Stock Alert: Titan Pharmaceuticals Rises 18%

(RTTNews) - Shares of Titan Pharmaceuticals, Inc. (TTNP) are currently gaining over 18% after the company announced positive early study results from its JT-09 ProNeura development program.

TTNP is currently trading at $3.75, up $0.59 or 18.67%, on the Nasdaq.

Titan Pharmaceuticals said studies of its kappa opioid agonist peptide, JT-09, has demonstrated high potency and specificity for the human kappa-opioid receptor. JT-09 is being developed for use in combination with Titan's ProNeura long-term, continuous drug delivery technology for the treatment of moderate-to-severe chronic pruritus.

"Pilot pharmacokinetic studies in rats previously indicated that subcutaneous placement of ProNeura implants containing JT-09 could deliver potentially therapeutic concentrations of this KOR agonist for up to six months or longer," said Kate Beebe DeVarney, Ph.D., President and Chief Operating Officer of Titan.

Chronic pruritus is an unpleasant sensation resulting in a need to scratch that lasts more than 6 weeks.