<SEC-DOCUMENT>0001144204-15-070178.txt : 20151210
<SEC-HEADER>0001144204-15-070178.hdr.sgml : 20151210
<ACCEPTANCE-DATETIME>20151209173829
ACCESSION NUMBER:		0001144204-15-070178
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151209
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151210
DATE AS OF CHANGE:		20151209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TITAN PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000910267
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				943171940
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13341
		FILM NUMBER:		151279188

	BUSINESS ADDRESS:	
		STREET 1:		400 OYSTER POINT BLVD
		STREET 2:		SUITE 505
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		4152444990

	MAIL ADDRESS:	
		STREET 1:		400 OYSTER POINT BLVD
		STREET 2:		SUITE 505
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>v426648_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C.&nbsp; 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of Earliest Event Reported):
December 9, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Titan Pharmaceuticals, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Delaware</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or other jurisdiction of incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <td style="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><b>001-13341</b></td>
    <td style="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>94-3171940</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif">(Commission File Number) </font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&nbsp;(IRS Employer Identification No.) </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #3B3B3B">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>400 Oyster Point Blvd., Suite 505, South
San Francisco, CA</B><FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT><B>94080</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices
and zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
<B>(650) 244-4990</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s former name or former
address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12(b) under
the Exchange Act (17 CFR 240.14a-12(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;8.01.&nbsp;&nbsp;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 9, 2015, Titan Pharmaceuticals, Inc. issued a press
release announcing that the U.S. Food and Drug Administration has scheduled a meeting of the Psychopharmacologic Drugs Advisory
Committee (PDAC) on Jan. 12, 2016 to review the New Drug Application for Probuphine&reg; for the maintenance treatment of opioid
addiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A copy of the press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item&nbsp;9.01. </B>&nbsp;<B>Financial
Statement and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&nbsp; Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Exhibit No.</font></td>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="width: 89%; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Description</font></td></tr>
<tr>
    <td style="text-align: center">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif">99.1</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-family: Times New Roman, Times, Serif">Press Release dated December 9, 2015</font></td></tr>
</table>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 thereunto duly authorized.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4in">TITAN PHARMACEUTICALS, INC.<BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4in"><BR>
By:&#9;<U>/s/ Sunil Bhonsle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U><BR>
Name: Sunil Bhonsle<BR>
Title: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: December 9, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 283.5pt; text-indent: -283.5pt">&nbsp;</P>



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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 15%"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 85%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 12pt"><b>Titan Pharmaceuticals, Inc</b></font><b><font style="font: 10pt Times New Roman, Times, Serif">.</font></b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
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<P STYLE="margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif; color: Red"></P>

