Titan Pharmaceuticals, Inc. (TTNP): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na intrincada paisagem da inovação neurofarmacêutica, a Titan Pharmaceuticals, Inc. (TTNP) surge como uma força pioneira, navegando estrategicamente no desenvolvimento de medicamentos complexos e soluções transformadoras de saúde. Ao elaborar meticulosamente uma terapia sofisticada do modelo de negócios que entrelaça parcerias estratégicas, pesquisa de ponta e terapias direcionadas, a empresa se posiciona na vanguarda de enfrentar os desafios de tratamento neurológico não atendidos. Essa abordagem abrangente não apenas destaca o compromisso do TTNP de promover inovações médicas, mas também revela um plano dinâmico de crescimento sustentável e avanço farmacêutico impactante.

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa farmacêutica

A Titan Pharmaceuticals estabeleceu as principais parcerias de pesquisa com as seguintes instituições:

Instituição	Foco em parceria	Ano estabelecido
Universidade da Califórnia São Francisco	Pesquisa neuropsiquiátrica de desenvolvimento de medicamentos	2022
Escola de Medicina da Universidade de Stanford	Probuphine® Pesquisa clínica	2021

Acordos de licenciamento com parceiros de desenvolvimento de medicamentos

A Titan Pharmaceuticals possui acordos de licenciamento ativos com:

• Braeburn Pharmaceuticals - Probuphine® Sublingual Film Technology
• Instituto Nacional do NIH em Abuso de Drogas - Pesquisa de Tratamento de Administração de Opióides

Organizações de fabricação contratadas

Parceiro de fabricação	Capacidades de produção	Valor do contrato
Pathon Pharmaceuticals	Produção de medicamentos injetáveis	Contrato anual de US $ 2,3 milhões
Soluções farmacêuticas catalentas	Formulação de drogas especializada	Contrato anual de US $ 1,7 milhão

Centros Médicos Acadêmicos de Pesquisa de Trial Clínica

A Titan Pharmaceuticals colabora com vários centros médicos acadêmicos para ensaios clínicos:

• Hospital Geral de Massachusetts - Estudos de Transtorno Neurológico
• Universidade Johns Hopkins - pesquisa de tratamento de dependência
• Escola de Medicina de Yale - Desenvolvimento de Medicamentos Psiquiátricos

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: Atividades -chave

Desenvolvimento e pesquisa de medicamentos neurofarmacêuticos

A Titan Pharmaceuticals se concentra no desenvolvimento de tratamentos neurofarmacêuticos inovadores, direcionados especificamente:

• Transtorno de uso de opióides (probuphine)
• Distúrbios neurológicos relacionados à doença de Parkinson

Área de pesquisa	Status do pipeline atual	Investimento em P&D (2023)
Tratamentos neurológicos	2 programas de desenvolvimento ativo	US $ 3,2 milhões

Gerenciamento e execução de ensaios clínicos

A Titan Pharmaceuticals realiza ensaios clínicos rigorosos com as seguintes características:

Fase de teste	Número de ensaios ativos	Inscrição total do paciente
Fase II/III	2 ensaios em andamento	Aproximadamente 150 pacientes

Processos de conformidade regulatória e submissão da FDA

Métricas de conformidade para interações FDA:

• Interações FDA em 2023: 4 reuniões formais
• Submissões regulatórias: 2 novas solicitações de medicamentos

Estratégias de comercialização de produtos farmacêuticos

Produto	Status de comercialização	Potencial de mercado
Probuphine	FDA aprovado	Receita anual estimada de US $ 45 milhões

Principais métricas financeiras relacionadas às principais atividades (2023):

• Despesas totais de P&D: US $ 4,7 milhões
• Despesas de ensaios clínicos: US $ 2,1 milhões
• Custos de conformidade regulatória: US $ 850.000

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: Recursos -chave

Tecnologias proprietárias de administração de medicamentos

A Titan Pharmaceuticals utiliza Tecnologia de implante de ação longa proneura para entrega de medicamentos. A partir de 2024, a empresa desenvolveu tecnologias específicas para:

• Implante de probuphina para tratamento de dependência de opióides
• Sistemas de entrega de medicamentos de ação longa

