Titan Pharmaceuticals Receives Notice of Noncompliance from Nasdaq – Plans Annual Shareholder Meeting(

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Titan Pharmaceuticals Inc. (NASDAQ: TTNP) recently disclosed in an 8-K filing that it has received a notice of noncompliance from the Nasdaq Listing Qualifications Staff. The notice, received on January 3, 2025, highlighted the company’s failure to hold an annual shareholder meeting within twelve months of the December 31, 2023 fiscal year end.

The noncompliance pertains to Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G); however, it has no immediate impact on the company’s listing on the Nasdaq Capital Market. Titan Pharmaceuticals now has 45 days to submit a plan aimed at regaining compliance. If Nasdaq accepts the proposed plan, the company might be granted an exception of up to 180 calendar days from the fiscal year end date of December 31, 2024, to rectify the situation.

Failure to achieve compliance within the prescribed timeline could ultimately lead to the delisting of Titan Pharmaceuticals’ common stock from Nasdaq. In response to the notice, the company intends to organize an annual meeting of shareholders and design a compliance plan in line with the Notice and Nasdaq listing standards.

While the Notice underscores the importance of adhering to listing requirements, Titan Pharmaceuticals aims to address the noncompliance efficiently to maintain its standing on the Nasdaq Capital Market. Further updates regarding the company’s progress towards compliance are awaited as it navigates this challenge.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Titan Pharmaceuticals’s 8K filing here.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases in the United States and internationally. It develops products based on ProNeura, a proprietary long-term drug delivery platform. It also develops TP-2021 in combination with ProNeura technology for the treatment of chronic pruritus, a severe and debilitating condition defined as itching of the skin lasting longer than six weeks; and Nalmefene implant program for the prevention of opioid relapse following detoxification of patients suffering opioid use disorder.