On the risk of delisting of ordinary shares of Titan Pharmaceuticals, Inc. (TTNP)

The International Trading System Limited (ITS) informs on the delisting risk of ordinary shares of Titan Pharmaceuticals, Inc. (ISIN US8883147055, QI) from The Nasdaq Stock Market LLC (Nasdaq).

Information on delisting risk of ordinary shares by Nasdaq

On January 8, 2025, Titan Pharmaceuticals, Inc. (the Company) submitted a Current report on Form 8-K to The United States Securities and Exchange Commission (SEC). According to the report, on January 3, 2025, the Company received written notice from Nasdaq notifying that the Company was not in compliance with Listing Rules 5620(a) and 5810(c)(2)(G) as a result of its failure to hold an annual shareholder meeting within twelve months of the December 31, 2023 fiscal year end. The Company was granted 45 days or until February 17, 2025 to submit a plan to regain compliance. 

On March 20, 2025, the Company submitted an Annual report on Form 10-K to the SEC. According to the report, the Company submitted a plan to regain compliance. If that plan is accepted by Nasdaq, then the Company may be granted an exception of up to 180 calendar days from the date of its December 31, 2024 fiscal year end, or until June 30, 2025, to regain compliance. The Company’s failure to regain compliance with standards for continued listing would result in the ultimate delisting of its common stock from Nasdaq. 

For more information, please refer to the report available on the SEC website.

Information regarding possible actions to be taken by ITS

If Nasdaq suspends trading in the Company’s ordinary shares, ITS will prohibit submission of orders and will restrict ability to conclude agreements in respect of the Company’s ordinary shares. If the Company’s ordinary shares are delisted from Nasdaq, ITS will terminate trading in the Company’s ordinary shares. However, in case the Company’s ordinary shares become listed, or admitted to trading on another Recognised Trading Venue, ITS will consider but does not guarantee continuation of trading in the Company’s ordinary shares.