It's been a wild ride for shares of Titan Pharmacetucials (TTNP.OB) these days, and as the expected release of Probuphine Phase III results quickly approaches, TTNP could set news highs and finally breach the long-elusive two dollar barrier.
From there shares will react to whatever is put forth by the company, be it news of a buyout or major partnership to bring Probuphine and the ProNeura technology to market.
It's much-expected that the Probuphine trial, being a confirmatory study, will turn out a success, and the potential of Probuphine as a treatment for opioid addiction is significant, given that it takes away the chances of patients overdosing or voluntarily skipping the oral doses.
Titan shares touched two dollars in late-day trading on Wednesday, a 52-week high, and the volume behind the run continues to be strong.
The upside price move and increasing volume should draw in new investors to the company, which could provide the necessary firepower to spark a significant move higher.
These indicators will also bring in the traders, however, so volatility is sure to play a role in the near term trading pattern, but the next few months should be almost entirely event-based for Titan.
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