A New Partnership Could Boost This $1 Stock
Titan Pharmaceuticals, Inc. (Nasdaq: TTNP) is up on news after announcing the execution of a specialty pharmacy distribution and services agreement with AllianceRx Walgreens Prime that will expand patient access to treatment with Probuphine (buprenorphine) implant, Titan’s unique six-month maintenance treatment for opioid use disorder (OUD) in eligible patients.
Titan Pharmaceuticals, Inc., develops proprietary therapeutics for the treatment of serious medical disorders. It develops products based on ProNeura, a proprietary long-term drug delivery platform that focuses primarily on treatments for chronic diseases.
PR Newswire reported,
“Titan expects the majority of Probuphine sales in the United States to be through the specialty pharmacy distribution model, where a specialty pharmacy such as AllianceRx Walgreens Prime carries inventory, directly handles the subsequent patients’ insurance billing and payment processes, and ships to the health care provider as prescribed.
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This system is designed to facilitate patient access to treatment by streamlining the product ordering and fulfillment process for healthcare providers and their staff. Titan’s strategic expansion of its network to include AllianceRx Walgreens Prime, one of the nation’s largest specialty and home delivery pharmacies, is a key component of its focused commercialization strategy for Probuphine.”
Probuphine is the only subdermal implant designed to deliver buprenorphine continuously for six months following insertion.
Probuphine was developed using ProNeura™, the continuous drug delivery system developed by Titan that consists of a small, solid implant made from a mixture of ethylene-vinyl acetate and a drug substance. The resulting construct is a solid matrix that is placed subdermally, normally in the upper arm in an outpatient office procedure and removed in a similar manner at the end of the treatment period.
The U.S. Food and Drug Administration (FDA) approved Probuphine in May 2016, and it is the first and only buprenorphine implant available for the maintenance treatment of opioid addiction.
Tracey James, Vice President of Pharmacy Services at AllianceRx Walgreens Prime, said: “We are proud to partner with Titan to facilitate treatment access to Probuphine.
For many people with OUD, the most effective treatment is the combination of counseling and medication-assisted treatment, or MAT. Our pharmacists use an integrated care management program to deliver comprehensive and collaborative care for patients throughout their care journey.”
Dane Hallberg, Titan’s Chief Commercial Officer, added: “We are excited to expand our specialty pharmacy network for Probuphine to include such a nationally-recognized leader as AllianceRx Walgreens Prime.
AllianceRx Walgreens Prime has excellent relationships with third-party payors and a network of fulfillment sites that spans the entire country. Its broad reach will significantly improve the ability of OUD patients to gain access to long-term maintenance treatment with Probuphine.”
The stock is trading up on news of the partnership with AllianceRX Walgreens Prime.
TTNP should be considered a buy if recent momentum continues.
Look for an entry at $1.75 with a price target of at least $2.74 based on the pattern in the chart.