Titan Pharmaceuticals Inc. (TTNP) stock prices were down by 2.78% as of the market closing on October 22nd, 2021. This brought the price per share down to USD$1.75 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 13.1429%, bringing it up to USD$1.98.
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Gates Foundation Funding
October 25th 2021 saw TTNP stock announce having received funding from the Bill and Melinda Gates Foundation. The funding aims to support the demonstration of the company’s potential to deliver a human immunodeficiency virus (HIV) preventative therapeutic. The single implant will also serve as a contraceptive, making use of the company’s proprietary ProNeura technology. The funding from the Gates’ Foundation will also facilitate the accessibility of this technology for women and adolescent girls in low- and middle-income countries.
Scope of ProNeura Platform
With the rampant nature of HIV in less fortunate parts of the world, this technology has the potential to have a substantial positive affect on the health of women and adolescent girls in low- and middle-income countries. With contraceptives also lacking in these parts of the world, TTNP stock’s efforts could serve to change the course of the futures of entire countries. The company is confident that its ProNeura platform is uniquely situated to the program. This belief is based on the past demonstration of the feasibility of long-term delivery of two pharmaceutically active ingredients from a single implant. This demonstration stems from an earlier development program that the company engaged in. the continuous long-term delivery of a contraceptive/antiviral combination will be a massive turnaround point for public health in developing nations, as compared to the daily dosing of multiple compounds.
About TTNP Stock
TTNP stock is based out of South San Francisco, California. The company is a developmental stage pharmaceutical that focuses on the development of proprietary therapeutics. These therapeutics are developed with the leveraging of its ProNeura long term, continuous drug delivery technology, which has the potential to be used to develop products for the treatment of a myriad of chronic conditions.
Future Outlook for TTNP Stock
The company is poised to capitalize on the expanded scope of opportunities afforded to it as a result of the funding it has received. TTNP stock is taking steps to ensure it maintains the momentum it has generated in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.