Titan Pharma (TTNP) Prices 19.44M Share Registered Direct Offering at $0.14/Sh

Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) today announced it has entered into a share purchase agreement with certain accredited institutional investors to purchase 19,440,000 shares of its common stock in a registered direct offering at a purchase price of $0.14 per share.

Titan expects the net proceeds from the offering to be approximately $2.5 million after deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about September 28, 2020, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering

The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-230742), which was declared effective by the United States Securities and Exchange Commission ("SEC") on April 24, 2019.

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