On March 5, 2020 Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) reported that, since January 1, 2020, it has received proceeds of approximately $5.9 million as a result of the exercise of approximately 26.2 million previously issued Class B common share purchase warrants (the "Class B Warrants") (Press release, Titan Pharmaceuticals, MAR 5, 2020, View Source [SID1234555246]).

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The Class B Warrants were issued in connection with the Company’s public offering completed in October 2019. The Class B Warrants have an exercise price of $0.225 and are set to expire in October 2024. Approximately 14.1 Class B Warrants remain outstanding.

Sunil Bhonsle, Titan’s President and CEO, commented, "We have been very pleased to see this level of warrant exercises and believe that the proceeds received year-to-date will extend our cash runway into the fourth quarter as we continue to drive our commercial activities."