TITAN RECEIVES APPROVAL FOR SECOND YEAR OF NIDA GRANT FUNDING FOR DEVELOPMENT OF A NALMEFENE IMPLANT Changes in Grant Terms Result in Additional $2 Million Available to Titan for Nalmefene Project Expenses

TITAN RECEIVES APPROVAL FOR SECOND YEAR

OF NIDA GRANT FUNDING FOR DEVELOPMENT OF A NALMEFENE IMPLANT

Changes in Grant Terms Result in Additional

$2 Million Available to

Titan for Nalmefene Project Expenses

SOUTH SAN FRANCISCO, CA - September

18, 2019 - Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) today announced that the National Institutes of Health's National

Institute on Drug Abuse (NIDA) has approved approximately $6.1 million in second-year funding for Titan's non-clinical development

of a ProNeura based six-month implantable formulation of Nalmefene, an opioid antagonist, intended for the prevention of

relapse to opioid addiction, following opioid detoxification.

NIDA awarded Titan a two-year grant in

the amount of $6.7 million in September 2018 for the project, subject to satisfactory project progress, fund availability and certain

other conditions. The award for the first year, which ended August 31, 2019, was approximately $2.7 million. As a result of a change

in the grant award terms regarding company matching funds, the second-year award covers both the Federal and company match amounts

of the original year two award, thereby increasing the aggregate potential expense reimbursement to approximately $8.7 million.

"We believe our ProNeura technology

is well-suited to this approach to treating opioid addiction, so we are grateful for NIDA's ongoing support," said

Titan's President and CEO, Sunil Bhonsle. "As we continue to execute on the program's development milestones, we are

encouraged by the potential for additional NIDA grant funding for clinical development activities beyond the current grant's

end date of September 2020."

This second-year grant award provides funds

for the completion of implant formulation development, cGMP manufacturing and non-clinical studies which, if successful, are expected

to support the Company's submission of a Nalmefene six-month implant Investigational New Drug Application to the U.S. Food

and Drug Administration. Titan retains full commercial rights to the Nalmefene implant product.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP),

based in South San Francisco, CA, is a commercial stage company developing proprietary therapeutics with its ProNeura long-term,

continuous drug delivery technology. The company's lead product is Probuphine (buprenorphine) implant, a novel

and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence. Approved by the U.S.

Food and Drug Administration in May 2016, Probuphine is 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

also has the potential to be used in developing products for treating other chronic conditions such as Parkinson's disease and

hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve

medical outcomes. For more information about Titan, please visit www.titanpharm.com.

Probuphine is the only subdermal implant designed to deliver

buprenorphine continuously for six months following insertion.

Probuphine was developed using ProNeura , the continuous

drug delivery system developed by Titan that consists of a small, solid implant made from a mixture of ethylene-vinyl acetate 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. The U.S. Food and Drug Administration ("FDA")

approved Probuphine in May 2016, and it is the first and only buprenorphine implant available for the maintenance treatment of

opioid addiction in eligible patients.

IMPORTANT SAFETY INFORMATION INCLUDING INDICATION AND BOXED

PROBUPHINE is an implant that contains the medicine buprenorphine.

PROBUPHINE is used to treat certain adults who are addicted to (dependent on) opioid drugs (either prescription or illegal). PROBUPHINE

is indicated for the maintenance treatment of opioid dependence in patients who have achieved and sustained prolonged clinical

stability on low-to-moderate doses (doses no more than 8 mg per day) of a buprenorphine-containing product.

PROBUPHINE is part of a complete treatment program that also

includes counseling and behavioral therapy.

It is not known if PROBUPHINE is safe or effective in children

less than 16 years of age.

IMPORTANT SAFETY INFORMATION

WARNING: COMPLICATIONS FROM INSERTION

AND REMOVAL OF PROBUPHINE

See Full Prescribing Information for

complete Boxed Warning

Serious complications may happen from insertion and removal

of PROBUPHINE, including:

Call your healthcare provider right away if:

If the implant comes out by itself, keep it away from others,

especially children, as it may cause severe difficulty in breathing and possibly death.

Because of the risk of complications of, migration, protrusion,

expulsion and nerve injury with insertion and removal of PROBUPHINE, it is only available through a restricted program called the

PROBUPHINE REMS Program. Healthcare providers who prescribe and/or insert PROBUPHINE must be certified with the program by enrolling

and completing live training.

Implants may be difficult to locate if inserted too deeply,

if you manipulate them, or if you gain significant weight after insertion. Your healthcare provider may do special procedures or

tests, or refer you to a surgical specialist to remove the implants if they are difficult to locate.

The medicine in PROBUPHINE can cause serious and life-threatening

problems, especially if you take or use certain other medicines or drugs. Call your healthcare provider right away or get emergency

Feel faint or dizzy, have mental changes such as confusion,

slower breathing than you normally have, severe sleepiness, blurred vision, problems with coordination, slurred speech, cannot

think well or clearly, high body temperature, slowed reflexes, feel agitated, stiff muscles or have trouble walking.

These can be signs of an overdose or other serious problems.

Coma or death can happen if you take anxiety medicines or benzodiazepines,

sleeping pills, tranquilizers, or sedatives, antidepressants, or antihistamines, or drink alcohol during treatment with PROBUPHINE.

Tell your healthcare provider if you are taking any of these medicines or if you drink alcohol.

Who should not use PROBUPHINE?

Do not use PROBUPHINE if you are allergic to buprenorphine or

any of its ingredients, this includes buprenorphine hydrochloride and the inactive ingredient ethylene vinyl acetate or EVA.

PROBUPHINE may not be right for you. Before starting PROBUPHINE

tell your doctor about all of your medical conditions, including:

Trouble breathing or lung problems, an enlarged prostate gland

(men), a head injury or brain problem, problems urinating, a curve in your spine that affects your breathing, liver problems, gallbladder

or adrenal gland problems, Addison's disease, low thyroid hormone levels (hypothyroidism), a history of alcoholism, a history

of keloid formation, connective tissue disease (such as scleroderma), or history of MRSA infections, mental problems such as hallucinations,

an allergy to numbing medicines or medicines used to clean your skin, are pregnant or plan to become pregnant or are breastfeeding

or plan to breastfeed.

Tell your doctor about all the medicines you take, including

prescription and over-the-counter medicines, vitamins and herbal supplements.

What should I avoid while being treated with PROBUPHINE?

What are the possible side effects of PROBUPHINE?

PROBUPHINE can cause serious side effects, including:

Tell your healthcare provider if you develop any of the symptoms

Common side effects of PROBUPHINE include: Headache,

nausea, toothache, constipation, depression, vomiting, back pain, mouth and throat pain.

Common risks with the minor surgical procedure: Itching,

pain, irritation, redness, swelling, bleeding, or bruising at the insertion or removal site. Scarring around the insertion site.

Please read Full Prescribing Information,

including BOXED WARNING regarding IMPLANT MIGRATION, PROTRUSION, EXPULSION and NERVE DAMAGE ASSOCIATED WITH INSERTION