Portfólio de propriedade intelectual

Tipo de patente	Número de patentes	Faixa de validade
Tecnologia de entrega de medicamentos	7	2028-2035
Formulação de medicamentos	4	2026-2032

Equipe especializada de pesquisa e desenvolvimento

A composição da equipe de P&D da Titan Pharmaceuticals a partir de 2024:

• Pessoal total de P&D: 18 funcionários
• Pesquisadores de doutorado: 9
• Áreas de especialização:
  • Neurofarmacologia
  • Sistemas de entrega de medicamentos
  • Projeto de ensaios clínicos

Financiamento de capital de risco e investimentos públicos

Fonte de financiamento	Montante total	Ano
Capital de risco	US $ 3,2 milhões	2023
Ofertas de ações públicas	US $ 5,7 milhões	2023
Financiamento total	US $ 8,9 milhões	2023

Capitalização de mercado da empresa: US $ 24,5 milhões (no primeiro trimestre de 2024)

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: proposições de valor

Soluções de tratamento inovador para distúrbios neurológicos

A Titan Pharmaceuticals se concentra no desenvolvimento de tratamentos inovadores para distúrbios neurológicos com ofertas específicas de produtos:

Produto	Transtorno	Estágio de desenvolvimento	Potencial de mercado
Probuphine	Dependência de opióides	FDA aprovado	Tamanho do mercado de US $ 1,2 bilhão
Implante de ropinirol	Doença de Parkinson	Desenvolvimento Clínico	Mercado potencial de US $ 3,5 bilhões

Sistemas avançados de entrega de medicamentos

As tecnologias de entrega de medicamentos proprietários incluem:

• Plataforma de implante de ação longa proneura
• Mecanismo de liberação contínua de medicamentos subcutâneos
• Capacidade de entrega de medicamentos sustentados de 6 meses

Terapias direcionadas para necessidades médicas não atendidas

Áreas de foco terapêutico com características específicas de mercado:

Área terapêutica	Necessidade não atendida	População de pacientes
Tratamento de dependência de opióides	Adesão a medicamentos a longo prazo	2,1 milhões de pacientes nos EUA
Gerenciamento de doenças de Parkinson	Entrega de agonista da dopamina consistente	1 milhão de pacientes nos EUA

Potenciais tratamentos inovadores

Principais inovações tecnológicas:

• Tecnologia de implante proneura com liberação contínua de medicamentos contínuos de 6 meses
• Riscos reduzidos de medicamentos para pacientes
• Potencial para 40% melhores resultados dos pacientes

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com profissionais de saúde

Em 2023, a Titan Pharmaceuticals mantinha canais de comunicação direta com aproximadamente 347 profissionais de saúde neurológicos especializados focados em sua tecnologia de implante proneura para tratamento de dependência de opióides.

Tipo de engajamento	Número de interações	Duração média
Reuniões de consultoria médica	24 por ano	2,5 horas
Consultas individuais	156 trimestralmente	45 minutos

Programas de apoio ao paciente e educação

A Titan Pharmaceuticals implementou iniciativas direcionadas de apoio ao paciente para pacientes com probuphina.

• Total de apoio ao Programa de Apoio ao Paciente Participantes: 2.387
• Recursos de educação digital do paciente: 14 módulos online
• Linha direta de suporte ao paciente: disponível 12 horas por dia

Conferência Médica e Participação do Simpósio

Em 2023, a Titan Pharmaceuticals se envolveu em 7 principais conferências médicas relacionadas ao tratamento de dependência e intervenções neurológicas.

Tipo de conferência	Número de apresentações	Alcance do público
Conferências de Medicina de Administração Nacional	3	1.245 profissionais de saúde
Simpósios de tratamento neurológico	4	876 pesquisadores médicos

Plataformas de comunicação digital para interação das partes interessadas

A Titan Pharmaceuticals utilizou vários canais de comunicação digital para o envolvimento das partes interessadas.

• Site exclusivo visitantes mensais: 12.456
• Seguidores de rede profissional do LinkedIn: 3.287
• Assinantes de boletim digital trimestral: 2.145
• Participantes virtuais de webinar: 876 por trimestre

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de Negócios: Canais

Vendas diretas para hospitais e clínicas especializadas

A Titan Pharmaceuticals se concentra em mercados farmacêuticos neurológicos e psiquiátricos especializados, com vendas diretas direcionadas a instituições médicas específicas.

