Benzinga | Oct 28, 2020 04:12PM EDT

Why Titan Pharmaceuticals Stock Is Trading Higher Today

Titan Pharmaceuticals (NASDAQ:TTNP) shares are trading higher on Wednesday after the company announced a deal to buy JT Pharma Kappa Opioid with a gross proceeds of at least $8 million.

Titan Pharmaceuticals is a specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products. The company product pipeline consists of Probuphine for Opioid addiction, Ropinirole for Parkinson's disease, Triiodothyronine (T3) for hypothyroidism. It generates revenue principally from collaborative research and development arrangements, technology licenses, and government grants.

Titan Pharmaceuticals shares traded up 29.88% to 17 cents on Wednesday. The stock has a 52-week high of 54 cents and a 52-week low of 11 cents.