Titan Pharmaceuticals (NASDAQ:TTNP) is making news on Wednesday after announcing a deal with JT Pharma.
Here’s what TTNP stock investors need to know about the Titan Pharmaceuticals-JT Pharma news.
- Titan Pharmaceuticals is spending $8 million to acquire JT Pharma’s JT-09.
- This is the company’s kappa opioid agonist peptide.
- TTNP plans to use JT-0 in combination with its ProNeura “long-term, continuous drug delivery technology.”
- The goal is to use these two assets together to treat chronic pruritus.
- Chronic pruritus is itching that lasts for more than six weeks and may be caused by skin, systemic, neurologic, and psychologic diseases.
- The agreement between the two companies also includes milestone payments for JT Pharma.
- These payments will be made if certain regulatory conditions are met, such as approval for commercialization.
- JT Pharma will also get single-digit percentage royalties from net sales of the product.
Dr. Kate DeVarney, president and COO of Titan Pharmaceuticals, said this about the news.
“Current treatments for moderate to severe chronic pruritus, a debilitating condition characterized by itching of the skin lasting longer than six weeks, are relatively ineffective and are associated with undesirable side-effects. Our early non-clinical data suggest that subcutaneous implantation of JT-09 ProNeura implants could potentially deliver therapeutic concentrations of JT-09 for six months or longer, and we are looking forward to conducting additional preclinical studies to establish proof-of-concept with data available in the first half of 2021.”
TTNP stock was up 41.8% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
