The company has transitioned to a pre-revenue status, reporting zero revenue for multiple consecutive quarters while sustaining quarterly SG&A expenses of $657,000 as of 2025Q2.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 |
|---|
| Sales/Revenue | 10K | 0 | 1K | 60K | 1.53M | 4.84M | 3.61M | 5.91M | 215K | 15.06M | 1.67M | 3.65M | 10.48M | 7.12M | 4.07M | 10.09M | 79K | 70K | 24K | 32K | 89K | 31K | 89K | 2.89M | 4.57M | 1.88M | 300K | 100K | 17.5M | 300K | 100K |
| Revenue Growth % | -88.24% | -100% | -98.33% | -96.07% | -68.46% | 33.98% | -38.91% | 2649.3% | -98.57% | 801.56% | -54.17% | -65.21% | 47.27% | 74.95% | -59.69% | 12675.95% | 12.86% | 191.67% | -25% | -64.04% | 187.1% | -65.17% | -96.92% | -36.75% | 143.19% | 526.67% | 200% | -99.43% | 5733.33% | 200% | - |
| Cost of Goods Sold | 0 | 5K | 0 | 196K | 199K | 472K | 1.29M | 538K | 9.65M | 6.13M | 4.67M | 4.08M | 8.31M | 10.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -196K | -400K | -300K | -400K | -500K | -300K |
| COGS % of Revenue | - | - | - | 326.67% | 13.04% | 9.76% | 35.67% | 9.1% | 4487.44% | 40.66% | 279.77% | 111.77% | 79.28% | 149.08% | - | - | - | - | - | - | - | - | - | - | - | -10.43% | -133.33% | -300% | -2.29% | -166.67% | -300% |
| Gross Profit | 5K | -5K | 1K | -136K | 1.33M | 4.37M | 2.32M | 5.37M | -9.43M | 8.94M | -3M | -429K | 2.17M | -3.49M | 4.07M | 10.09M | 79K | 70K | 24K | 32K | 89K | 31K | 89K | 2.89M | 4.57M | 2.08M | 700K | 400K | 17.9M | 800K | 400K |
| Gross Margin % | 50% | - | 100% | -226.67% | 86.96% | 90.24% | 64.33% | 90.9% | -4387.44% | 59.34% | -179.77% | -11.77% | 20.72% | -49.08% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 110.43% | 233.33% | 400% | 102.29% | 266.67% | 400% |
| Gross Profit Growth % | - | -600% | 100.74% | -110.25% | -69.61% | 87.95% | -56.77% | 156.96% | -205.53% | 397.57% | -600.23% | -119.75% | 162.18% | -185.87% | -59.69% | 12675.95% | 12.86% | 191.67% | -25% | -64.04% | 187.1% | -65.17% | -96.92% | -36.75% | 120.23% | 196.57% | 75% | -97.77% | 2137.5% | 100% | - |
| Operating Expenses | 2.61M | 4.56M | 7.28M | 10.29M | 10.68M | 11.72M | 19.17M | 13.64M | 14.72M | 10.72M | 8.43M | 7.12M | 11.37M | 15.49M | 14.57M | 16.12M | 5.89M | 25.99M | 18.46M | 16.48M | 23.14M | 25.65M | 27.37M | 34.9M | 28.72M | 21.01M | 12.6M | 11.8M | 25.7M | 11.4M | 9.8M |
| OpEx % of Revenue | - | - | 727800% | 17158.33% | 699.93% | 242.19% | 530.79% | 230.71% | 6845.12% | 71.17% | 504.49% | 195.31% | 108.5% | 217.61% | 358.26% | 159.69% | 7460.76% | 37128.57% | 76904.17% | 51496.88% | 26000% | 82748.39% | 30749.44% | 1206.6% | 628.22% | 1117.55% | 4200% | 11800% | 146.86% | 3800% | 9800% |
| Selling, General & Admin | 2.61M | 4.56M | 5.55M | 6.03M | 4.99M | 5.8M | 11.93M | 6.87M | 5.07M | 4.6M | 3.75M | 3.05M | 3.06M | 4.88M | 3.37M | 3.26M | 3.44M | 9.76M | 6.21M | 4.86M | 5.37M | 5.24M | 5.11M | 5.08M | 5.38M | 4.07M | 2.8M | 3.7M | 6.5M | 5.3M | 9.5M |
| SG&A % of Revenue | - | - | 554800% | 10056.67% | 326.93% | 119.9% | 330.24% | 116.16% | 2357.67% | 30.51% | 224.72% | 83.54% | 29.22% | 68.53% | 82.79% | 32.33% | 4351.9% | 13942.86% | 25887.5% | 15184.38% | 6033.71% | 16893.55% | 5740.45% | 175.52% | 117.74% | 216.49% | 933.33% | 3700% | 37.14% | 1766.67% | 9500% |
| Research & Development | 0 | 0 | 1.91M | 4.76M | 5.69M | 5.92M | 7.24M | 7.48M | 9.65M | 6.13M | 4.67M | 4.08M | 8.31M | 10.61M | 11.21M | 12.86M | 2.46M | 16.24M | 12.24M | 11.62M | 17.77M | 20.41M | 22.26M | 29.82M | 23.34M | 16.74M | 9.4M | 7.8M | 18.8M | 5.6M | 0 |
