Titan Pharmaceuticals, Inc. common stock (NASDAQ: TTNP) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company is benefiting from a political move made by President Donald Trump. Today, we’ll talk about:
- Why TTNP is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why TTNP Is Headed Up
As mentioned above, Titan Pharmaceuticals is having an incredibly strong start to the trading session this morning after news broke from the Trump Administration. Essentially, news broke that President Donald Trump would be signing a bill today in order to help put a stop to the opiod crisis in the United States.
This is great news for TTNP. That’s because its product the PROBUPHINE Implant has been approved to treat patients that are suffering from an opiod addiction. While the details of the bill are not yet available, there’s one thing that we do know. Chances are that with the signing of the bill will come grants and funding for biotechnology companies that are working to fight to opiod epidemic in the United States.
At the end of the day, while the PROBUPHINE Implant is being studied for various indications, it is already approved to treat opiod addictions. So, chances are that Trump signing the opiod bill will lead to stronger sales, offering TTNP the opportunity to generate stronger revenue.
What We’re Seeing From The Stock
As investors, one of the first key lessons that we learn is that it’s important to watch the news closely. After all, the news is known to move the market. In the case of Titan Pharmaceuticals, the news wasn’t company specific, but it was overwhelmingly positive. The truth is that the new opiod bill will likely lead to stronger revenue opportunities for the company in the future. So, it’s not surprising to see that excited investors are doing what they can to push the stock toward the top in the market this morning. At the moment (8:49), TTNP is trading at $0.57 per share after a gain of $0.086 per share or 17.90% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TTNP. In particular, we’re interested in following the story surrounding the company’s PROBUPHINE implant and the sales of the treatment following the signing of the opiod bill. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!