Catalyst Pharmaceutical Partners Reports Second Quarter 2009 Financi...( CORAL GABLES Fla. Aug. 7 ...)

CORAL GABLES, Fla., Aug. 7 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) today reported financial results for the second quarter and six months ended June 30, 2009.

Second Quarter 2009 Results

For the quarter ended June 30, 2009, the Company reported a net loss of $1,761,887, or $0.13 per basic and diluted share, compared to a net loss of $2,377,440, or $0.19 per basic and diluted share for the same period in 2008. Second quarter 2009 results included non-cash charges relating to stock-based compensation in the amount of $64,532, compared to $123,208 in the same period in 2008. For the six months ended June 30, 2009, the Company reported a net loss of $4,793,088, or $0.34 loss per basic and diluted share, compared to a net loss of $3,961,487, or $0.32 loss per basic and diluted share, for the same period in 2008. Results for the first six months of 2009 included non-cash charges relating to stock-based compensation in the amount of $206,806, compared to $386,612 in the same period in 2008.

Research and development expenses for the second quarter of 2009 were $1,376,253 compared to $1,902,144 in the second quarter of 2008, including non-cash stock-based compensation of $48,440 and $99,532, respectively. Research and development expenses for the six months ended June 30, 2009 were $3,698,885 compared to $2,986,503 for the first six months of 2008, including non-cash stock-based compensation of $120,140 and $274,088, respectively.

General and administrative expenses for the second quarter of 2009 totaled $392,559 compared to $561,533 for the second quarter of 2008, including non-cash stock-based compensation of $16,092 and $23,676, respectively. General and administrative expenses for the first six months of 2009 totaled
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