CORAL GABLES, Fla., Oct. 6 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. today announced that it has closed its previously announced registered direct offering of 3.97 million shares of its common stock to institutional investors at a price per share of $1.00, representing gross proceeds of $3.97 million.
The shares were offered by Catalyst pursuant to a shelf registration statement filed with the Securities and Exchange Commission that was declared effective on June 26, 2008. Rodman & Renshaw, LLC acted as the exclusive placement agent and Merriman Curhan Ford served as a financial advisor to Catalyst with respect to the transaction.
Among the investors in the offering is Federated Kaufmann Funds.
The shares of common stock may only be offered by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus can be obtained from the SEC's website at http://www.sec.gov/.
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Catalyst Pharmaceutical Partners
Catalyst Pharmaceutical Partners, Inc. is a biopharmaceutical company focused on the development and commercialization of prescription drugs targeting diseases of the central nervous system with a focus on the treatment of addiction and obsessive-compulsive disorders. The Company has obtained from Brookhaven National Laboratory an exclusive worldwide license for nine patents in the United States relating to the right to use vigabatrin to treat a wide variety of substance addictions and obsessive-compulsive disorders. Catalyst has also been granted rights to Brookhaven's vigabatrin-related foreign patents or patents pending in more than 30 countries. The Company's initial product candidate based on vigabatrin is CPP-109. CPP-109 has been granted "Fast Track" status by the U.S. Food & Drug Administration (FDA) for the treatment of cocaine addiction. This indicates that the FDA has recognized that CPP-109 is intended for the treatment of a serious or life-threatening condition for which there is no effective treatment and which demonstrates the potential to address unmet medical needs. Catalyst has also recently been granted worldwide rights to another patented drug, CPP-115, by Northwestern University. The Company intends to pursue development of this drug for several indications, including stimulant addiction and epilepsy. For more information about the Company, go to http://www.catalystpharma.com/.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. A number of factors, including those described in the Company's filings with the U.S. Securities and Exchange Commission (SEC), could adversely affect the Company. Copies of the Company's filings with the SEC are available from the SEC, may be found on the Company's website or may be obtained upon request from the Company. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.
Catalyst Pharmaceutical Partners, Inc.
CONTACT: Patrick McEnany, Chief Executive Officer, Catalyst
Pharmaceutical Partners, Inc., +1-305-529-2522,
mailto:pmcenany@catalystpharma.com; or Melody Carey, Rx Communications Group
Co-President, +1-917-322-2571, mcarey@rxir.com
Web Site: http://www.catalystpharma.com/
