Exhibit 99.1
Titan Pharmaceuticals, Inc. |
FOR IMMEDIATE RELEASE
TITAN REPORTS FOURTH QUARTER 2010 FANAPT® ROYALTY
South San Francisco, CA February 3, 2011 Titan Pharmaceuticals, Inc. (TTNP.OB) today reported that the company expects to receive a royalty payment of approximately $409,000 on fourth quarter 2010 net sales of Fanapt (iloperidone) of approximately $5.1 million. Prescriptions for Fanapt continued a steady growth trend during the fourth quarter according to analyst reports which showed that the fourth quarter 2010 average weekly prescriptions increased to 1,876 from the third quarter 2010 average weekly prescriptions of 1,449.
About Titan Pharmaceuticals
For information concerning Titan Pharmaceuticals, Inc., please visit the Companys website at www.titanpharm.com.
The press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Companys development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Companys drug candidates, adverse side effects or inadequate therapeutic efficacy of the Companys drug candidates that could slow or prevent product development or commercialization, the uncertainty of patent protection for the Companys intellectual property or trade secrets, and the Companys ability to obtain additional financing. Such statements are based on managements current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
CONTACT:
Titan Pharmaceuticals, Inc.
Sunil Bhonsle
sbhonsle@titanpharm.com
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