TITAN PHARMACEUTICALS INC — Director's Dealing 2007

Jan 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TITAN PHARMACEUTICALS INC (AMEX - TTP)
CIK: 0000910267
Period of Report: 2007-01-03

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-03	Option to Purchase Common Stock	$3.13	A	115000	Acquired	2017-01-03	Common Stock (115000)	Direct

Footnotes

F1: Options to purchase 50% of the shares vest on January 2, 2008 and the remaining options to purchase 50% of the shares vest in twelve equal monthly installments beginning on February 2, 2008.