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Biotech / Medical : TITAN PHARMACEUTICAL (TTP) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (20)	3/2/1998 2:27:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 362

10-K, 3/31/97...... "Effective December 31, 1996, Titan entered into the HMR Agreement pursuant to which the Company agreed to pay HMR an upfront license fee of $9,500,000, payable as follows: (i) $2,000,000 in cash on January 20, 1997; (ii) the issuance $5,500,000 of common stock (594,595 shares) on January 20, 1997; (iii) and $2,000,000 in cash on July 18, 1997. During the period from September 1997 through January 1999, the Company shall be obligated to pay to HMR the difference between $5.5 million and the net proceeds, if any, received by HMR upon sale of the above mentioned common stock."