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news.Titan Pharmaceuticals has reported total revenues of $2.73m for the fourth quarter ended 31 December 2010, compared to 27,000 for the same period in 2009.
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The company posted a net loss of $4.3m, compared to a net loss of $1.47m for the same period in 2009.
Titan Pharma’s loss from operations was $3.98m, as compare to the loss from operations of $1.4m for the same period prior year.
For the full year ended 31 December 2010, the company posted total revenue of $10.09m, compared to 79,000 for the same period in 2009.
Titan Pharma has reported net loss of $6.83m, compared to $5.89m for the same period in 2009.
The company’s loss from operations was $6.03m for the full year ended 31 December 2010, as compared to $5.82m for the same period last year.
Titan Pharma executive chairman Marc Rubin said the recent financing also emphasizes their commitment to the Probuphine program and their goal of enhancing value while minimizing shareholder dilution.
"This year, we are also focusing on the potential commercialization of Probuphine, working towards establishing appropriate partnerships to maximize Probuphine’s promise in the treatment of opioid addiction," Rubin said.