Catalyst Pharmaceutical Partners, Inc. Announces a $4.5 Million Registered Direct Common Stock Offering
Among the investors in the transaction is Federated Kaufmann Funds.
The transaction is expected to close on or about September 16, 2008,subject to satisfaction of customary closing conditions. Rodman & Renshaw,LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM),acted as the exclusive placement agent for the offering.
Commenting on the offering, Patrick J. McEnany, President and CEO ofCatalyst Pharmaceutical Partners said, "We are pleased to broaden ourinstitutional investor base, increase market float and potential tradingvolume and shareholder liquidity, and develop important new relationships witha number of high quality institutional investors. The offering will allow usto accelerate the non-clinical development program we believe will be requiredfor us to file an NDA for CPP-109, broaden our pilot study program and provideus with additional financial strength as we move forward with our businessactivities including ongoing discussions with potential strategic partners."
The securities described above are being offered by Catalyst pursuant to apreviously filed shelf registration statement on Form S-3 that was declaredeffective by the Securities and Exchange Commission on June 26, 2008. Theshares of common stock may only be offered by means of a prospectus supplementand accompanying prospectus, forming a part of the effective shelfregistration statement. Copies of the base prospectus and the prospectussupplement for the offering can be obtained from Rodman & Renshaw, LLC, 1251Avenue of the Americas, New York, New York, 10020, or by calling(212) 356-0549. An electronic copy of the prospectus and prospectussupplement will also be available on the website of the Securities andExchange Commission at www.sec.gov.
This press release does not and shall not constitute an offer to sell orthe solicitation of an offer to buy, nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer, solicitation orsale would be unlawful prior to registration or qualification under thesecurities laws of any such state.
About Catalyst Pharmaceutical Partners
Catalyst Pharmaceutical Partners, Inc. is a biopharmaceutical companyfocused on the development and commercialization of prescription drugs for thetreatment of addiction and obsessive compulsive disorders. The Company hasobtained from Brookhaven National Laboratory an exclusive worldwide licensefor Brookhaven's patent portfolio in the United States relating to the rightto use vigabatrin to treat a wide variety of substance addictions andobsessive compulsive disorders. Catalyst has also been granted rights toBrookhaven's vigabatrin-related foreign patents or patents pending in morethan 30 countries. The Company's initial product candidate based on vigabatrinis CPP-109. CPP-109 has been granted "Fast Track" status by the U.S. Food &Drug Administration (FDA) for the treatment of cocaine addiction. Thisindicates that the FDA has recognized that CPP-109 is intended for thetreatment of a serious or lif
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