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Titan limps to Probuphine NDA with royalty trade and debt restructuring

This article was originally published in Scrip

Executive Summary

Titan Pharmaceuticals explicitly pointed out during its 15 November quarterly earnings results that it had cash and cash equivalents of about $2.8 million at 30 September, as it readies an NDA submission with the US FDA for its lead candidate, Probuphine (buprenorphine in an ethylene-vinyl acetate rod), for opioid dependence, and seeks to interest a potential partner. The company’s cash crunch has been partly alleviated by news that it has entered into a $15 million royalty sale agreement with Deerfield Management.

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