Titan Pharmaceuticals, Inc.

Biopharmaceutical company announces sale of common stock

Published in Cardiovascular Device Liability Week, April 25th, 2004

Titan Pharmaceuticals, Inc., (TTP) has obtained binding commitments from a number of select institutional investors and an individual investor to purchase approximately three million shares of its common stock at a price of $5.00 per share, for gross proceeds in excess of $15 million.

The shares are being offered under the company's effective shelf registration statement previously filed with the Securities and Exchange Commission. Rodman & Renshaw, LLC, acted as placement agent for the offering.

The proceeds of the financing will be used for research and product development activities, as well as for general corporate purposes.

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Source: Cardiovascular Device Liability Week (2004-04-25)

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