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

ults for the fourth quarters of 2007 and 2006 include non-cash charges relating to stock-based compensation of $79,260 and $150,796, respectively.

As a development stage pharmaceutical company, Catalyst had no revenues during 2007 and 2006.

At December 31, 2007, the Company had cash and cash equivalents totaling $15.9 million and no long-term debt. The Company believes that its existing cash and cash equivalents will be sufficient to meet its projected operating requirements through the middle of 2009.

Company Development Update

In August 2007, Catalyst submitted to the U.S. Food & Drug Administration (FDA) the results of a bioequivalence study demonstrating that CPP-109 is bioavailable and bioequivalent to Sabril(R) Tablets, the version of vigabatrin marketed in Europe by Sanofi Aventis.

In December 2007, Catalyst announced positive initial top-line results from a Catalyst-supported, investigator-initiated, Phase II double-blind, placebo-controlled trial, in which vigabatrin met its primary efficacy endpoint of abstinence during the last weeks of treatment for cocaine addiction. Additional results of this trial will be reported when they become available. This 103-subject trial is the first randomized, double-blind, placebo-controlled clinical trial studying vigabatrin's effectiveness in treating cocaine addiction. These data show that a statistically significantly greater number of subjects treated with vigabatrin were able to abstain from cocaine usage during the last three weeks of the dosing period compared to those receiving placebo. Achievement of abstinence for an extended period during treatment is the critical first step for cocaine addicted patients to potentially achieve abstinence for much longer time periods. The data confirm the positive results seen in two previous open-label trials conducted in 2003 and 2004.

In January 2008, Catalyst announced that it has initiated enrollment of patients for its 180-patient
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SOURCE Catalyst Pharmaceutical Partners
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