Catalyst Pharmaceutical Partners, Inc. Announces Public Offering of 2.26M Shares at $1.12 per Share

Catalyst Pharmaceutical Partners, Inc. CPRX announced today that it has agreed to sell 2,259,943 shares of its common stock at a price of $1.12 per share, the closing price on March 7, 2011, in a firm commitment underwritten public offering. Catalyst expects to receive net proceeds, after underwriting discounts and commissions and estimated offering expenses payable by the Company, of approximately $2.2 million.

Catalyst expects to use the net proceeds from this offering to complete the non-clinical studies necessary to file an Investigational New Drug Application with the FDA for CPP-115, to fund a Phase I human clinical trial of CPP-115 and for general corporate purposes.