks.
Third Quarter 2019 Financial Results
For the three months ended September 30, 2019, Titan stated about $ 0.9 M in overall earnings, which show about $ 0.2 M in item profits and about $ 0.8 M of grant profits. This contrast with total earnings of about $ 1.7 M in the same duration in 2018. The decrease was primarily related to one-time payments in 2018 from license contracts related to Probuphine, which were partly offset by 2019 grant income.
Total operating costs for the third quarter of 2019 had to do with $ 4.8 M, contrast with about $ 3.6 M in the same quarter in 2018, and consisted mainly of research study and advancement (” R&D”) and selling, administrative and general (” SG&A”) expenditures and costs of items sold, inclusive of circulation costs.
R&D expenses for the third quarter of 2019 were about $ 1.6 M, contrast with about $ 1.9 M in the same quarter in 2018. The reduction was primarily Because of about $ 0.6 M of lower R&D expenses connected to Probuphine and about $ 0.2 M of lower costs associated with employee payment; partially balanced out by about $ 0.5 M of higher R&D expenses associated with the Nalmefene product development program, which were partially repaid under the NIDA grant.
SG&A costs for the 2019 third quarter were about $ 3.0 M, contrast with about $ 1.5 M in the very same quarter a year earlier. The increase in SG&An expenses for the 3 months ended September 30, 2019 was primarily attributable to boosts in employee-related expenses of about $ 0.5 M, expenses connected to seeking advice from, professional and outdoors services of about $ 0.8 M and costs associated with centers and travel of about $ 0.2 M.
Costs of products sold, which shows product costs and other circulation expenses related to sales of Probuphine, were about $ 0.2 M for both quarters ended September 30, 2019 and 2018.
Net other income was about $ 1.1 M for the three-month duration ended September 30, 2019, contrast with net other expenditure of about $ 0.1 M in the same quarter a year back. The increase was mostly attributable to an about $ 1.0 M non-cash gain on changes in the fair worth of warrants issued in connection with the August 2019 offering and an about $ 0.3 M non-cash gain on debt extinguishment connected with the modification of the Molteni convertible loan.
Bottom line suitable to regular investors in the 3rd quarter of 2019 had to do with $ 2.8 M, or about $ 0.18 per share, contrast with a net loss appropriate to normal investors of about $ 2.3 M, or about $ 0.64 per share, in the exact same quarter in 2018.
As of September 30, 2019, Titan had cash and cash equivalents of about $ 0.9 M. Titan believes that its money and money equivalents since September 30, 2019, together with the about $ 8.1 M of net cash proceeds from the public offering finished in October 2019, will be sufficient to money its operations into the 3rd quarter of 2020.
The cost moved ahead of 28.83% from the mean of 20 days, 60.82% from mean of 50 days SMA and performed -58.12% from mean of 200 days rate. Companys efficiency for the week was 21.29%, 102.93% for month and YTD performance remained 64.35%.