| Source: Activist Investing LLC
NEW YORK, June 10, 2022 (GLOBE NEWSWIRE) -- David E. Lazar, Chief Executive Officer of Activist Investing LLC (together with its affiliates, “Activist Investing” or “we”), one of the largest stockholders of Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) (“TTNP” or the “Company”) with 9.9% of the Company’s outstanding shares, today issued the following statement:
“As disclosed in our initial Schedule 13D filing in April 2022, we continue to engage in discussions with the Board of Directors and management concerning the Company’s strategic alternatives. As a result of our belief in the prospects of the Company and its ability to unlock significant stockholder value through a strategic transaction, we filed an amendment to our Schedule 13D yesterday disclosing an increase in our already sizeable position in the Company to 9.9% of TTNP’s outstanding shares. We remain hopeful that the Company’s strategic review will result in a positive outcome that is in the best interest of all TTNP stockholders.”
About Activist Investing
Activist Investing LLC is an investment fund specializing in reverse merger and other event-driven opportunities. Its Chief Executive Officer, David E. Lazar, brings domestic and international experience in operations, accounting, audit preparation, due diligence, capital restructuring, debt financing, and mergers and acquisitions.
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David E. Lazar