Titan Pharmaceuticals (TTNP) Stock Climbs on Acquisition News

Titan Pharmaceuticals TTNP Stock News

Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) is screaming for the top in the market this morning while the overall stock market is taking a major hit. The gains come after the comapny announced an acquisition. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

TTNP Stock Is Up Big on Acquisition News

In the press release, Titan Pharmaceuticals said that it entered into a definitive asset purchase agreement with JT Pharmaceuticals. The Agreement surrounds the acquisition of JT Pharma’s kappa opiod agonist peptide known as JT-09. The treatment is being developed for use in combination with Titan’s ProNeura long-term, continuous drug delivery technology. The treatment’s development specifically focuses on the treatment of chronic pruritus.

TTNP said that as part of the agreement, JT Pharma will be entitled to receive future milestone payments as well as single-digit percentage earn-out payments on net sales of the product.

In a statement, Dr. Kate DeVarney, President and COO at TTNP, had the following to offer:

Current treatments for moderate to severe chronic pruritus, a debilitating condition characterized by itching of the skin lasting longer than six weeks, are relatively ineffective and are associated with undesirable side-effects. Our early non-clinical data suggest that subcutaneous implantation of JT-09 ProNeura implants could potentially deliver therapeutic concentrations of JT-09 for six months or longer, and we are looking forward to conducting additional preclinical studies to establish proof-of-concept with data available in the first half of 2021.

This Is Big News

The news released by Titan Pharmaceuticals this morning proved to be overwhelmingly positive. At the moment, the chronic pruritus market is a massive and growing one, with experts suggesting that it will be worth more than $16 billion annually by the year 2025.

Should TTNP brong JT-09 to market, it has the potential to tap into a dramatically large market, only expanding the intrinsic value of the company. All in all, there’s a good reason for investor excitement surrounding TTNP stock this morning.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don't MIss the Next Big Story

Join our free mailing list below to receive real-time news alerts!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.