titan pharmaceuticals inc. is developing proprietary therapeutics primarily for the treatment of serious medical disorders. the company's lead product is probuphine®, the first and only commercialized treatment of opioid dependence to provide continuous, around-the-clock blood levels of buprenorphine for six months following a single procedure. it was approved by the u.s. food and drug administration in may 2016 and is being commercialized in the u.s. by partner braeburn pharmaceuticals. probuphine employs titan's proprietary drug delivery system proneura™, which is capable of delivering sustained, consistent levels of medication for up to 12 months. the proneura technology has the potential to be used in developing products for treating other chronic conditions such as parkinson's disease and hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes.