---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-002106"
form_type: "8-K"
ticker: null
cik: "0000910267"
company_name: "TITAN PHARMACEUTICALS INC"
filed_at: "2024-04-01T23:59:59+00:00"
generated_at: "2026-06-04T05:07:05.241944+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Titan Pharma restates Q3 2023 financials; $406K misclassified as operating expense

## Summary
- Board concluded Q3 2023 financials should no longer be relied upon due to material error.
- $406,000 incorrectly classified as issuance cost for Series AA Preferred Stock; should be operating expense.
- Restated financials for three and nine months ended Sep 30, 2023 will be included in 2023 10-K.
- Company expects to report at least one material weakness in internal controls due to the error.
- Error does not change cash position; discussions with auditor WithumSmith+Brown completed.

## SEC filing metadata
- accession: 0001829126-24-002106
- form_type: 8-K
- cik: 0000910267
- company_name: TITAN PHARMACEUTICALS INC
- filed_at: 2024-04-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910267/000182912624002106/0001829126-24-002106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910267/000182912624002106/titanpharma_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-002106
- JSON: https://secwatch.observer/filing/0001829126-24-002106.json
- Plain text: https://secwatch.observer/filing/0001829126-24-002106.txt

## Key facts
- Auditor Changes
  TITAN PHARMACEUTICALS INC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On April 1, 2024, the Board of Directors (the “Board”) of Titan Pharmaceuticals, Inc. (the “Company”), upon the recommendation of the Audit Committee of the Board and after considering the recommendations of management, concluded that our previously released financial statements for the quarterly period ended September 30, 2023 (the “Non-Reliance Period”) should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/910267/000182912624002106/0001829126-24-002106-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.