TITAN PHARMACEUTICALS INC — Director's Dealing 2004

Sep 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TITAN PHARMACEUTICALS INC (TTP)
CIK: 0000910267
Period of Report: 2004-09-01

Reporting Person: BUCALO LOUIS R MD (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-01	Stock Option (Right to Buy)	$2.37	A	15000	Acquired	2014-09-01	Common Stock (15000)	Direct
2004-09-01	Stock Option (Right to Buy)	$2.37	A	15000	Acquired	2014-09-01	Common Stock (15000)	Direct

Footnotes

F1: These options vest in equal monthly installments over a 48-month period commencing on the date of grant.

F2: These options vest in equal installments over a 12-month period commencing on the date of grant.