Titan Pharmaceuticals(US:TTNP)2019-05-16 01:56Financial Data and Key Metrics Changes - In Q1 2019, Titan Pharmaceuticals recorded revenues of $0.9 million, which included $0.3 million from product sales, a 46% sequential increase over the prior quarter [45] - Operating expenses for Q1 2019 were $5.2 million, compared to $3.5 million in the same quarter of 2018 [46] - The net loss attributable to common shareholders in Q1 2019 was $4.5 million or $0.34 per share, compared to a net loss of $2.6 million or $0.74 per share in the same quarter of 2018 [47] Business Line Data and Key Metrics Changes - The company expanded its specialty pharmacy network through partnerships with AllianceRx Walgreens Prime and Accredo, enhancing patient access to Probuphine [13][22] - The number of active prescribers increased from under 200 in Q4 2018 to nearly 300 in Q1 2019 [24][78] Market Data and Key Metrics Changes - Titan's sales and marketing efforts at the American Society for Addiction Medicine conference generated significant interest in Probuphine, leading to increased demand for training sessions [16][27] - The European Medicines Agency adopted a positive opinion recommending marketing authorization for Sixmo, the European name for Probuphine, which is a major milestone for the company [14][34] Company Strategy and Development Direction - The company is focused on enhancing its commercialization strategy for Probuphine, including improving patient support services and expanding its specialty pharmacy network [50] - Titan is also pursuing opportunities to commercialize its products in additional regions globally, particularly in Europe [53] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress made in the U.S. relaunch of Probuphine, noting that early outcomes are starting to reflect in financial results [51] - The company anticipates that the approval of Sixmo will facilitate patient treatments in Europe by the end of 2019 [62] Other Important Information - Titan has received a grant of approximately $8.7 million from the National Institute for Drug Abuse to develop a subdermal implant for nalmefene, aimed at preventing opioid relapse [40] - The company is collaborating with the Walter Reed Army Institute of Research to evaluate its ProNeura platform for malaria prophylaxis [42] Q&A Session Summary Question: Timeline for patient implantation in Europe after approval - Management indicated that after receiving approval, the pricing approvals process typically takes three to four months, with patient treatments expected to start by the end of the year [62] Question: Integration status with AppianRx and specialty pharmacies - The integration with AppianRx is fully functional, and Walgreens is now shipping orders. Accredo will take a couple of weeks to integrate [66][68] Question: Impact of competitor's legal issues on the industry - Management noted that while disruptions in the industry are challenging, they do not directly compete with the affected company, and the overall demand for buprenorphine remains strong [71] Question: Changes in the number of providers using Probuphine - The number of active prescribers has increased significantly, with a focus on training physicians who have the right patient population [78] Question: Upcoming training sessions and expected prescription increases - Training sessions are designed for healthcare providers interested in prescribing Probuphine, with expectations of increased prescriptions as a result of these initiatives [88][94]