Navigation Links
Titan Pharmaceuticals to Receive $3 Million Loan
Date:12/21/2009

SOUTH SAN FRANCISCO, Calif., Dec. 21 /PRNewswire-FirstCall/ -- Titan Pharmaceuticals, Inc. (Pink Sheets: TTNP) today announced that it has entered into a Loan and Security Agreement with Oxford Finance Corporation ("Oxford") for a $3 million term loan. The loan will bear interest at an approximate rate of 13% per annum and be payable over three years. Under the terms of the agreement, Titan will pay Oxford an initial facility fee of $60,000 and a final payment fee of $180,000. The loan will be secured by Titan's assets and has a provision for pre-payment. Oxford will also receive five-year warrants to purchase approximately 43,000 shares at an exercise price equal to the lesser of the 10-day trailing average market price or the market price at closing.

In addition, Titan has recently received approximately $500,000 from the sale of 300,000 shares of common stock at $1.70 per share in a private placement to a single investor who participated in the company's December 2007 financing. These shares are currently restricted from trading and Titan has agreed to register the shares for resale under the Securities Act of 1933 ("Securities Act") once it has re-registered its shares under the Securities Exchange Act of 1934. The company has undertaken to file a Form 10 with the Securities and Exchange Commission ("SEC") on or prior to January 18, 2010 and to use its commercially reasonable efforts to effect such registration by April 15, 2010.

"The Board of Directors is very pleased with the progress made by the company," said Marc Rubin, MD, Executive Chairman of Titan. "Our Board members have also expressed their strong support by providing more than $500,000 in operating funds during this past few months through the exercise of options to purchase restricted shares," he added.

"This financing provides Titan with the immediate resources necessary to complete the process of becoming a reporting company again, and to
'/>"/>

SOURCE Titan Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Particle Sciences sells T-COTE(R) Line of Microfine Titanium Dioxides to Sensient
2. Titan Spine Teams Up With Syndicom, Inc. to Utilize Internationally Recognized SpineConnect Collaboration Platform
3. Not all titanium dioxide is equal when it comes to splitting water with visible light
4. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
5. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
6. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
7. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
8. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
9. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
10. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
11. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/29/2014)... DisasterTalk is a texting app which allows ... masts or other transmitters are down. The app can transmit ... the need for any Wi-Fi, and can also use a ... app has launched as a housing report finds ... risk of being affected by natural disasters. With the risk ...
(Date:7/29/2014)... The first product launch from start-up Hurley ... robotics. What sets Droidles completely apart from other stand ... them to communicate, share code with each other and ... “The invention is the system,” said Hurley Research founder ... of their own, both physically and on the internet." ...
(Date:7/29/2014)... (PRWEB) July 29, 2014 White ... devices, and cloud based eClinical technologies, have been published ... Online. These follow a long line of white papers ... publications including Life Science Leader, Pharmaceutical Online, and OpenHealthNews. ... provided a paper by CTO Marc Desgrousilliers, 'The ...
(Date:7/28/2014)... July 28, 2014 Sapphire Energy, Inc. ... announced the appointment of biotechnology veteran James Levine ... of directors. Levine replaces Cynthia ,CJ, Warner, who is ... remain chairman of the company,s board of directors. ... mission to deliver commercial scale algae-based fuels has been ...
Breaking Biology Technology:DisasterTalk App Could Save Lives as Report Reveals 8% of US Homes at Very High Risk of Natural Disaster 2Droidles, the Social Network of Robots and Open Source Platform for the Internet of Things, Launches for Crowd Funding on IndieGoGo.com 2Clinovo White Papers Published in Summer 2014 Editions of Leading Medical Device & Pharmaceutical Publications 2Clinovo White Papers Published in Summer 2014 Editions of Leading Medical Device & Pharmaceutical Publications 3Sapphire Energy Announces New CEO James Levine 2Sapphire Energy Announces New CEO James Levine 3
... DIEGO, Dec. 9 BioMed Realty Trust, Inc. (NYSE: ... of the previously announced cash tender offer by its operating ... outstanding 4.50% Exchangeable Senior Notes due 2026 (the "Notes"). , ... 8, 2009, the scheduled expiration date of the tender offer, ...
... ... of its Brazilian regional office , ... Chicago, Ill. (Vocus) December 9, 2009 -- As part of ongoing ... Group, a world leader in the contaminated soil , sediment and groundwater ...
... , NEWTON, Mass., Dec. 8 ... announced that James N. Little, Ph.D., has informed the ... Directors effective December 31, 2009. Dr. Little has served ... appointed chairman on December 13, 2007. , (Logo: ...
Cached Biology Technology:BioMed Realty Announces Results of Tender Offer for its Exchangeable Notes 2BioMed Realty Announces Results of Tender Offer for its Exchangeable Notes 3Olympics 2016, World Cup 2014, But First – Adventus Brasil 2009 2Olympics 2016, World Cup 2014, But First – Adventus Brasil 2009 3Olympics 2016, World Cup 2014, But First – Adventus Brasil 2009 4Microfluidics Chairman James N. Little, Ph.D., Announces Retirement from Board of Directors 2Microfluidics Chairman James N. Little, Ph.D., Announces Retirement from Board of Directors 3
(Date:7/29/2014)... researchers sometimes need to get back to basics. ... to study the impacts of the bumphead parrotfish ... at two remote locations in the central Pacific ... computer simulation, McCauley, an assistant professor in the ... his colleagues sought to understand whether the world,s ...
(Date:7/29/2014)... recover from the debilitating effects of a stroke ... knowledge of neurophysiology as well as effective therapy. ... outcomes has been the primary focus of research ... since he joined the NJIT faculty more than ... is underscored by substantial funding from sources such ...
(Date:7/29/2014)... The University of Maryland Schools of Dentistry (UM ... that they have received a five-year $10.7 million ... and Infectious Diseases (NIAID) of the National Institutes ... treatment of sexually-transmitted diseases (STDs). The grant, which ... program, represents a new direction for the research ...
Breaking Biology News(10 mins):Underwater elephants 2Underwater elephants 3Continuing the quest for better stroke therapies 2Continuing the quest for better stroke therapies 3University of Maryland Schools of Dentistry and Medicine receive NIH grant 2University of Maryland Schools of Dentistry and Medicine receive NIH grant 3University of Maryland Schools of Dentistry and Medicine receive NIH grant 4
... Water runoff from cropped farm fields can contain ... of the fertilizer and herbicide. Expanding on existing conservation ... filters socks in grassed waterways would reduce sediment flow ... reduced sediment in a non-tilled field and reduced concentrations ...
... Institute have found a way to disable a common ... forms of cancer. The researchers discovered, surprisingly, that ... protein, called MCL-1, to make a molecular tool that ... to kill the tumor cells by apoptosis, or programmed ...
... Facility (ALCF), located at the U.S. Department of Energy,s ... processor-hours of computations at a mind-boggling speed of over ... and engineers to conduct cutting-edge research in just weeks ... dedicated to enabling breakthrough science science that will ...
Cached Biology News:Compost filter socks improve runoff from croplands 2Molecular discovery suggests new strategy to fight cancer drug resistance 2Molecular discovery suggests new strategy to fight cancer drug resistance 3Over two billion hours served 2
... 5 ml of DETACHaBEAD 19 polyclonal ... CD19 (Pan B). B cells ... and released with DETACHaBEAD CD19 are ... suitable for applications such as culturing ...
This Malachite Green Phosphate Detection Kit...
5-bromo-4-chloro-3-indolyl b -D-galactopyranoside (X-Gal)...
...
Biology Products: