Titan Pharma: Falls on wider quarterly loss

Titan Pharmaceuticals

16/11/2020 14:28

** Shares of drugmaker  TTNP.O  down 5% to 11 cents
premarket
    ** Co posts Q3 loss of ~$4.9 mln, compared with loss of
~$2.8 mln a year earlier  urn:newsml:reuters.com:*:nPn4gsJw1a
    ** TTNP posts net other expense of ~$0.3 mln in Q3, compared
with net other income of ~$1.1 mln a year earlier 
    ** Co says increase in expense was primarily due to ~$1.0
mln non-cash gain on changes in fair value of warrants issued in
connection with Titan's August 2019 offering 
    ** Co had cash and cash equivalents of ~$4.1 mln as of Sept.
30, which it believes, along with the proceeds of public
offering, is sufficient to fund planned operations into Q3 2021
    

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))