<P STYLE="margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TITAN PHARMACEUTICALS AND BRAEBURN PHARMACEUTICALS
ANNOUNCE DATE OF FDA ADVISORY COMMITTEE REVIEW OF PROBUPHINE FOR OPIOID ADDICTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SOUTH
SAN FRANCISCO, CA &ndash; December 9, 2015</B></FONT> &ndash; Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) and partner Braeburn
Pharmaceuticals today announced that the U.S. Food and Drug Administration has scheduled a meeting of the Psychopharmacologic
Drugs Advisory Committee (PDAC) on Jan. 12, 2016 to review the New Drug Application (NDA) for Probuphine&reg; for the maintenance
treatment of opioid addiction. The meeting notice appears in today&rsquo;s Federal Register and can be found at <FONT STYLE="color: Blue"><U>http://federalregister.gov/a/2015-30970</U></FONT>.
The NDA was resubmitted to the FDA in August 2015, and accepted by the FDA in September 2015. An agency action date has been set
for Feb. 27, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&quot;The data from the final phase 3 trial, which was designed
in collaboration with the FDA in response to questions raised in the complete response letter, is compelling and we look forward
to presenting it on January 12,&quot; said Braeburn Pharmaceuticals President and CEO Behshad Sheldon. &quot;More long-term treatments
are needed to help people stay in recovery, and we remain excited about the potential for Probuphine to be the first of many new
options for people with opioid addiction.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;The Braeburn team has been interacting closely with the
FDA, and we continue to support&nbsp;them as the Probuphine NDA advances,&quot; said Titan Pharmaceuticals President Sunil Bhonsle.
&quot;We look forward to a successful meeting.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Probuphine&reg;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Probuphine is an investigational subdermal implant designed
to deliver buprenorphine continuously for six months following a single treatment, and to promote patient compliance and retention.
Buprenorphine, which is the active ingredient in multiple FDA-approved drug products for the treatment of opioid addiction, is
currently available in tablet and film formulations that require self-administration by patients on a daily basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Probuphine was developed using ProNeura&trade;, Titan's continuous
drug delivery system that consists of a small, solid implant made from a mixture of ethylene-vinyl acetate (EVA) and a drug substance.
The resulting construct is a solid matrix that is placed subdermally, normally in the upper arm in an outpatient office procedure,
and removed in a similar manner at the end of the treatment period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The efficacy and safety of Probuphine has been studied in several
clinical trials, including the double blind, double dummy final Phase 3 study, which provided positive results (announced June
2015) in the comparison of maintenance treatment with Probuphine to maintenance treatment with daily sublingual buprenorphine in
stable patients receiving a daily dose of 8mg or less of buprenorphine; the previously reported 163-patient, placebo-controlled
study over a 24-week period (published in the <I>Journal of the American Medical Association </I>(JAMA)), and a follow-on study
of 287 patients (published in the journal <I>Addiction</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Opioid Addiction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">According to recent estimates, there are 2.4 million people
with opioid addiction in the U.S. Approximately 20 percent of this population is addicted to illicit opioids, such as heroin, and
the other 80 percent to prescription opioids, such as oxycodone, hydrocodone, methadone, hydromorphone and codeine. Before the
year 2000, medication-assisted therapies for opioid dependence had been sanctioned to a limited number of facilities in the U.S.
The Drug Addiction Treatment Act of 2000 (DATA 2000) allowed medical office-based treatment of opioid dependence and greatly expanded
patient access to medication-assisted treatments. Sales of buprenorphine drug products for treatment of opioid addiction in 2014
were approximately $1.75 billion in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Titan Pharmaceuticals</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Titan Pharmaceuticals Inc. (NASDAQ: TTNP), based in South San
Francisco, CA, is a specialty pharmaceutical company developing proprietary therapeutics primarily for the treatment of serious
medical disorders. The company&rsquo;s lead product candidate is Probuphine&reg;, a novel and long-acting formulation of buprenorphine
for the long-term maintenance treatment of opioid dependence. Probuphine employs Titan&rsquo;s proprietary drug delivery system
ProNeura&trade;, which is capable of delivering sustained, consistent levels of medication for three months or longer. Titan has
granted U.S. and Canadian commercial rights for Probuphine to Braeburn Pharmaceuticals. If approved, Probuphine would be 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. The ProNeura technology has the potential to be used in developing products for treating
other chronic conditions, such as Parkinson&rsquo;s disease, where maintaining consistent blood levels of a therapeutic agent
may benefit the patient and improve medical outcomes. For more information about Titan, please visit <FONT STYLE="color: Blue"><U>www.titanpharm.com</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Braeburn Pharmaceuticals</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Braeburn Pharmaceuticals, an Apple Tree Partners company, is
a pill-free pharmaceutical company delivering precision medicine in neuroscience. In September 2015 the Food and Drug Administration
(FDA) accepted for review Braeburn&rsquo;s New Drug Application for its lead candidate, Probuphine<SUP>&reg;</SUP>, a six-month
buprenorphine implant for treatment of opioid addiction. The Agency set February 27, 2016 as the target date for action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.35in; text-indent: -65.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Long-acting therapeutic treatment options can be essential
to improving patient outcomes and facilitating recovery in these conditions, which are often complicated by stigma and present
significant public health challenges. Braeburn&rsquo;s investigational product pipeline consists of long-acting implantable and
injectable therapies for serious neurological and psychiatric disorders, including opioid addiction, pain, and schizophrenia.
Candidates include: Probuphine<SUP>&reg;</SUP>, a six-month buprenorphine implant for treatment of opioid addiction; CAM2038,
weekly and monthly subcutaneous injection depot formulations of buprenorphine for treatment of opioid addiction and pain; a risperidone
six-month implant for treatment of schizophrenia; and a novel molecule, ATI-9242, for treatment of schizophrenia. More information
on Braeburn can be found at <FONT STYLE="color: Blue"><U>www.braeburnpharmaceuticals.com</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 37.5pt 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 37.5pt 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>This press release may contain &quot;forward-looking statements&quot;
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to our product development programs and any other statements that are
not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results,
financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations
include those risks and uncertainties relating to the regulatory approval process, the development, testing, production and marketing
of our drug candidates, patent and intellectual property matters and strategic agreements and relationships.&nbsp;We expressly
disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement
is based, except as required by law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CONTACT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">Titan Pharmaceuticals, Inc.:</FONT></TD>
    <TD STYLE="width: 75%"><FONT STYLE="font-size: 10pt">Braeburn Pharmaceuticals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Sunil Bhonsle, President</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Media Contact:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(650) 244-4990</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Sherry Feldberg</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">MSLGROUP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Investors:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;(781) 684-0770</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Stephen Kilmer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">braeburnpharma@mslgroup.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(650) 989-2215</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">skilmer@titanpharm.com</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Media:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Susan Thomas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(650) 989-2216</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">sthomas@titanpharm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