| R&D % of Revenue | - | - | 191300% | 7930% | 373% | 122.28% | 200.55% | 126.51% | 4487.44% | 40.66% | 279.77% | 111.77% | 79.28% | 149.08% | 275.47% | 127.37% | 3108.86% | 23200% | 51016.67% | 36312.5% | 19966.29% | 65854.84% | 25008.99% | 1031.09% | 510.48% | 890.64% | 3133.33% | 7800% | 107.43% | 1866.67% | - |
| Other Operating Expenses | 0 | 0 | -183K | -497K | -84K | 0 | 17K | -6K | -55K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 196K | 400K | 300K | 400K | 500K | 300K |
| Operating Income | -2.61M | -4.56M | -7.28M | -10.23M | -9.35M | -7.35M | -16.84M | -8.26M | -14.5M | 4.34M | -6.76M | -3.48M | -891K | -8.37M | -10.51M | -6.03M | -5.82M | -25.92M | -18.43M | -16.45M | -23.05M | -26.38M | -31.17M | -32M | -24.15M | -18.93M | -11.9M | -11.4M | -7.8M | -10.6M | -9.4M |
| Operating Margin % | -26110% | - | -727700% | -17058.33% | -612.98% | -151.94% | -466.46% | -139.81% | -6745.12% | 28.83% | -404.49% | -95.31% | -8.5% | -117.61% | -258.26% | -59.69% | -7360.76% | -37028.57% | -76804.17% | -51396.88% | -25900% | -85096.77% | -35026.97% | -1106.6% | -528.22% | -1007.13% | -3966.67% | -11400% | -44.57% | -3533.33% | -9400% |
| Operating Income Growth % | - | 37.38% | 28.9% | -9.42% | -27.25% | 56.36% | -103.82% | 43.01% | -433.92% | 164.26% | -94.5% | -290.01% | 89.35% | 20.33% | -74.37% | -3.61% | 77.57% | -40.62% | -12.08% | 28.65% | 12.62% | 15.38% | 2.59% | -32.52% | -27.55% | -59.11% | -4.39% | -46.15% | 26.42% | -12.77% | - |
| EBITDA | -2.61M | -4.55M | -7.17M | -10.04M | -9.13M | -7.06M | -16.6M | -7.88M | -14.09M | 4.72M | -6.4M | -3.12M | -784K | -8.35M | -10.47M | -5.94M | -5.65M | -25.71M | -18.14M | -16.06M | -22.65M | -25.91M | -30.73M | -30.43M | -23.5M | -18.74M | -11.5M | -11.1M | -7.4M | -10.1M | -9.1M |
| EBITDA Margin % | -26110% | - | -716500% | -16731.67% | -598.49% | -145.91% | -459.71% | -133.38% | -6551.16% | 31.33% | -383.06% | -85.63% | -7.48% | -117.37% | -257.47% | -58.85% | -7146.84% | -36728.57% | -75604.17% | -50181.25% | -25444.94% | -83593.55% | -34533.71% | -1052.35% | -514.06% | -996.7% | -3833.33% | -11100% | -42.29% | -3366.67% | -9100% |
| EBITDA Growth % | 63.19% | 36.47% | 28.63% | -9.92% | -29.38% | 57.48% | -110.55% | 44.03% | -398.41% | 173.74% | -105.03% | -298.21% | 90.61% | 20.25% | -76.33% | -5.21% | 78.04% | -41.69% | -13% | 29.09% | 12.61% | 15.69% | -0.99% | -29.49% | -25.43% | -62.94% | -3.6% | -50% | 26.73% | -10.99% | - |
| D&A (Non-Cash Add-back) | 0 | 5K | 112K | 196K | 221K | 292K | 244K | 380K | 417K | 377K | 358K | 353K | 107K | 17K | 32K | 85K | 169K | 210K | 288K | 389K | 405K | 466K | 439K | 1.57M | 647K | 196K | 400K | 300K | 400K | 500K | 300K |
| EBIT | -2.61M | -4.71M | -7.28M | -10.23M | -9.35M | -7.35M | -6.52M | -8.26M | -14.5M | 4.34M | -6.76M | -3.48M | -891K | -8.37M | -10.51M | -6.16M | -5.82M | -25.43M | -18.43M | -16.45M | -23.05M | -26M | -27.28M | -32M | -24.15M | -18.93M | -11.9M | -11.5M | -7.8M | -10.5M | -9.4M |
| Net Interest Income | -1K | 1K | 5K | 53K | 1K | -769K | -967K | -887K | -369K | 37K | 0 | 0 | -1.57M | -4.86M | -6.43M | -678K | -6K | 0 | 646K | 717K | 570K | 673K | 1.28M | 4.22M | 6.76M | 5.16M | 0 | 0 | 0 | -2M | -1.9M |
| Interest Income | -1K | 1K | 5K | 53K | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 646K | 717K | 570K | 673K | 1.28M | 4.22M | 6.76M | 5.16M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 769K | 967K | 887K | 369K | 37K | 0 | 0 | 1.57M | 4.86M | 6.43M | 678K | 6K | 470K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2M | 1.9M |
