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Titan Pharmaceuticals, Inc. (TTP) announced that further reductions in its workforce had been made as part of its previously announced plan to reduce expenses and operations to the minimal level necessary to enable the Company to continue its efforts to realize value for its remaining assets, particularly the Probuphine program. As part of the reduction plan, Marc Rubin, President and Chief Executive Officer, and Sunil Bhonsle, Chief Operating Officer, have entered into separation agreements pursuant to which they have ended their employment relationships with the Company but have agreed to assist the Company during the next six months, as needed, in connection with the aforementioned efforts. Robert Farrell, Chief Financial Officer, will assume the role of President pursuant to a retention agreement he has entered into with the Company. The Company has also filed with the SEC a Form 25 to voluntarily delist from the American Stock Exchange and a Form 15 to voluntarily suspend its reporting obligations. The Company's common stock will continue to be eligible for public trading on the Pink Sheets. KNOBIAS DISCLAIMER: All statements made in this article were made by the Company and do not in any way reflect the opinions of Knobias. Knobias is not a registered broker-dealer, nor investment advisor, and does not endorse or recommend any securities mentioned. This story is provided for informational purposes only and is not intended for trading purposes. Knobias shall not be liable for any actions taken in reliance of any information provided herein. Republication or redistribution of Knobias content is expressly prohibited without prior written consent of Knobias.com, LLC. ABOUT KNOBIAS: Knobias is a premier financial information provider of trading and investing data covering all U.S. equities for investors and security professionals. Knobias is best described by its three major components: Real-time desktop applications providing quotes, charts, level 2, analysis etc.; Knobias RAiDAR providing thousands of real-time news stories, alerts and documents daily; Knobias fundamentals providing a comprehensive database of fundamental research information. If your company wishes to participate in the EventX newswire, please contact Knobias: http://www.knobias.com Knobias.com, LLC 601-978-3399 601-978-3675 info@knobias.com www.knobias.com/cmtx For full details for TTP click here.
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