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Friday, December 3, 2010

Titan Presents Probuphine Data

From The New VFC's Stock House, Dated Wednesday, November 17th.

An early morning PR on Wednesday announced that Katherine Beebe, Ph.D., a Senior Vice President of Titan Pharmaceuticals, had presented positive data from the ongoing Probuphine Phase III program this week a the annual meeting of the Society for Neuroscience.

Titan Pharmaceuticals has received increased attention of late, partly due to the increasing sales being realized by Vanda Pharmaceuticals' Fanapt. Fanpat is a schizophrenia drug that has been on the market since earlier this year for which Titan receives between an 8-10% royalty of sales. When Fanapt was approved last year, shares of Titan flew from mere pennies to a high of well over two dollars before retreating to the current levels.

While Fanapt is succeeding at recognizing revenue for Titan at a growing rate, the real bread and butter of the company could be Probuphine, a treatment for opioid addiction that has already proven to be safe and effective in previous trials.

Probuphine utilizes Titan's ProNeura drug delivery technology, a subcutaneous implant that delivers a drug - in this case buprenorphine - into the body in a safe and controlled manner for six months. Titan recently announced the completion of patient enrollment in the ongoing confirmatory Phase III trial which is partly funded by NIH grants, and it is expected that results will be available early next year.

The presentation at the Society for Neuroscience Annual Meeting is another positive event in the increasing awareness of Titan's potential, and it's expected that if Probuphine makes it to market, Titan could become a big player in the market for opioid addiction, and eventually pain management.

That said, with the Fanapt revenue stream already coming in and with Probuphine possibly a year away from market, I still think that this company will be bought out before it's all said and done. TTNP already provided investors with a treat on the run from pennies to dollars, and while trading for close to a buck right now, more rewards could be in the works.

Disclosure: Long TTNP.

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