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TTNP

Titan Pharmaceuticals, Inc.

TTNP

Titan Pharmaceuticals, Inc. • NASDAQ
$3.08 ▼ -1.48% (-0.05)
Market Cap $4.10 M
52w High $15.15
52w Low $2.82
Dividend Yield 0%
P/E -0.95
Volume 719
Outstanding Shares 1.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $657K ▲ $-689K ▼ 0% $-0.65 ▼ $-657K ▼
Q1-2025 $0 ▼ $534K ▼ $-563K ▲ 0% ▲ $-0.62 ▲ $-534K ▲
Q4-2024 $10K ▲ $666K ▼ $-790K ▼ -7.9K% ▼ $-0.88 ▼ $-666K ▲
Q3-2024 $0 $754K ▼ $-763K ▲ 0% $-0.83 ▲ $-754K ▲
Q2-2024 $0 $2.074M $-2.093M 0% $-2.29 $-2.071M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $2.803M ▲ $3.051M ▲ $263K ▼ $2.788M ▲
Q1-2025 $1.945M ▼ $2.156M ▼ $279K ▼ $1.877M ▼
Q4-2024 $2.831M ▼ $2.923M ▼ $483K ▲ $2.44M ▼
Q3-2024 $3.399M ▼ $3.602M ▼ $371K ▲ $3.231M ▼
Q2-2024 $4.092M $4.35M $356K $3.994M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-689K ▼ $-680K ▲ $0 $1.538M ▲ $858K ▲ $-680K ▲
Q1-2025 $-563K ▲ $-867K ▼ $0 $-19K ▲ $-886K ▼ $-867K ▼
Q4-2024 $-790K ▼ $-506K ▲ $0 $-62K ▼ $-568K ▲ $-506K ▲
Q3-2024 $-763K ▲ $-693K ▲ $0 $0 $-693K ▲ $-693K ▲
Q2-2024 $-2.093M $-2.068M $0 $0 $-2.067M $-2.068M

Revenue by Products

Product Q1-2023Q2-2023Q3-2023Q4-2023
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲
License and Service
License and Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The income picture shows a company with essentially no operating revenue in recent years and recurring losses. Earnings per share have been negative every year, reflecting ongoing costs without offsetting sales. The operating structure looks very lean, but even modest expenses are not being covered by income. Overall, the income statement suggests a business that has not been generating commercial traction as a standalone operating company and has been relying on other sources, such as financings or transactions, rather than ongoing sales.

Balance Sheet

Balance Sheet The balance sheet appears extremely light, with only a small base of assets and equity and no meaningful debt. That means there is little financial leverage, which reduces the risk from lenders, but it also highlights how limited the resource base is. Cash and total assets are both very modest, leaving only a thin cushion to fund operations or new projects. This is more characteristic of a micro-scale or transitioning entity than a fully built-out operating biotech or tech platform.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, indicating the business consumes cash rather than generating it. There is effectively no spending on physical assets, so the cash burn is tied mainly to running the business and any development or corporate costs. Given the small cash balances, the company has likely needed periodic external funding or corporate actions to stay liquid. Sustainability of operations depends heavily on continued access to capital or on the success of the new combined business following the merger.

Competitive Edge

Competitive Edge Historically, Titan’s competitive position came from its specialized drug-delivery technology and related intellectual property. However, product commercialization struggled, key addiction-related assets were sold, and the company has since gone through a reverse merger that shifts the focus away from pharmaceuticals toward human capital management solutions in Asia. This is a dramatic repositioning. The legacy biotech edge may now be non-core, while the new business must compete in a crowded, software and services-driven market where brand, product fit, and execution are critical. The combination of a legacy biotech shell and a new operating business makes the competitive picture complex and heavily dependent on the merged entity’s strategy and execution.

Innovation and R&D

Innovation and R&D Titan’s main innovation was the ProNeura long-acting implant platform, which offered clear medical advantages in steady, long-term drug delivery. That technology underpinned products like Probuphine and a small pipeline, and it was supported by patents and know-how. However, addiction-related ProNeura assets were sold, commercialization was wound down, and there have been few recent signs of active pharmaceutical development inside the current structure. The reverse merger effectively shifts innovation focus away from biotech R&D toward software and human capital management solutions, an area where the historic Titan R&D capabilities are less directly relevant. Any remaining value from ProNeura will likely depend on licensing, sale, or selective development by third parties rather than by Titan itself.

Summary

Overall, the data portray a company that has largely exited its original biotech path, carries very limited financial resources, and has not generated ongoing revenue from operations in recent years. The merger into a new entity changes the story from drug-delivery innovation to a human capital management business, with the old Titan becoming more of a legacy or subsidiary piece. Financially, the profile is that of a very small, loss-making entity reliant on external funding and corporate transactions, rather than one sustained by its own cash generation. Strategically, the future now depends far more on the new parent company’s business model, execution, and integration efforts than on Titan’s historical pharmaceutical assets. Uncertainty is high on both the financial and strategic fronts, and the situation is best viewed as a transformation story rather than a mature, stable operating business.

NEWS

October 3, 2025 · 5:26 PM UTC

Titan Pharmaceuticals, Inc. Announces Closing of Merger with Black Titan Corporation

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