Shares of Titan Pharmaceuticals (TTNP) had been trading with increased volume all month long thus far, and late last week that volume boost solidified into share price gains, too. Titan's stock opened the month of July trading at sixty five cents, but barely two weeks later shares closed last week at seventy nine cents, a significant percentage increase for those that took advantage of the dip.
With volume still trading significantly above the recognized average for the weeks leading into the most recent boost, TTNP shares are threatening to continue their move higher.
News hit the wires last week that Titan is developing a pipeline beyond just Probuphine for opioid addiction and chronic pain, having announced that the company had completed pre-clinical work on a product that puts ProNeura to work against Parkinson's, but it's unlikely that such news related to a pre-clinical product would have the volume and price impact TTNP shares that has been seen over the past few weeks.
With that being the case, it's time to speculate as to what likely could be behind the move. Investors may be taking positions in preparation for the anticipated approval filing with the FDA for Probuphine in the treatment of opioid addiction, an event that is expected to take place in or around September of this year.
It's also possible that investors could be expecting a partnership deal to finally materialize, an occurrence that has been long-speculated by TTNP shareholders. Some may even contend that Probuphine and the ProNeura technology may be the target of an acquisition, another theory that has long circulated trading circuits and some popular financial media outlets, such as Bloomberg.
Given the relative minuscule market cap that Titan is carrying at the current time, any dent into the addictive market by Probuphine could provide a nice boost to TTNP shares. The climate is ripe to capitalize on the Probuphine technology with the amount of high-profile overdoses making headlines over the past couple of years. Probuphine - specifically the ProNeura subcutaneous drug delivery system - alleviates the threat of drug abuse and/or overdosing by patients who otherwise are left to a container full of pills that can be easily abused.
Physicians of the rich and famous who have been making bank over the years by over-prescribing medications to their clients for years with little concern for the patient's overall health may not look kindly to the ProNeura technology (Probuphine is also being developed to treat chronic pain), but as a 'get the job done' application, Probuphine could quickly gain ground in the sector, if approved.
Titan shares closed the week strong last week and should be watched during the upcoming week. Friday's volume was well more than triple the daily average with an accompanying four percent price spike. Although the market rallied big at the close last week, speculative plays such as TTNP are rarely influenced by broad market trends, so it's highly possible that something else is in the works.
One to keep an eye on, and congrats to those who picked up a few shares sub-seventy.
Disclosure: Long TTNP.
Contact VFC's Stock House: firstname.lastname@example.org
Originally published at: http://vfcsstockhouse.com
Follow VFC's Stock House on Twitter: https://twitter.com/#!/VFCsStockHouse
'Like' VFC's Stock House on Facebook: http://www.facebook.com/pages/VFCs-Stock-House/143724412345213