Navigation Links
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 number of high quality institutional investors. The offering will allow us to accelerate the non-clinical development program we believe will be required for us to file an NDA for CPP-109, broaden our pilot study program and provide us with additional financial strength as we move forward with our business activities including ongoing discussions with potential strategic partners."

The securities described above are being offered by Catalyst pursuant to a previously filed shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on June 26, 2008. The shares of common stock may only be offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective shelf registration statement. Copies of the base prospectus and the prospectus supplement for the offering can be obtained from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York, New York, 10020, or by calling (212) 356-0549. An electronic copy of the prospectus and prospectus supplement will also be available on the website of the Securities and Exchange Commission 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 for the treatment of addiction and obsessive compulsive disorders. The Company has obtained from Brookhaven National Laboratory an exclusive worldwide license for Brookhaven's patent portfolio 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. 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 the Company's ability to successfully complete those clinical trials required for it to file a new drug application for CPP-109, the Company's ability to complete such trials on a timely basis within the budgets established for such trials, the Company's ability to protect its intellectual property and those other factors described in the Company's Annual Report on Form 10-K for 2007 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2008 that the Company has filed 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.


'/>"/>
SOURCE Catalyst Pharmaceutical Partners, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. NIST and partners identify tiny gold clusters as top-notch catalysts
2. Catalyst Pharmaceutical Partners Reports Second Quarter 2008 Financial Results
3. Controlling the size of nanoclusters: First step in making new catalysts
4. Catalyst Pharmaceutical Partners, Inc. Files Form S-3 Shelf Registration Statement
5. IDEXX Laboratories Announces First Customer Deliveries of Catalyst Dx(TM) Chemistry Analyzer and SNAPshot Dx(TM) Analyzer
6. UCT Specialties (Formerly Petrarch) Announces the Release of Their New Product Guides for Silanes, Silicones, Platinum Catalyst and Glass Coatings
7. Experiments reveal unexpected activity of fuel cell catalysts
8. Using catalysts to stamp nanopatterns without ink
9. Simcere Pharmaceutical Group Announces Two Senior Promotions and Appointment of New Vice President of Human Resources
10. Trubion Pharmaceuticals Wins Patent Opposition - Genentech / Biogen Idec European Patent Revoked
11. BioMarin to Present at the Merrill Lynch Global Pharmaceutical Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... 2016 /PRNewswire/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" or "the ... major shareholders, Clean Technology Fund I, LP and Clean ... based venture capital funds which together hold approximately ... fully diluted, as converted basis), that they have entered ... equity holdings in Biorem to TUS Holdings Co. Ltd. ...
(Date:6/27/2016)... ... 27, 2016 , ... Rolf K. Hoffmann, former senior vice ... University of North Carolina Kenan-Flagler Business School effective June 27. , ... with a focus on the school’s international efforts, leading classes and participating in ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... While the ... such as the Cary 5000 and the 6000i models are higher end machines that ... the height of the spectrophotometer’s light beam from the bottom of the cuvette holder. ...
(Date:6/23/2016)... /PRNewswire/ - FACIT has announced the creation of ... company, Propellon Therapeutics Inc. ("Propellon" or "the Company"), ... portfolio of first-in-class WDR5 inhibitors for the treatment ... represent an exciting class of therapies, possessing the ... cancer patients. Substantial advances have been achieved with ...
Breaking Biology Technology:
(Date:6/22/2016)... -- The American College of Medical Genetics and Genomics was once ... one of the fastest-growing trade shows during the Fastest 50 ... Las Vegas . Winners ... each of the following categories: net square feet of paid ... The 2015 ACMG Annual Meeting was ranked 23 out of ...
(Date:6/22/2016)... On Monday, the Department of Homeland Security ... solutions for the Biometric Exit Program. The Request for ... (CBP), explains that CBP intends to add biometrics to ... United States , in order to deter visa ... Logo - http://photos.prnewswire.com/prnh/20160622/382209LOGO ...
(Date:6/20/2016)... , June 20, 2016 Securus Technologies, ... technology solutions for public safety, investigation, corrections and ... prisons involved, it has secured the final acceptance ... facilities for Managed Access Systems (MAS) installed. Furthermore, ... facilities to be installed by October, 2016. MAS ...
Breaking Biology News(10 mins):