[Federal Register: March 19, 1999 (Volume 64, Number 53)]
[Notices]               
[Page 13619-13620]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19mr99-129]

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SECURITIES AND EXCHANGE COMMISSION

 
Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration; (Titan Pharmaceuticals, Inc., Units (consisting of 1 
share of Common Stock, $.001 par value, and 1 Redeemable Class A 
Warrant)) File No. 1-13341

March 15, 1999.
    Tital Pharmaceuticals, Inc. (``Company'') has filed an application 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and 
Rule 12d2-2(d) promulgated thereunder, to withdraw the above specified 
security (the ``Units'') from listing and registration on the Pacific 
Exchange, Inc. (``PCX'' or ``Exchange'').
    The reasons cited in the application for withdrawing the Units from 
listing and registration include the following:

[[Page 13620]]

    The Company's shares of Common Stock, $.001 par value (``Common 
Stock''); Redeemable Class A Warrants (``Warrants''); and Units are 
currently listed for trading on the PCX. In addition, the Company's 
Common Stock and Warrants are listed for trading on the American Stock 
Exchange LLC. The Units were originally issued in the Company's initial 
public offering. Immediately upon the effectiveness of the initial 
public offering, the components of the Units, i.e., the Common Stock 
and Warrants, began trading separately. Currently, the Units may be 
assembled or disassembled without restriction. An investor may create a 
Unit by combining one share of Common Stock and one Warrant; 
conversely, a Unit may be split into one share of Common Stock and one 
Warrant. The Company believes that the Units do not now serve a 
significant market function, but instead lead to additional compliance 
costs, investor confusion, and create arbitrage opportunities that 
negatively impact the value of the Common Stock.
    The Company has complied with the rules of the PCX by filing with 
the Exchange a certified copy of resolutions adopted by the Company's 
Board of Directors authorizing withdrawal of its Units from listing on 
the Exchange and by setting forth in detail to the Exchange the reasons 
for such proposed withdrawal, and the facts in support thereof.
    The Exchange has informed the Company that is has no objection to 
the withdrawal of the Company's Units from listing on the Exchange.
    Any interested person may, on or before April 5, 1999, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW, Washington, DC 20549, facts bearing upon whether the 
application has been made in accordance with the rules of the Exchange 
and what terms, if any, should be imposed by the Commission for the 
protection of investors.
    The Commission, based on the information submitted to it, will 
issue an order granting the application after the date mentioned above, 
unless the Commission determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-6789 Filed 3-18-99; 8:45 am]
BILLING CODE 8010-01-M