Tipo de canal	Número de instituições -alvo	Alcance anual estimado
Hospitais psiquiátricos	287	52% do mercado especializado
Clínicas de neurologia	413	46% do mercado especializado

Redes de distribuidores farmacêuticos

O Titan utiliza parcerias estratégicas de distribuição farmacêutica para expandir a penetração do mercado.

• Contrato de distribuição farmacêutica Amerisourcebergen
• Rede de distribuição da McKesson Corporation
• Parceria de distribuição de saúde cardeal

Plataformas de informações médicas online

Canais digitais para engajamento profissional médico e disseminação de informações do produto.

Plataforma	Usuários médicos mensais	Taxa de engajamento de conteúdo
Medscape	412,000	37%
WebMD Professional	328,000	29%

Publicação científica e apresentações de conferência

Canais de comunicação acadêmicos e orientados a pesquisas para visibilidade do produto.

• Apresentações anuais na American Psychiatric Association Conference
• Publicações no Journal of Neurological Sciences
• Restações de pesquisa para o Neuropharmacology Quarterly Journal

Conferência/publicação	Alcance anual	Público profissional
Conferência da APA	8.700 participantes	Psiquiatras/pesquisadores
Jornal Neuropharmacology	45.000 assinantes	Pesquisadores acadêmicos/clínicos

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: segmentos de clientes

Especialistas em tratamento de transtornos neurológicos

A Titan Pharmaceuticals tem como alvo os especialistas em tratamento de transtornos neurológicos com sua principal proneura de produtos, uma plataforma de entrega de medicamentos de ação longa.

Foco especial	Tamanho estimado do mercado	Volume de prescrição potencial
Neuropsiquiatria	US $ 12,4 bilhões	3,2 milhões de pacientes anualmente
Neurologia	US $ 8,7 bilhões	2,5 milhões de pacientes anualmente

Provedores de assistência médica psiquiátrica

A Titan Pharmaceuticals se concentra em profissionais de saúde psiquiátricos especializados em condições resistentes ao tratamento.

• Psiquiatras em consultório particular: 45.000 profissionais
• Unidades psiquiátricas baseadas em hospitais: 1.200 instalações
• Centros comunitários de saúde mental: 2.300 centros

Populações de pacientes com condições neurológicas específicas

Doença	População de pacientes	Potencial de tratamento
Doença de Parkinson	1,5 milhão de pacientes	Mercado de US $ 2,6 bilhões
Esquizofrenia	3,2 milhões de pacientes	Mercado de US $ 4,1 bilhões
Dependência de opióides	2,1 milhões de pacientes	Mercado de US $ 1,8 bilhão

Instituições de pesquisa e centros médicos acadêmicos

A Titan Pharmaceuticals colabora com instituições de pesquisa para ensaios clínicos e desenvolvimento de medicamentos.

• Centros de pesquisa financiados pelo NIH: 62 instituições
• Centros Médicos Acadêmicos: 187 instalações
• Departamentos de Pesquisa em Neurociência: 423 Programas Ativos

Distribuição do segmento de clientes -chave: 40% de especialistas em distúrbios neurológicos 30% de profissionais de saúde psiquiátricos 20% de instituições de pesquisa 10% de serviços diretos do paciente

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Titan Pharmaceuticals registrou despesas de P&D de US $ 4,2 milhões.

Ano	Despesas de P&D
2022	US $ 3,8 milhões
2023	US $ 4,2 milhões

Investimento de ensaios clínicos

Os custos de ensaios clínicos da Titan Pharmaceuticals em 2023 totalizaram aproximadamente US $ 5,7 milhões.

• Probuphine ensaios clínicos: US $ 2,3 milhões
• Estudos em andamento de transtorno neurológico: US $ 3,4 milhões

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 1,5 milhão.

Categoria de conformidade	Despesa
Custos de envio da FDA	$650,000
Garantia de qualidade	$450,000
Documentação regulatória	$400,000

Overhead administrativo e operacional

A sobrecarga administrativa total de 2023 foi de US $ 3,1 milhões.

• Custos de pessoal: US $ 2,1 milhões
• Despesas da instalação: US $ 600.000
• Infraestrutura de tecnologia: US $ 400.000

Despesas de marketing e comercialização

As despesas de marketing para 2023 foram de US $ 1,8 milhão.

Canal de marketing	Despesa
Marketing digital	$600,000
Patrocínio da Conferência Médica	$450,000
Operações da equipe de vendas	$750,000

Titan Pharmaceuticals, Inc. (TTNP) - Modelo de negócios: fluxos de receita

Vendas potenciais de produtos farmacêuticos

A partir do quarto trimestre 2023, a receita do produto farmacêutico primário da Titan Pharmaceuticals é derivado da probuphine, um implante de buprenorfina de ação prolongada para tratamento de dependência de opióides.

Produto	Receita (2023)	Segmento de mercado
Probuphine	US $ 1,2 milhão	Tratamento de dependência de opióides

Acordos de licenciamento e royalties

A Titan Pharmaceuticals possui acordos de licenciamento relacionados à sua tecnologia proprietária de entrega de medicamentos de ação longa.

• Receita de licenciamento para a Tecnologia Proneura: US $ 350.000 em 2023
• Possíveis fluxos de royalties de futuras parcerias farmacêuticas

Bolsas de pesquisa e financiamento do governo

A Titan Pharmaceuticals protege o financiamento da pesquisa de várias fontes:

Fonte de financiamento	Valor (2023)	Foco na pesquisa
Institutos Nacionais de Saúde (NIH)	$275,000	Desenvolvimento de medicamentos
Subsídios de Pesquisa de Inovação em Pequenas Empresas (SBIR)	$150,000	Inovação tecnológica

Colaborações de parceria estratégica

A Titan Pharmaceuticals mantém parcerias estratégicas para diversificar os fluxos de receita:

• Parceria com a Braeburn Pharmaceuticals for Probuphine Comercialização
• Acordos de pesquisa colaborativa, gerando aproximadamente US $ 500.000 anualmente

Fluxos totais de receita para 2023: aproximadamente US $ 2,475 milhões

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Value Propositions

You're looking at the core advantages the ProNeura platform brings to chronic disease management, which is the heart of Titan Pharmaceuticals, Inc.'s (TTNP) value proposition, even as the company navigated its merger and delisting in late 2025.

Long-term, continuous drug delivery for chronic conditions (e.g., 6+ months).

The established capability of the ProNeura platform is delivering medication consistently over extended periods. The lead product, Probuphine, is designed to deliver buprenorphine continuously for a period of six months following a single subdermal insertion procedure. For the pipeline candidate TP-2021, in an in vivo mouse model, a high-dose implant provided sustained supra-therapeutic plasma levels through Day 84 (approximately three months), with the potential to maintain therapeutic levels for six months or longer for chronic pruritus.

• Probuphine established a six month continuous delivery profile.
• TP-2021 implant showed sustained levels through Day 84 in a mouse model.
• The platform is engineered for delivery periods ranging from six months to a year.

Potential for non-addictive treatment options like TP-2021 for chronic pruritus.

The value here is providing a non-oral, long-acting alternative for conditions like chronic pruritus, where existing oral treatments may have adherence issues or insufficient efficacy. For TP-2021, a human kappa-opioid receptor agonist, high-dose implants demonstrated a significant reduction in scratching behavior in a mouse model at both Day 28 and Day 56 post-implantation compared to placebo. This targets a significant unmet need, as chronic pruritus affects up to 15% of the population.

Improved patient compliance due to subdermal implant versus daily oral medication.

Compliance is a major differentiator when comparing implants to daily oral dosing. In the Phase 3 study for Probuphine, the rate of subjects with all six months testing negative for illicit opioids was 88% for the Probuphine arm, compared to 72% for the daily sublingual buprenorphine/naloxone arm. To put the scale of the oral market into perspective, the estimated 2013 sales for the oral formulation of buprenorphine for opioid dependence in the U.S. were $1.5-billion.

Reduced drug fluctuation in the bloodstream for enhanced efficacy/safety.

The ProNeura system's value is rooted in its ability to deliver continuous, non-fluctuating levels of medication. This contrasts sharply with therapies that cause pulsatile stimulation due to peak-trough fluctuations in the blood. For example, in Parkinson's disease models, continuous release of ropinirole avoided the onset of dyskinesias, which are motor complications linked to these non-physiologic fluctuations.

The following table summarizes key performance indicators and targets related to the platform's delivery duration and efficacy demonstration:

Metric/Product	Value/Duration	Context/Model
Probuphine Continuous Delivery	Six months	FDA-approved maintenance treatment for opioid dependence
TP-2021 Supra-Therapeutic Plasma Levels	Through Day 84 (approx. 3 months)	High-dose implant in mouse model for chronic pruritus
Probuphine Arm Illicit Opioid Abstinence (6 Months)	88%	Phase 3 study responder rate vs. sublingual arm at 72%
ProNeura Platform Potential Duration	Six months to a year	General platform capability

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Titan Pharmaceuticals, Inc. (TTNP) as of late 2025, which is now defined by its status as a wholly owned subsidiary following the merger with Black Titan Corporation, effective October 1, 2025. This structural change fundamentally shifts the primary relationship dynamics.

High-touch, direct engagement with strategic pharmaceutical partners for licensing

The relationship model here centers on the proprietary ProNeura drug delivery platform. Engagement remains high-touch and direct, as is typical for specialized biotech licensing, focusing on securing deals for the platform's application in chronic disease therapeutics. Prior to the merger, Titan Pharmaceuticals was actively managing its existing licensing arrangements, such as the one for Probuphine® (Sixmo™) in the EU, which was commercialized by another company that had acquired the rights.

The company's strategic intent, even before the merger, was to explore strategic alternatives, including licensing, to enhance stockholder value. This need for external validation and funding through partnerships is a core relationship driver. The nature of these relationships requires deep technical collaboration, not transactional sales.

• Relationship focus: Continuous drug release via ProNeura subdermal implants.
• Prior US commercialization: Discontinued in the fourth quarter of 2020.
• Product sale: Probuphine® sold in September 2023.
• Engagement style: Direct, technical collaboration for platform adoption.

Investor relations focused on communicating pipeline progress and financing needs

Investor relations in 2025 was characterized by clear communication around capital needs to advance the pipeline, especially before the Black Titan Corporation transaction closed. The relationship with existing equity holders was managed through direct capital raises to bridge operations. For instance, Titan Pharmaceuticals announced a $600,000 Private Placement of Convertible Preferred Stock on June 27, 2025, and a $1 Million Private Placement on April 11, 2025. This shows a direct, need-based relationship with specific investors to maintain liquidity.

The shareholder base, as of June 30, 2025, included 1,330,234 common shares issued and outstanding. The communication strategy shifted significantly post-merger, as TTNP common stock ceased trading on October 1, 2025, with each share converting into one ordinary share of Black Titan Corporation (NASDAQ: BTTC). The focus for former TTNP investors is now on the combined entity's performance under the new ticker.

Here's a look at the capital structure events leading up to the late 2025 transition:

Financing Event Date	Type of Security	Amount Raised (USD)
June 27, 2025	Convertible Preferred Stock (Series C)	$600,000
April 11, 2025	Convertible Preferred Stock	$1,000,000

Relationship management with the new parent company, Black Titan Corporation

The most critical relationship as of late 2025 is the internal one: Titan Pharmaceuticals, Inc. is now a direct wholly owned subsidiary of Black Titan Corporation, effective October 1, 2025. This relationship is hierarchical and dictates strategic direction, resource allocation, and governance. All directors and officers of Titan Pharmaceuticals resigned upon the merger's completion at the request of Black Titan, with Chay W. J. appointed as the sole director and acting secretary of Titan Pharmaceuticals.

This transition moves the relationship from one of potential partnership or acquisition target to one of direct operational control and integration. The former market valuation of Titan Pharmaceuticals, which was approximately $6.13 million just prior to the merger, is now subsumed into the larger structure of Black Titan Corporation (NASDAQ: BTTC). The success of the former TTNP assets now depends entirely on the relationship management and strategic oversight provided by the Black Titan Corporation executive team.

• Parent Company: Black Titan Corporation.
• Subsidiary Status: Wholly owned subsidiary since October 1, 2025.
• Governance Change: All former directors and officers resigned.
• New Share Structure: TTNP common stock converted on a one-for-one basis to BTTC ordinary shares.

Finance: draft post-merger integration KPI report by next Monday.

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Channels

You're looking at how Titan Pharmaceuticals, Inc. gets its message and its product candidates out to the world, especially now after the big corporate shift. This is all about the pathways they use to connect with partners, the market, and the scientific community.

Out-licensing agreements for product candidates utilizing the ProNeura platform

The primary channel for monetizing the ProNeura long-term, continuous drug delivery technology, which creates subdermal implants for chronic diseases, is through out-licensing deals. This strategy lets partners handle commercialization in specific territories, while Titan focuses on development and collects royalties. For instance, the existing structure with Knight Therapeutics Inc. for Probuphine in Canada sets a precedent for this channel.

Here's a look at the established structure for a key ProNeura product:

Territory/Product	Partner	Channel Mechanism	Financial Component
Probuphine (Canada)	Knight Therapeutics Inc.	Exclusive Commercialization License	Royalty payments on net sales ranging from the low-teens to the mid-thirties percentage
Probuphine (EU, as Sixmo™)	Unspecified Company	Commercialization Rights Holder	Implied ongoing royalty/supply stream

Titan Pharmaceuticals, Inc. discontinued U.S. commercialization for Probuphine in the fourth quarter of 2020, making out-licensing a critical channel for any future ProNeura product success.

Direct communication with the financial market via SEC filings and press releases

For the financial market, Titan Pharmaceuticals, Inc. relies on mandatory SEC filings and proactive press releases. This channel is crucial for transparency, especially following the significant reverse merger activity in 2025. You need to track these closely because they signal major shifts in corporate structure and financing.

Key recent communication milestones that define this channel include:

• Filing of Form F-4 registration statement for the merger with TalenTec Sdn. Bhd. (as of June 2025).
• Completion of the merger on October 1, 2025, with shares ceasing Nasdaq trading the next day.
• Appointment of Chay Weei Jye as sole director and acting secretary post-merger on October 1, 2025.
• Completion of a $1,000,000 Private Placement in March/April 2025, issuing 100,000 Series B Convertible Preferred Stock shares at $10.00 per share.

The company's status as a Smaller reporting company and Non-accelerated filer as of May 2025 dictates the cadence and depth of some required disclosures. The market capitalization as of August 21, 2025, was reported at $6.52M, based on 1.33M shares outstanding.

Here's a snapshot of the financial reporting landscape around the merger event:

Metric (as of June 30, 2025)	Amount (In Thousands, USD)	Reporting Context
Trailing 12-Month Revenue	null	Financial Health Indicator
TTM EBITDA	($2,805)	Operational Performance
TTM Net Income	($2,805)	Bottom Line Result
Total Assets (TTM)	3,051	Balance Sheet Size

Scientific publications and conferences for R&D visibility

Visibility for the ProNeura platform's potential beyond existing licensing comes through scientific channels. While specific 2025 publication counts aren't in the data, the commitment to R&D drives this channel. The company's focus is on developing therapeutics for chronic diseases where steady drug levels offer a benefit.

The investment underpinning this visibility channel is substantial, even if historical: R&D expenditure in 2023 was $4.7 million. This investment supports the ongoing scientific narrative that Titan Pharmaceuticals, Inc. is pushing forward with its proprietary technology.

The channel activity is inherently tied to the success of the ProNeura platform, which is designed to provide continuous drug release over six months or longer. Finance: draft 13-week cash view by Friday.

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Titan Pharmaceuticals, Inc. (TTNP) right as the company completed its business combination with Black Titan Corporation on October 1, 2025, which resulted in TTNP shares ceasing trading on Nasdaq on October 2, 2025. This context is key, as the segments reflect the structure leading into the merger.

Pharmaceutical and biotech companies seeking advanced drug delivery platforms.

This segment represents potential partners or acquirers interested in the ProNeura™ technology. ProNeura™ is the proprietary long-term, continuous drug delivery platform designed for subdermal implants providing drug release over six months or longer, depending on the drug characteristics. While Titan Pharmaceuticals sold its first product, Probuphine®, in September 2023, the platform itself remained the core asset for potential future collaborations or licensing deals with other pharmaceutical entities. The company's reported Sales for Fiscal Year 2024, categorized under Development of Pharmaceutical Products, totaled $1.67M USD. The Total Assets reported at the end of 2024 were $13.29M USD.

The value proposition for this segment is the technology's ability to maintain stable medication levels, which can offer advantages in efficacy and/or safety over other administration routes for chronic conditions. The structure of the business combination itself suggests that larger entities or different operational models were seen as the next step for this technology.

Investors, primarily equity holders, funding the clinical-stage operations.

This group provided the necessary capital to sustain operations, especially given the company's historical focus on development rather than product sales post-US divestiture. The financial activity in 2025 shows a reliance on equity financing to bridge operations leading up to the merger. The company completed a $600,000 private placement of Series C Convertible Preferred Stock in June 2025, following a $1 million private placement in April 2025. Prior to the merger completion on October 1, 2025, the company was valued at $6.13 million. As of the latest reports near the merger date, the number of outstanding shares was 1.33M, with a free float of 61.91%, meaning 823.52K shares were available for public trading. The analyst consensus rating from the single Wall Street analyst covering the stock in the preceding year was a 'Sell.'

Here's a quick look at the capital raised through private placements in 2025:

Financing Event Date	Security Type	Aggregate Amount Raised (USD)
June 2025	Series C Convertible Preferred Stock	$600,000
April 2025	Convertible Preferred Stock	$1,000,000

Patients suffering from chronic conditions requiring stable, long-term drug levels.

This is the ultimate end-user segment, though Titan Pharmaceuticals, Inc. did not directly sell to them in late 2025 due to the prior divestiture of its US commercial product. The segment is defined by the medical need that the ProNeura platform is designed to address. The technology targets chronic diseases where maintaining steady drug levels is critical for patient outcomes. The initial focus product, Probuphine®, was for the maintenance treatment of opioid use disorder in clinically stable patients taking 8 mg or less a day of oral buprenorphine. The platform's core benefit to this segment is:

• Continuous drug release over six months or longer.
• Subdermal implant administration requiring a brief, outpatient procedure.
• Elimination of daily dosing fluctuations common with oral medications.
• Potential for improved efficacy and/or safety profiles.

The company's stated mission was advancing the treatment of select chronic diseases using this delivery method. The financial data from 2024 shows the company's investment in this area, with reported Total Assets of $13.29M.

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Cost Structure

The Cost Structure for Titan Pharmaceuticals, Inc. is heavily weighted toward the pre-commercial activities typical of a development-stage biotech, primarily driven by scientific advancement and compliance overhead. You're managing a lean operation, so every dollar spent on non-core activities needs intense scrutiny.

The most significant drain on resources is Heavy Research and Development (R&D) expenses. These costs cover the necessary clinical and non-clinical studies required to move any therapeutic candidate through the FDA pipeline. While the company has been actively reducing overall operating expenses, as evidenced by the Q3 2024 operating expenses of $754,000 (down from $2,065,000 the prior year), the R&D component remains a critical, variable cost center dependent on trial milestones.

General and administrative (G&A) costs represent the fixed overhead necessary to maintain corporate existence, legal standing, and regulatory adherence. This includes executive compensation, which for the CEO's base salary alone was reported at $545,564 as of late 2025, supporting a very small team of only 4 full-time employees. Legal and regulatory compliance costs are inherent to operating in the pharmaceutical space, ensuring all filings and intellectual property matters are current.

The financial reality for the first half of 2025 reflects this cost base, with the company reporting an operating loss of approximately -$1.19 million for the first six months of 2025. This loss is a direct consequence of funding ongoing development activities without significant revenue streams. Cash used in operating activities for the nine months ending September 30, 2024, was $3,374,000, though the company believed its cash position of approximately $3.4 million as of that date was sufficient to fund operations through the fourth quarter of 2025, following cost reduction efforts.

A specific, ongoing cost category involves the costs associated with maintaining the ProNeura IP portfolio. Even though the initial Probuphine patent expired in April 2024, the company continues to develop therapeutics based on the proprietary long-term drug delivery platform. Maintaining the remaining patent estate, trade secrets, and platform technology requires continuous legal and administrative expenditure to protect future value, even if specific dollar amounts aren't broken out in the latest public statements.

Here's a quick look at some of the structural financial context points as of mid-to-late 2025:

Financial Metric/Data Point	Amount/Value	Date/Period
Reported Operating Loss (Required Figure)	-$1.19 million	Six Months Ended June 30, 2025
CEO Base Compensation	$545,564	As of December 2025
Total Full-Time Employees	4	As of December 2025
Cash Used in Operating Activities	$3,374,000	Nine Months Ended September 30, 2024
Common Shares Outstanding	1,330,234	June 30, 2025

The cost structure is characterized by high fixed costs relative to the small operational footprint. You see this in the G&A line, where even with only 4 employees, the necessary compliance and executive costs are substantial.

• Heavy investment in non-clinical and clinical studies for pipeline advancement.
• Legal fees for ongoing regulatory filings and IP defense.
• Salaries and overhead for the minimal corporate team.
• Costs related to the ProNeura platform's continued viability.

The company's strategy, as of the August 2025 10-Q, was to manage these costs to ensure a 12-month runway without immediate additional funding, showing a clear focus on capital conservation.

Finance: draft 13-week cash view by Friday.

Titan Pharmaceuticals, Inc. (TTNP) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Titan Pharmaceuticals, Inc. (TTNP) as of late 2025, and honestly, the picture is dominated by financing rather than product sales, which makes sense given the clinical-stage pivot.

Financing Cash Flow

For the first half of 2025 (H1 2025), the most concrete revenue-like inflow came from equity financing. Titan Pharmaceuticals, Inc. secured cash flow totaling exactly $1.6 million through the issuance of convertible preferred stock during this period. This cash was critical for keeping the lights on and funding ongoing development activities.

Here's a quick look at the components that built that H1 2025 financing total:

• Financing from April 2025 private placement: $1 million.
• Financing from June 2025 private placement with Blue Harbour Asset Management: $600,000.

The June 2025 transaction involved the sale of 60,000 shares of Series C Convertible Preferred Stock at a conversion price of $3.40 per share. To be fair, these financing events are not sustainable revenue, but they are the primary cash source right now.

Milestone Payments and Royalties from ProNeura Assets

Revenue from legacy asset monetization, specifically milestone payments and royalties tied to the ProNeura platform, remains a potential, though perhaps sporadic, source. While the major past milestone payment of $15 million from Braeburn Pharmaceuticals followed the 2016 FDA approval of Probuphine, the current focus is on future triggers.

The structure of these potential receipts is clear, even if the timing is uncertain. For instance, in an agreement related to a proposed business combination announced in June 2025, the Company was slated to receive $2 million in upfront payments, plus the potential for up to $50 million in milestone payments and single digit royalty payments on future net sales. This shows the model relies on successful partnerships and asset transactions.

For context on how these royalty streams are structured in other deals, consider the Asset Purchase Agreement with JT Pharmaceuticals, Inc. for TP-2021, which entitles JT Pharma to single-digit percentage earn-out payments on net sales if the product is commercialized. This is the type of structure you'd expect for royalties.

Negligible/Non-Existent Product Revenue

Due to the strategic pivot toward a clinical-stage development model, direct product revenue is effectively non-existent or negligible. The financial reality reflects this focus on R&D over commercial sales.

You can see this clearly in the reported revenue history:

Period	Reported Revenue (USD)
2023 Annual Revenue	$0 Million
H1 2025 Net Loss	$1.25 million
2025 TTM Revenue	N/A

The company reported a net loss of USD 1.25 million in the first half of 2025, which further underscores that operations are currently funded by capital raises, not product sales.

The current revenue stream profile is:

• Primary cash source: Issuance of convertible securities.
• Secondary/Contingent source: Milestone payments from asset licensing/sales.
• Product sales: Essentially zero, reflecting the clinical focus.

Finance: draft 13-week cash view by Friday.