Catalyst Pharmaceutical Partners Reports Second Quarter 2008 Financi...( CORAL GABLES Fla. Aug. 15 /- Cata...)

CORAL GABLES, Fla., Aug. 15 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) today reported financial results for the second quarter and six months ended June 30, 2008.

"We continue to progress with our clinical development program for CPP-109," stated Patrick J. McEnany, Catalyst's Chief Executive Officer. "In particular, we are actively enrolling and dosing subjects in our U.S. Phase II clinical trials evaluating CPP-109 as a treatment for cocaine and methamphetamine addiction. We expect to have top-line results from our cocaine trial and our methamphetamine trial in the first quarter of 2009 and the third quarter of 2009, respectively."

"Additionally, we expect to launch other Phase II trials this year in indications which could include binge eating disorder and alcohol dependence. As we previously discussed, it is likely that Catalyst will seek partners for these indications."

Second Quarter 2008 Results

For the quarter ended June 30, 2008, the Company reported a net loss of $2,377,440, or $0.19 per basic and diluted share, compared to a net loss of $1,208,130, or $0.10 per basic and diluted share for the same period in 2007. Second quarter 2008 results included non-cash charges relating to stock-based compensation in the amount of $123,208, compared to $182,233 in the same period in 2007. For the six months ended June 30, 2008, the Company reported a net loss of $3,961,487, or $0.32 loss per basic and diluted share, compared to a net loss of $2,460,208, or $0.20 loss per basic and diluted share, for the same period in 2007. Results for the first six months of 2008 included non-cash charges relating to stock-based compensation in the amount of $386,612, compared to $382,601 in
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