| Other Income/Expense | -194K | -149K | 1.71M | 29K | 578K | -56K | 386K | -759K | 195K | 792K | -4.52M | 1.07M | 10.6M | -6.81M | -4.7M | -809K | -71K | 490K | 786K | 710K | 589K | 376K | 1.28M | 3.82M | 6.69M | -5.01M | -100K | 999K | 8.7M | -400K | -400K |
| Pretax Income | -2.81M | -4.71M | -5.57M | -10.21M | -8.78M | -7.41M | -16.46M | -9.02M | -14.31M | 5.13M | -11.28M | -2.4M | 9.71M | -15.18M | -15.2M | -6.83M | -5.88M | -25.43M | -17.65M | -15.74M | -22.46M | -26M | -29.89M | -28.18M | -17.46M | -23.94M | -12M | -10.5M | 900K | -10.9M | -9.8M |
| Pretax Margin % | -28050% | - | -556900% | -17010% | -575.1% | -153.1% | -455.77% | -152.65% | -6654.42% | 34.09% | -674.99% | -65.91% | 92.65% | -213.29% | -373.72% | -67.71% | -7443.04% | -36328.57% | -73529.17% | -49178.13% | -25238.2% | -83883.87% | -33583.15% | -974.48% | -381.98% | -1273.62% | -4000% | -10500% | 5.14% | -3633.33% | -9800% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | -369K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 71K | 960K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -146K | -600K | -800K | -8.4M | 2.3M | 2.3M |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 2.24% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -1.21% | -3.78% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.61% | 5% | 7.62% | -933.33% | -21.1% | -23.47% |
| Net Income | -2.81M | -4.71M | -5.57M | -10.18M | -8.11M | -20.73M | -16.09M | -9.02M | -14.31M | 5.13M | -11.28M | -2.4M | 9.71M | -15.18M | -15.2M | -6.83M | -5.89M | -25.43M | -17.65M | -15.74M | -22.46M | -26M | -29.89M | -28.18M | -17.46M | -18.79M | -11.3M | -10.6M | 600K | -12.9M | -11.7M |
| Net Margin % | -28050% | - | -556900% | -16961.67% | -531.72% | -428.44% | -445.56% | -152.65% | -6654.42% | 34.09% | -674.99% | -65.91% | 92.65% | -213.29% | -373.72% | -67.71% | -7450.63% | -36328.57% | -73529.17% | -49178.13% | -25238.2% | -83883.87% | -33583.15% | -974.48% | -381.98% | -999.36% | -3766.67% | -10600% | 3.43% | -4300% | -11700% |
| Net Income Growth % | 48.64% | 15.5% | 45.28% | -25.43% | 60.85% | -28.83% | -78.31% | 36.93% | -378.62% | 145.53% | -369.37% | -124.75% | 163.97% | 0.15% | -122.46% | -16.11% | 76.85% | -44.1% | -12.14% | 29.94% | 13.62% | 13% | -6.06% | -61.37% | 7.05% | -66.27% | -6.6% | -1866.67% | 104.65% | -10.26% | - |
| Net Income (Continuing) | -2.81M | -4.71M | -5.57M | -10.21M | -8.78M | -7.41M | -7.49M | -9.02M | -14.31M | 5.13M | -11.28M | -2.4M | 9.71M | -15.18M | -15.2M | -6.83M | -5.89M | -25.43M | -17.65M | -15.74M | -22.46M | -26M | -29.89M | -28.18M | -17.46M | -18.79M | -11.3M | -10.6M | 600K | -12.9M | -11.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -10.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.24M | 0 | 1.24M | 1.24M | 1.24M | 1.24M | 1.24M | 1.24M | 1.24M | 1.24M | 1.2M | 1.2M | 1.2M | 1.2M | 1.2M |
| EPS (Diluted) | -2.63 | -5.23 | -7.41 | -15.15 | -4.06 | -10.38 | -9.83 | -47.59 | -121.34 | 36.01 | -101.24 | -25.35 | 95.40 | -225.96 | -249.23 | -114.20 | -99.66 | -431.92 | -406.32 | -411.06 | -681.41 | -820.39 | -1060.34 | -1009.38 | -626.56 | -726.84 | -694.36 | -800.60 | 39.60 | -1030.02 | -1531.01 |
| EPS Growth % | 54.15% | 29.42% | 51.09% | -273.15% | 60.89% | -5.6% | 79.34% | 60.78% | -436.96% | 135.57% | -299.37% | -126.57% | 142.22% | 9.34% | -118.24% | -14.59% | 76.93% | -6.3% | 1.15% | 39.68% | 16.94% | 22.63% | -5.05% | -61.1% | 13.8% | -4.68% | 13.27% | -2121.72% | 103.84% | 32.72% | - |
| EPS (Basic) | - | -5.23 | -7.41 | -15.15 | -4.06 | -10.38 | -12602.35 | -47.59 | -121.48 | 44.71 | -101.24 | -25.36 | 117.00 | -227.70 | -253.71 | -114.20 | -99.66 | -431.92 | -406.32 | -411.06 | -681.41 | -820.39 | -1060.34 | -1009.38 | -626.56 | -726.84 | -694.36 | -800.60 | 39.60 | -1030.02 | -1531.01 |
| Diluted Shares Outstanding | 1.06M | 899K | 752K | 671.7K | 2M | 2M | 1.64M | 189.6K | 117.91K | 119.21K | 111.4K | 94.78K | 83.49K | 67.18K | 61K | 59.84K | 59.06K | 58.88K | 43.43K | 38.28K | 32.96K | 31.7K | 28.19K | 27.92K | 27.87K | 25.85K | 16.27K | 13.24K | 15.15K | 12.52K | 7.64K |
| Basic Shares Outstanding | 1.06M | 899K | 752K | 671.7K | 2M | 2M | 1.28K | 189.6K | 117.78K | 115.21K | 111.4K | 94.76K | 82.93K | 66.67K | 59.92K | 59.84K | 59.06K | 58.88K | 43.43K | 38.28K | 32.96K | 31.7K | 28.19K | 27.92K | 27.87K | 25.85K | 16.27K | 13.24K | 15.15K | 12.52K | 7.64K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity insolvency risk
As indicated by the most recent quarterly financial filings, Titan Pharmaceuticals has reported zero revenue for multiple consecutive periods, confirming a complete transition away from commercial product sales and highlighting the company's current status as a pre-revenue entity dependent entirely on future clinical or regulatory milestones.
The total absence of top-line growth suggests that the firm's previous commercial efforts have been fully abandoned. Investors should interpret this as a pivot back to a pure-play development profile where revenue visibility is non-existent.
Based on reported figures, the company continues to incur significant quarterly SG&A expenses, such as the $657,000 reported in 2025Q2, despite the lack of any offsetting revenue, which suggests that fixed overhead costs are rapidly depleting the firm's limited remaining cash position.
The persistence of these operating costs without a corresponding R&D investment suggests a struggle to maintain basic corporate functions. This cost structure appears unsustainable given the lack of incoming cash flow to support ongoing operations.
According to the income statement history, the company's operating income has remained consistently negative, with losses reaching $657,000 in the most recent quarter, indicating that the firm lacks the scale or commercial activity required to achieve any form of operating leverage.
The absence of gross profit means that every dollar spent on SG&A directly exacerbates the net loss. This dynamic implies that the company is currently unable to generate the operational efficiencies necessary to move toward a break-even point.
As evidenced by the company's historical financial statements and current cash balance of approximately $2.8 million, the firm faces a high probability of terminal dilution, as the current burn rate necessitates immediate capital raises that may severely impair existing shareholder value in the near term.
Short-term survival appears contingent upon the ability to secure non-dilutive funding or a strategic partnership, both of which remain unproven. The market's current valuation likely reflects the high risk that the company will be unable to reach its next clinical milestone before exhausting its liquidity.
Quick answers to the most common questions about buying TTNP stock.
For fiscal year 2024, Titan Pharmaceuticals, Inc. (TTNP) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.1M in 1995.
Titan Pharmaceuticals, Inc. (TTNP) reported a net loss of $4.7M for the fiscal year ending 2024.