Titan Pharmaceuticals Reports Reduced Net Loss and Increased Assets for Q2 2025

Titan Pharmaceuticals, Inc. reported a net loss of approximately $689,000, or $0.65 per share, for the three months ended June 30, 2025, a significant reduction from a net loss of $2.1 million, or $2.29 per share, during the same period in 2024. For the six months ending June 30, 2025, the company recorded a net loss of $1.3 million, compared to a loss of $3.2 million in the prior year. The decrease in losses is attributed to a substantial reduction in operating expenses, which fell to $657,000 in the second quarter of 2025 from $2.1 million in the same quarter of 2024, primarily due to lower personnel-related costs.

In terms of financial position, Titan's total assets increased to $3.1 million as of June 30, 2025, up from $2.9 million at the end of 2024. The company's cash balance stood at approximately $2.8 million, which management believes is sufficient to fund operations through the second quarter of 2026. The company’s stockholders’ equity also improved to $2.8 million from $2.4 million at the end of the previous fiscal year, reflecting a strategic focus on enhancing shareholder value.

Strategically, Titan has undergone significant organizational changes, including the sale of its ProNeura assets to Fedson, Inc. for $2 million in September 2023. This sale included the company's drug addiction product portfolio and allowed Titan to concentrate on product development. Additionally, the company has engaged in financing activities, including the issuance of Series AA Preferred Stock to Sire for $9.5 million and Series B and C Preferred Stock to Blue Harbour, raising a total of $1.6 million. These transactions are part of Titan's broader strategy to explore potential mergers and acquisitions to enhance its market position.

Operationally, Titan has made notable changes to its management structure, with Seow Gim Shen appointed as CEO in April 2024, following a series of executive resignations. The company is currently pursuing a merger with TalenTec Sdn. Bhd., which, if approved, will result in Titan becoming a wholly-owned subsidiary of Black Titan Corporation. The merger is subject to stockholder approval and other customary conditions, with a special meeting scheduled for August 26, 2025, to discuss the proposal.

Looking ahead, Titan Pharmaceuticals is focused on maintaining compliance with Nasdaq listing requirements and exploring additional financing and strategic alternatives. The company has expressed confidence in its ability to navigate the current market conditions and achieve its operational goals, although it acknowledges the inherent risks and uncertainties associated with its forward-looking statements.