Capricor Therapeutics Reports Fourth Quarter and Full Year 2018 Financial Results and Provides Corporate Update Plan to Report Interim Data from HOPE-2 Clinical Trial in Early Q3 To Host Conference Call and Webcast Today

Capricor Therapeutics Reports Fourth

Quarter and Full Year 2018

Financial Results and Provides Corporate Update

Plan to Report Interim Data from HOPE-2

Clinical Trial in Early Q3

To Host Conference Call and Webcast Today

LOS ANGELES, March 28, 2019 - Capricor

Therapeutics (NASDAQ: CAPR), a clinical-stage biotechnology company focused on the development of first-in-class biological

therapeutics for the treatment of Duchenne muscular dystrophy and other rare disorders, today announced its financial results

for the fourth quarter and full year 2018 and provided a corporate update.

"This has been a busy year for Capricor

as we continue with the clinical development of CAP-1002, our lead cell therapy product, to treat Duchenne muscular dystrophy,"

said Linda Marb n, Ph.D., Capricor president and chief executive officer. "We began our HOPE-2 trial, were granted

RMAT designation and had a positive meeting with FDA late last year. To date, 20 young

men and boys in advanced stages of Duchenne muscular dystrophy have been enrolled in the randomized, double-blind, placebo-controlled

trial. We are now planning on conducting an interim analysis in early Q3 and look forward to sharing that data with the patient

and investor community."

Additionally, in 2018, Capricor entered

into a collaboration with the U.S. Army Institute of Surgical Research (USAISR), which is studying the potential for CAP-2003 to

address trauma-related injuries and conditions. CAP-2003 is comprised of proprietary extracellular vesicles, including exosomes,

which are derived from cardiosphere-derived cells. Exosomes are nano-sized, membrane-enclosed vesicles, that are secreted by cells

and contain bioactive molecules, including proteins, RNAs and microRNAs. Exosomes act as messengers to regulate the functions of

neighboring cells. Because of these unique capacities, researchers are increasingly viewing exosomes as both a potential therapeutic

and a vehicle to deliver gene and other therapies to targeted tissues in the human body.

"We are encouraged to see an increased

interest in exosomes in the field as a potential therapeutic and as a delivery vehicle for genes and other drugs to targeted tissues,"

said Dr. Marb n. "This exciting collaboration with USAISR may allow us to further the clinical development of CAP-2003

and we continue to work with them and other branches of the US military on potential future opportunities for continued development."

Fourth Quarter Highlights and Recent

Clinical and Operational Developments

Anticipated Events and Milestones in 2019

Fourth Quarter and Full Year Financial

For the fourth quarter of 2018, the company

reported a net loss of approximately $(3.3) million, or $(0.11) per diluted share, compared to, after giving effect to the forgiveness

of the California Institute of Regenerative Medicine (CIRM) loan payable, net income of approximately $12.3 million, or $0.42 per

diluted share, for the fourth quarter of 2017.

For the year ended December 31, 2018, the

company reported a net loss of approximately $(15.2) million, or $(0.52) per diluted share, compared to, after giving effect to

the forgiveness of the CIRM loan payable, net income of approximately $2.4 million, or $0.09 per diluted share, for the year ended

December 31, 2017. As of December 31, 2018, the company's cash, cash equivalents and marketable securities totaled approximately

$7.3 million compared to approximately $14.1 million on December 31, 2017. Additionally, in 2018, Capricor raised approximately

$6.7 million in net proceeds at an average price of approximately $1.48 per share under its at-the-market offering program.

Capricor believes that its current financial

resources should be sufficient to fund its operations and meet its financial obligations into the fourth quarter of 2019 based

on the Company's current projections.

Conference Call and Webcast

To participate in the conference call, please dial 866-717-4562

(domestic) or 210-874-7812 (international) and reference the access code: 7167797.

To participate via a webcast, please visit: https://edge.media-server.com/m6/p/zkf3ocjd.

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

About Capricor Therapeutics

Capricor Therapeutics, Inc. (NASDAQ:CAPR)

is a clinical-stage biotechnology company focused on the discovery, development and commercialization of first-in-class biological

therapeutics for the treatment of rare disorders. Capricor's lead candidate, CAP-1002, is an allogeneic cell therapy that

is currently in clinical development for the treatment of Duchenne muscular dystrophy. Capricor has also established itself as

one of the leading companies investigating the field of extracellular vesicles and is exploring the potential of CAP-2003, a cell-free,

exosome-based candidate, to treat a variety of disorders. The HOPE-Duchenne trial was funded in part by the California Institute

for Regenerative Medicine. For more information, visit www.capricor.com. Keep up with

Capricor on social media: www.facebook.com/capricortherapeutics, www.instagram.com/capricortherapeutics/

and https://twitter.com/capricor

Cautionary Note Regarding Forward-Looking Statements

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, 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, 2017 as filed with the Securities and Exchange Commission on March 22, 2018, in its Registration Statement on Form S-3, as

filed with the Securities and Exchange Commission on September 28, 2015, together with the prospectus included therein and prospectus

supplements thereto and in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, as filed with the Securities

and Exchange Commission on November 14, 2018. 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.

CAP-1002 is an Investigational New Drug

and is not approved for any indications. CAP-2003 has not yet been approved for clinical investigation.

CAPRICOR THERAPEUTICS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

CAPRICOR THERAPEUTICS, INC.

SUMMARY BALANCE SHEETS

For more information, please contact:

AJ Bergmann, Chief Financial Officer