Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act 1934

Date of Report (Date of earliest event reported): November 25, 2008

Titan Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   001-13341   94-3171940
(State or Other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer Identification No.)

 

400 Oyster Point Blvd., Suite 505, South San Francisco, CA   94080
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: 650-244-4990

 

(Former Name or Former Address, is Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8.01. Other Events.

On December 2, 2008, Titan Pharmaceuticals, Inc. issued a press release announcing an approximately 40% reduction in its workforce. Further staff reductions are anticipated during the next several weeks as operations are reduced to the minimal level necessary to enable the Company to continue its efforts to realize the potential value of its assets, particularly the Probuphine program. The press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.

  

Description

99.1    Press Release dated December 2, 2008


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

TITAN PHARMACEUTICALS, INC.

By:  

/s/ Marc Rubin

  Marc Rubin, Chief Executive Officer

Dated: December 2, 2008


EXHIBIT INDEX

 

Exhibit No.

  

Description

99.1    Press Release dated December 2, 2008