Titan Pharmaceuticals, Inc. (OTC: TTNP) Remains in Loss Despite Increase in Revenue Proceeds

Las Vegas, NV -- (SBWIRE) -- 03/15/2013 -- Titan Pharmaceuticals, Inc. (OTC: TTNP) announced the financial results of the fourth quarter that ended on 31st December, 2012.

Titan Pharmaceuticals revenues for the year 2012 were approximately $7.1 million as compared to revenues of $4.11 million in 2011. Total operating expenses in 2012 were $15.5 million while they were $14.6 million in 2011. These expenses consisted mainly of research and development expense which were $10.6 million. In 2011, these expenses were $11.2 million. Other expenses for the year 2012 were $6.8 million and in 2011, they were $4.7 million.

The net loss to the common stockholders in 2012 was $15.2 million with $0.23 per share. In 2011, the net loss was $15.2 million at $0.26 per share. Titan believes that they will gain sufficient amounts in the coming future with the assistance from FDA’s reimbursement of $2 million filing fee.

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