Thu, Mar 20, 8:34 PM (40 days ago)
**Ticker:** TTNP **Financial Performance:** - **Revenue:** $0 in 2024, $184,000 in 2023. - **Net Income:** -$4.7 million in 2024, -$5.6 million in 2023. - **Operating Expenses:** $4.56 million in 2024, $7.46 million in 2023. - **Earnings per Share:** -$5.23 in 2024, -$7.41 in 2023. **Strategic Overview:** - Focus on developing therapeutics using the ProNeura® platform. - Discontinued commercialization of Probuphine® in the U.S. in Q4 2020. - Exploring strategic alternatives including mergers, acquisitions, and asset sales. - Implemented cost reduction measures and workforce reductions. - Entered into a merger agreement with TalenTec Sdn. Bhd. for a reverse merger. **Future Outlook:** - Uncertainty regarding the completion of the merger with TalenTec. - Dependence on additional funding to finance operations. - Potential for milestone payments and royalties from ProNeura assets. **Risk Factors:** - Risk of delisting from Nasdaq due to non-compliance with listing standards. - Material weakness in internal controls over financial reporting. - Dependence on information technology systems and cybersecurity threats. - Legal proceedings and regulatory compliance risks. - Dependence on key personnel and potential loss of services. **Financial Condition:** - Working capital of $2.4 million as of December 31, 2024. - Cash of $2.8 million as of December 31, 2024. - Negative cash flow from operations and net losses. **Market Position Changes:** - Listing on the Nasdaq Capital Market under the symbol "TTNP." - 914,234 shares of common stock outstanding as of March 12, 2025. - No dividends declared or paid on common stock. **Management and Governance:** - Board of Directors includes Avraham Ben-Tzvi, Brynner Chiam, Francisco Osvaldo Flores García, and Firdauz Edmin Bin Mokhtar. - Chay Weei Jye appointed as Chief Executive Officer effective December 2, 2024. - Significant executive and director changes in 2024. **Cybersecurity:** - Multi-faceted approach to identify and address cybersecurity threats. - Regular reviews, audits, and employee training. - No material cybersecurity threats identified in 2024.