TITAN PHARMACEUTICALS INC: Nasdaq/NYSE listing notice — Titan Pharma receives Nasdaq delisting notice; raises $9.5M via convertible preferred stock

September 13, 2023, the Company received a determination letter (the “Determination Letter”) from the Staff stating that it had not regained compliance with Listing Rule 5550(a)(2) and is not eligible for a second 180 day period to regain compliance. Unless the Company requests an appeal of this determination, the trading of the Company’s common stock will be suspended at the opening of business on September 22, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq St

April 5, 2023, the Company received a notice from the Staff notifying the Company that the Company’s stockholders’ equity, as reported in its Annual Report on Form 10-K for the period ended December 31, 2022, did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1) for The Nasdaq Capital Market, which requires that a listed company’s stockholders’ equity be at least $2,500,000 (the “Equity Rule”). Based on the Company’s representations, on June 5, 2023, the Staff granted the Company an extension until October 2, 2023 to regain compliance with the Equity Rule. Howe

David Lazar and Peter Chasey submitted their resignations from the Company’s Board of Directors

David Lazar and Peter Chasey submitted their resignations from the Company’s Board of Directors

On September 13, 2023, Titan Pharmaceuticals, Inc. ("Titan" or the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with The Sire Group Ltd. ("Sire Group" or the "Investor"), pursuant to which the Company has agreed to issue 950,000 shares of Series AA Convertible Preferred Stock, par value $0.001 per share (the "Series AA Preferred Stock") to the Investor at a price of $10.00 per share, for an aggregate purchase price of $9,500,000 (the "Private Placement").