Titan Pharmaceuticals, Inc. (OTCBB:TTNP) Can go Anywhere
In the end of the past week Titan Pharmaceuticals, Inc. (OTCBB:TTNP) came out with a press release which informed investors of a scheduled conference call for Friday, November 15, 2013 to discuss the Q3 financial results of the company.
This led to an increase in price during the first 2 sessions of this week and some heightened investor attention. The ticker gained more than a quarter in value over Monday’s and Tuesday’s sessions on below average volumes.
Yesterday’s gain was estimated at 18.63% and TTNP are closing in on the $1 mark after they closed the session with a price of $0.949 per share. The total amount of shares that switched hands came at 640 thousand and generated $585 thousand in dollar volume.
Today’s news, however, were somewhat discouraging and we reckon that we might be witnessing a serious correction in the stock’s price movement very soon, if not by the end of this session. After today’s market open the stock of TTNP dropped and is down a little over 5% in price.
This is due to the announcement that the company acquired $5 million financing for their Probuphine® subdermal implant used for the maintenance treatment of opioid dependance. Under the agreement TTNP will issue 6.25 million shares of its common stock to Braeburn Pharmaceuticals Sprl, which might cause dilution considering the outstanding number of shares is estimated at 82 million.
In any case be sure yo do a lot of due diligence and weigh out the risks if you have any thoughts of investing in TTNP.
VaxGen, Inc. (OTCMKTS:DDX) on the other hands had a disastrous trade session yesterday as it went 54% down in price on a very high volume of traded stock. PV Enterprises International, Inc. (OTCMKTS:VDSC)’s session, on the other hand, went extremely well and their stock climbed 58% in price.