Titan Pharmaceuticals files registration statement on Form 10 with SEC

Titan Pharmaceuticals, Inc. (Pink Sheets: TTNP) today announced that on January 14, 2010 it filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission ("SEC") in order to register its common stock under the Securities Exchange Act of 1934 ("Exchange Act"). This filing is part of the process necessary for the Company to become a reporting company again under the Exchange Act. This filing is subject to review by the SEC prior to becoming effective.

Titan President Sunil Bhonsle said, "Filing the Form 10 with the SEC is the first step in our initiative to resume being an Exchange Act reporting company and to move the trading of our common stock to the OTC Bulletin Board. We are very pleased with Titan's progress on several fronts during the last few months, and we look forward to providing quarterly updates upon completion of this registration process in the next few months."

"We are also very pleased with the recent launch of Fanapt™ by Novartis in the US, and we are on track to receive royalty revenue during the second quarter of 2010," said Marc Rubin, MD, Executive Chairman of Titan. "The Board continues to focus on potential strategies to maximize value for shareholders. I look forward to resuming participation in our quarterly updates," he added.