Titan Pharma: Tumbles on registered direct offering

Titan Pharmaceuticals

24/09/2020 14:28

** Drugmaker's shares  TTNP.O  fall ~11% to $0.16 premarket
    ** Co offers about 19.4 mln common shares in registered
direct offering priced at $0.14/shr; expects to raise net
proceeds of ~$2.5 mln  urn:newsml:reuters.com:*:nPn1669Xka
    ** Offering size represents nearly 20% company's outstanding
shares
    ** Company has market value of $18.4 mln - Refinitiv data
    ** Up to Wednesday's close, TTNP had shed 5.2% this year

 (Reporting By Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))