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Catalyst Pharmaceutical Partners Reports Fourth Quarter and Year-End 2007 Financial Results
Date:3/26/2008

ner Professor of Psychiatry and Neuroscience at Baylor College of Medicine, and Dr. Richard Rawson of the University of California, Los Angeles' Department of Psychiatry. Drs. Kosten and Rawson are both key opinion leaders in the field of substance abuse and are contributing greatly to the achievement of Catalyst's goals."

"We are especially pleased that the positive results from our Mexico trial were discussed in Newsweek magazine's cover article on addiction in the March 3, 2008 issue. In the article, one of the foremost experts in the field of addiction noted that the results of this trial provide the best efficacy signal of any trial conducted so far for cocaine treatment and that treatment with vigabatrin seems especially promising, even for patients that are hardest to treat -- long-term cocaine addicts. We believe strongly in the viability of our technology and the promise that treatment with CPP-109 may bring to patients, the healthcare system and society at large."

Financial Results

For the year ended December 31, 2007, the Company's net loss was $4,139,493, or $0.33 per basic and diluted share, compared to a net loss of $2,729,454, or $0.36 per basic and diluted share, in the prior year. Results for 2007 and 2006 include non-cash charges relating to stock-based compensation of $556,343 and $1,220,739, respectively.

Research and development expenses for 2007 were $2,990,659, compared to $1,087,144 in 2006. This includes non-cash stock-based compensation for 2007 and 2006 of $365,107 and $344,649, respectively.

General and administrative expenses for 2007 were $2,036,470, compared to $1,815,183 in 2006. This includes non-cash stock-based compensation for 2007 and 2006 of $191,236 and $876,090, respectively.

For the fourth quarter of 2007, the Company's net loss was $944,938, or $0.08 per basic and diluted share, compared to a net loss of $741,241, or $0.07 per basic and diluted share, for the same period in 2006. Res
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SOURCE Catalyst Pharmaceutical Partners
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