Why did TTNP's Q3 2023 EPS drop sharply?

The significant drop in Titan Pharmaceuticals' (TTNP) Q3 2023 EPS can be attributed to **Insider Transactions and Corporate Restructuring**. 1. **Insider Transactions**: The sale of 3,747,968 shares by CEO and 10% owner David Lazar on June 21, 2023, could signal a lack of confidence in the company's short-term prospects. Such insider sales might contribute to a negative perception among investors, potentially leading to a decline in EPS. 2. **Corporate Restructuring**: Titan Pharmaceuticals has undergone a strategic restructuring, including discontinuing U.S. Probuphine implant sales and winding down Probuphine commercialization activities. These changes likely had an adverse effect on the company's financial performance, resulting in a decrease in EPS. In summary, the combination of insider transactions and corporate restructuring likely contributed to the substantial drop in TTNP's Q3 2023 EPS. |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |TTNP|TTNP.O|Titan Pharmaceuticals|2023 Q1|-829.1666666666666|-2.23|186| |TTNP|TTNP.O|Titan Pharmaceuticals|2023 Q2|-1072.2222222222222|-2.11|186| |TTNP|TTNP.O|Titan Pharmaceuticals|2023 Q3|-150.00000000000003|-0.45|186|