David, The TTP warrants (AMEX: symbol TTP_t) are described in the notes to the financial statements (at page F-17) in Titan's 1997 annual report (10-K, 3/31/98):
"WARRANTS
"At December 31, 1997, the Company had a total of 7,507,244 warrants outstanding to purchase common stock, at a weighted average exercise price of $6.07. Such warrants expire from November 1998 to January 2001. The warrants include 7,031,986 Class A warrants issued during 1996 in connection with the IPO, repayment of a bridge financing and the Private Placement. They entitle the holder to purchase one share of common stock at an exercise price of $6.20, subject to adjustment in certain circumstances, at any time for a period of five years."
edgar-online.com
The annual report also has this concerning TTP's Pivanex (p. 3):
"PIVANEX-TM-- LUNG CANCER
"Pivanex, is derived from a patented analog of butyric acid, and has demonstrated in laboratory tests the ability to destroy cancer cells through the mechanism of cellular differentiation. Traditional cytotoxic
chemotherapeutics tend to kill cancer cells preferentially because cancer cells divide more often and more rapidly than most normal cells. Unfortunately, such agents may also kill rapidly dividing normal cells, including blood cells and cells of the intestine lining, which leads to side effects such as anemia, nausea, vomiting and risk of infection. Unlike traditional cytotoxic chemotherapy, differentiation therapy represents a relatively new direction in cancer research, and involves the development of agents that, in contrast to the function of cytotoxic agents, induce cancer cells to differentiate, mature and exhibit more normal growth properties. Differentiation therapy may also lead to apoptosis, or what is known as normal "programmed cell death," resulting in the destruction of the cancer cells while sparing normal cells. Pivanex is currently completing Phase I clinical trials and has already demonstrated a partial response in a non-small cell lung cancer patient. During 1998, the Company is planning to initiate Phase II studies in patients with non-small cell lung cancer." [As MZ notes in Reply 239, TTP is now well along in this large Phase II.]
-- RCM |
