Titan Pharmaceuticals (NASDAQ:TTNP) stock identified change of -24.71% away from 52-week low price and recently located move of -86.23% off 52-week high price. It has market worth of $10.27M. TTNP stock has been recorded -38.71% away from 50 day moving average and -52.42% away from 200 day moving average. Moving closer, we can see that shares have been trading -33.30% off 20-day moving average.
On Aug. 7, 2019, Titan Pharmaceuticals (NASDAQ:TTNP) disclosed it has entered into a securities purchase agreement with a single accredited institutional investor to purchase approximately $2.1 million of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) in a registered direct offering and warrants to purchase shares of common stock in a concurrent private placement. The combined purchase price for one share of common stock and each warrant will be $0.75.
Under the terms of the purchase agreement, Titan has agreed to sell 2,852,314 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof). In a concurrent private placement, Titan has agreed to issue warrants to purchase up to an aggregate of 2,852,314 shares of common stock. The warrants will be exercisable for a period of five years commencing six months from the date of issuance and have an exercise price of $1.07 per share.
The Company expects the net proceeds from the registered direct offering and concurrent private placement to be approximately $1.83 million after deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering and concurrent private placement is expected to close on or about August 9, 2019, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
The Healthcare sector company, Titan Pharmaceuticals noticed change of -27.38% to $0.78 along volume of 990058 shares in recent session compared to an average volume of 266.12K. The stock observed return of -30.00% in 5 days trading activity. The stock was at -40.23% over one month performance. TTNP’s shares are at -52.91% for the quarter and driving a -86.07% return over the course of the past year and is now at -41.93% since this point in 2018.
The average volatility for the week at 9.20% and for month was at 6.02%. There are 13.22M shares outstanding and 12.93M shares are floated in market. Right now the stock beta is 1.05.
Mark Fife – Category – Business
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