Titan anticipates second-quarter Fanapt royalty payment of $55,000

Titan Pharmaceuticals, Inc. (OTC Bulletin Board: TTNP) today reported that the company expects to receive a royalty payment of approximately $55,000 on second quarter 2010 sales of Fanapt (iloperidone) of approximately $693,000. This reflects a significant decrease from first quarter sales which, as is customary, included substantial initial product stocking in the distribution channels.

Prescriptions for Fanapt, an important indicator of market acceptance during product launch, showed a positive growth trend during the quarter according to analyst reports which showed that total weekly prescriptions for Fanapt grew from approximately 475 prescriptions/week at the end of March to about 1,210 prescriptions/week at the end of June.