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Catalyst Pharmaceutical Partners, Inc. Announces a $4.5 Million Registered Direct Common Stock Offering
Date:9/12/2008

CORAL GABLES, Fla., Sept. 12 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX), a biopharmaceutical company that acquires, in-licenses, develops and commercializes prescription drugs for the treatment of drug addiction and obsessive compulsive disorders, today announced that it has entered into definitive agreements with institutional investors to sell 1,488,332 shares of its common stock at a price of $3.00 per share in a registered direct common stock offering. Net proceeds are expected to be approximately $4.1 million after offering-related fees and expenses. Catalyst intends to use the proceeds from the offering to fund certain required non-clinical studies of CPP-109 for cocaine addiction, complete one or more pilot studies for other indications, which may include a study for binge-eating disorder, and for general corporate purposes.

Among the investors in the transaction is Federated Kaufmann Funds.

The transaction is expected to close on or about September 16, 2008, subject to satisfaction of customary closing conditions. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the offering.

Commenting on the offering, Patrick J. McEnany, President and CEO of Catalyst Pharmaceutical Partners said, "We are pleased to broaden our institutional investor base, increase market float and potential trading volume and shareholder liquidity, and develop important new relationships with a numbe
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SOURCE Catalyst Pharmaceutical Partners, Inc.
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