Capricor Therapeutics Reports First Quarter 2021 Financial Results and Provides Corporate Update -- -Requested Meeting with FDA to Discuss Next Steps in Development of CAP-1002 for Duchenne Muscular Dystrophy- -Data for

Capricor Therapeutics Reports First Quarter

Results and Provides Corporate Update

-Requested Meeting with FDA to Discuss Next Steps

in Development of CAP-1002 for Duchenne Muscular Dystrophy-

-Data for Phase II INSPIRE Clinical Trial Expected

-Plan to File IND for Multivalent Exosome-mRNA

Vaccine for SARS-CoV-2 in Third Quarter-

-To Host Conference Call and Webcast Today at 4:30 p.m. ET-

ANGELES, CA May 13, 2021 (GLOBE NEWSWIRE) -- Capricor Therapeutics (NASDAQ:

CAPR), a biotechnology company focused on the development of transformative cell- and exosome-based therapeutics for the treatment and

prevention of a broad spectrum of diseases, today reported its financial results for the first quarter ended March 31, 2021, and provided

an overview of its recent operational highlights. Management will host a webcast and conference call at 4:30 p.m. today after market.

"In the first quarter, we made significant

progress across our clinical and preclinical programs. Most notably, we recently executed an exclusive, worldwide licensing agreement

with Johns Hopkins University which allows Capricor to continue the expansion of our engineered exosome platform technology," said

Linda Marb n, Ph.D., CEO, Capricor Therapeutics. In parallel, we have several ongoing high-level discussions with potential collaborators

as well as the FDA to evaluate all potential paths towards commercialization of our DMD program. While this evaluation is ongoing, we

are encouraged by the continued interest and we look forward to updating investors in the quarter ahead. Lastly, we continue to make progress

in enrollment of our INSPIRE clinical trial treating severe COVID-19 patients and look forward to sharing top-line data in the third quarter."

Dr. Marb n continued, "Capricor has

worked diligently to build our exosome platform to deliver biologics, primarily nucleic acids. We have launched our platform which will

include vaccines, treatment of monogenic diseases, as well as other targets. We are excited to continue the expansion of our RNA-exosome

platform into other therapeutic indications where delivery has proved challenging and look forward to sharing more updates as we move

First Quarter 2021 Highlights and Recent Corporate Developments:

Anticipated Milestones and Events

Financial Results for First Quarter 2021

The Company reported a net loss

of approximately $5.2 million, or $0.23 per share, for the first quarter of 2021, compared to a net loss of approximately $2.1 million,

or $0.30 per share, for the first quarter of 2020.

As of March 31, 2021, the Company's

cash and cash equivalents totaled approximately $41.9 million, compared to approximately $32.7 million on December 31, 2020. Additionally,

in the first quarter of 2021, Capricor raised approximately $12.6 million in net proceeds through issuances of common stock at an average

price of approximately $5.85 per share under its at-the-market offering program.

Capricor believes that based on the current operating

plan and financial resources, the Company expects that the cash, cash equivalents and marketable securities will be sufficient to cover

expenses and capital requirements through at least the second quarter of 2023.

Conference Call and Webcast

in the conference call, please dial 877-451-6152 (Domestic/Toll-Free) or 201-389-0879 (International) and reference the conference ID:

13719513. To participate via a webcast, please visit: http://public.viavid.com/index.php?id=144798

be archived for approximately 30 days and will be available at http://capricor.com/news/events/.

About Capricor Therapeutics

Therapeutics, Inc. (NASDAQ: CAPR) is a biotechnology company focused on the development of transformative cell- and exosome-based therapeutics

and vaccines for the treatment and prevention of a broad spectrum of diseases. Capricor's lead candidate, CAP-1002, is an allogeneic

cardiac-derived cell therapy that is currently in clinical development for the treatment of Duchenne muscular dystrophy and the cytokine

storm associated with COVID-19. Capricor is also developing our exosomes platform technology as a next-generation therapeutic platform.

Our current focus is on the development of exosomes loaded with nucleic acids, including mRNA, to treat or prevent a variety of diseases.

For more information, visit www.capricor.com and follow the Company on Facebook, Instagram and Twitter.

Cautionary Note Regarding Forward-Looking Statements

in this press release regarding the efficacy, safety, and intended utilization of Capricor's product candidates; the initiation, conduct,

size, timing and results of discovery efforts and clinical trials; the pace of enrollment of clinical trials; plans regarding regulatory

filings, future research and clinical trials; regulatory developments involving products, including the ability to obtain regulatory approvals

or otherwise bring products to market; plans regarding current and future collaborative activities and the ownership of commercial rights;

scope, duration, validity and enforceability of intellectual property rights; future royalty streams, revenue projections; expectations

with respect to the expected use of proceeds from the recently completed offerings and the anticipated effects of the offerings; and any

other statements about Capricor's management team's future expectations, beliefs, goals, plans or prospects constitute forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical

fact (including statements containing the words "believes," "plans," "could," "anticipates," "expects,"

"estimates," "should," "target," "will," "would" and similar expressions) should also

be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ

materially from those indicated by such forward-looking statements. More information about these and other risks that may impact Capricor's

business is set forth in Capricor's Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the Securities and Exchange

Commission on March 15, 2021. All forward-looking statements in this press release are based on information available to Capricor as of

the date hereof, and Capricor assumes no obligation to update these forward-looking statements.

is an Investigational New Drug and is not approved for any indications. None of Capricor's exosome-based candidates have been approved

for clinical investigation.

For more information, please contact:

Caitlin Kasunich / Raquel Cona

KCSA Strategic Communications

ckasunich@kcsa.com / rcona@kcsa.com

212.896.1241 / 212.896.1204

LifeSci Advisors, LLC

AJ Bergmann, Chief Financial Officer

CAPRICOR THERAPEUTICS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE

CAPRICOR THERAPEUTICS, INC.

SUMMARY BALANCE SHEETS