This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Catalyst Pharmaceutical Partners Announces Third Quarter 2010 Financial And Operational Results

CORAL GABLES, Fla., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX) today announced its financial and operational results for the third quarter and nine months ended September 30, 2010. Highlights for the third quarter of 2010 and subsequent events include:

  • Reported positive results of CPP-115 non-clinical trials in the fourth quarter of 2010.
  • Raised $1.5 million in the third quarter of 2010 through a registered direct offering of common stock to a major fundamental healthcare investor.
  • Received a $488,958 grant under the Qualifying Therapeutic Discovery Projects Program (section 48D of the Internal Revenue Code) in the fourth quarter of 2010.
  • Appointed Dr. Richard B. Silverman to the Company's Scientific Advisory Board in the fourth quarter of 2010. Dr. Silverman is the inventor of Pfizer's $3 billion pain medication, Lyrica ®. Dr. Silverman is also the inventor of CPP-115, Catalyst's newest GABA aminotransferase inhibitor. 
  • Expect to initiate a registration-directed CPP-109 U.S. Phase II(b) cocaine trial this quarter, with top-line results from this trial expected in the second quarter of 2012.
  • Expect a CPP-109 investigator sponsored cocaine/alcohol co-morbidity study to commence at the University of Pennsylvania during the first quarter of 2011.

"We are pleased with the recently reported positive results of our CPP-115 non-clinical program," said Patrick J. McEnany, Catalyst's Chief Executive Officer. "We expect to begin the remaining non-clinical studies shortly to enable us to file an IND for CPP-115 by the middle of next year. Our CPP-109 U.S. Phase II(b) cocaine trial in partnership with the National Institute on Drug Addiction (NIDA) and the U.S. Veterans Administration is on track to commence in the fourth quarter of 2010. We are also excited by the addition of Dr. Silverman to our Scientific Advisory Board, and we expect that Dr. Silverman will help us explore new ways to maximize the potential of his discoveries that we in-licensed from Northwestern University last year."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs