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                      Oyster Point Blvd., Suite 505, South San Francisco, CA</font></div>
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                    <td align="left" valign="top" width="50%">
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:</font></div>
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    <div>&#160;</div>
    <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      3.02.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Unregistered
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      December 20, 2005, Titan Pharmaceuticals, Inc. (the &#8220;Company&#8221;) sold 403,356
      shares of its common stock to Cornell Capital Partners, L.P. (&#8220;Cornell&#8221;) under
      the terms of the Standby Equity Distribution Agreement dated September 28,
      2005
      (&#8220;the Agreement&#8221;) currently in effect, for aggregate gross proceeds of $500,000,
      or $1.2396 per share. The per share price was the daily volume weighted average
      price of the Company&#8217;s common stock on December 14, 2005 which was the lowest
      average price during the five trading days following the draw-down notice to
      Cornell, as set forth in the Agreement. In connection with the issuance, the
      Company paid Cornell a fee of $25,000 and Yorkville Advisors Management, LLC
      a
      fee of $500. The shares were issued pursuant to the exemption from registration
      contained in Section 4(2) of the Securities Act of 1933, as amended, and the
      regulations promulgated thereunder, because the shares were issued to a
      sophisticated entity in a private transaction.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
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          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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            <td colspan="2">
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                PHARMACEUTICALS, INC.</font></div>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
              <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">December
              27, 2005</font></font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td>/s/ <font size="2">Robert E. Farrell</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
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          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td>
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                Chief Financial Officer</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 180pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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{"company-data": {"conformed-name": "TITAN PHARMACEUTICALS INC", "cik": "0000910267", "assigned-sic": "2836", "irs-number": "943171940", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13341", "film-number": "051286765"}, "business-address": {"street1": "400 OYSTER POINT BLVD", "street2": "SUITE 505", "city": "SAN FRANCISCO", "state": "CA", "zip": "94080", "phone": "4152444990"}, "mail-address": {"street1": "400 OYSTER POINT BLVD", "street2": "SUITE 505", "city": "SAN FRANCISCO", "state": "CA", "zip": "94080"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of
the
      Securities Exchange Act 1934
Date
      of
      Report (Date of earliest event reported): December 20, 2005
Titan
      Pharmaceuticals, Inc.
(Exact
      Name of Registrant as Specified in Charter)
Delaware
0-27436
94-3171940
(State
                    or Other Jurisdiction of Incorporation)
(Commission
                    File Number)
(IRS
                    Employer Identification No.)
400
                      Oyster Point Blvd., Suite 505, South San Francisco, CA
94080
(Address
                      of Principal Executive Offices)
(Zip
                      Code)
Registrant's
                      telephone number, including area code:
650-244-4990
(Former
                        Name or Former Address, is Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:
o
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
o
Soliciting
                material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
                240.14a-12(b))
o
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
o
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      3.02.
Unregistered
      Sales of Equity Securities.
On
      December 20, 2005, Titan Pharmaceuticals, Inc. (the "Company") sold 403,356
      shares of its common stock to Cornell Capital Partners, L.P. ("Cornell") under
      the terms of the Standby Equity Distribution Agreement dated September 28,
      2005
      ("the Agreement") currently in effect, for aggregate gross proceeds of $500,000,
      or $1.2396 per share. The per share price was the daily volume weighted average
      price of the Company's common stock on December 14, 2005 which was the lowest
      average price during the five trading days following the draw-down notice to
      Cornell, as set forth in the Agreement. In connection with the issuance, the
      Company paid Cornell a fee of $25,000 and Yorkville Advisors Management, LLC
      a
      fee of $500. The shares were issued pursuant to the exemption from registration
      contained in Section 4(2) of the Securities Act of 1933, as amended, and the
      regulations promulgated thereunder, because the shares were issued to a
      sophisticated entity in a private transaction.
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
TITAN
                PHARMACEUTICALS, INC.
Date:
December
              27, 2005
By:
/s/
Robert E. Farrell
Name:
              Robert E. Farrell
Title:
                Chief Financial Officer