Business & Finance
Titan Pharmaceuticals incurs lower net loss of USD9.3m for 2018
2 April 2019 -

Therapeutics company Titan Pharmaceuticals Inc (NASDAQ:TTNP) stated on Monday its net loss of USD9.3m (USD1.64 per common share) for the full year ended 31 December 2018.

This reflects a growth when compared with a higher net loss of USD14.3m (USD4.05 per common share) for 2017.

Total revenues of USD6.6m were generated for the full year ended 31 December 2018, arise over total revenues of USD0.2m in 2017.

R&D expenses of USD7.5m were recorded for the year ended 31 December 2018, a decline from R&D of USD9.6m in 2017.

The company added that the drop in R&D costs was primarily associated with decreases in external R&D expenses related to the support of ProNeura product development programmes, employee related expenses and other R&D expenses.