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Catalyst Pharmaceutical Partners Reports Third Quarter 2007 Financial Results
Date:11/14/2007

CORAL GABLES, Fla., Nov. 14 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) today reported financial results for the quarter ended September 30, 2007.

Third Quarter 2007 Results

For the quarter ended September 30, 2007, the Company reported a net loss of $734,347 or $0.06 loss per basic and diluted share, compared to a net loss of $1,321,388, or $0.19 loss per basic and diluted share for the same period in 2006. Third quarter 2007 results were impacted by non-cash charges relating to stock-based compensation in the amount of $94,482, compared to $828,818 in the same period in 2006. For the nine months ended September 30, 2007, the Company reported a net loss of $3,194,555, or $0.26 loss per basic and diluted share, compared to a net loss of $1,988,213, or $0.29 loss per basic and diluted share for the same period in 2006. Results for the first nine months of 2007 were impacted by non-cash charges relating to stock-based compensation in the amount of $477,083, compared to $1,069,943 in the same period in 2006.

Research and development expenses for the third quarter of 2007 were $503,348, an increase of 113.8% compared to $235,467 in the third quarter of 2006. These include non-cash stock-based compensation of $75,997 and $88,993, respectively. Research and development expenses for the nine months ended September 30, 2007 were $2,268,648, an increase of 239.5% compared to $668,231 for the first nine months of 2006. These include non-cash stock-based compensation of $315,710 and $302,368, respectively.

General and administrative expenses for the third quarter of 2007 totaled $447,078, a decrease of 59.6% compared to $1,106,752 in the third quarter of 2006. These inc
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SOURCE Catalyst Pharmaceutical Partners, Inc.
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