Titan Pharmaceuticals (TTNP) Stock Gains On Federal Agreement

Titan Pharmaceuticals TTNP Stock News

Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) is rocketing in the market this morning, trading on gains of around 20% early on. The gains come after the company announced a Federal supply agreement. Here’s what’s happening:

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TTNP Stock Runs Up On Federal Supply Agreement

In a press release issued this morning, Titan Pharmaceuticals said that it has signed an important new agreement. The agreement will put Probuphine implants on the Federal Supply Schedule.

As a result of the new agreement, TTNP said that United States veterans and other federal government agencies will have access to the company’s novel 6-month maintenance treatment for Opioid Use Disorder.

As a result of the contract, more than 9 million VA beneficiaries and others within the federal system will now have access to the product. In a statement, Dane Hallberg, Executive Vice President and Chief Commercial Officer at TTNP, had the following to offer:

This agreement further extends the commercial reach of Probuphine to eligible patients suffering from OUD. Titan is committed to helping those who serve and have served our country, and it is our hope that, through this agreement, we can make a positive impact on the lives of veterans affected by this epidemic.

This News Changes The Game

For Titan Pharmaceuticals and its investors, this news is massive. Think about it, 9 million patients will now have access to Probuphine. This has the potential to lead to dramatic gains in sales.

Think about it, not only does the company now have access to 9 million new patients, many of these patients are likely to have a need for the product. Due to the incredible strain that our service men and women put on their bodies, along with the dangers that they are put in on duty, many service members have been prescribed and have bcome dependent on opioid drugs.

So, not only does TTNP have a vast new audience to address, a large portion of this audience is likely to have a medical need for the product.

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