CORAL GABLES, Fla., Sept. 10, 2013 (GLOBE NEWSWIRE) -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX) today reported that it has closed its previously announced offering of 8.8 million shares of its common stock in a registered direct public offering. The offering price was $1.72 per share, resulting in gross proceeds of approximately $15.1 million. Roth Capital Partners acted as the exclusive placement agent for the offering and Aegis Capital Corp., Maxim Group LLC and H.C. Wainwright & Co. acted as financial advisers with respect to the offering.
Patrick J. McEnany, Catalyst's Chairman and CEO, stated: "We are pleased to have completed this financing, which we believe, along with the proceeds from recent warrant exercises, gives us the capital necessary to fund development of Firdapse™ and allows us to begin new clinical studies for CPP-115." Mr. McEnany continued: "We are also excited that several high quality fundamental life science investors, including New Leaf Venture Partners, participated in our offering."
Dr. Mark G. Charest of New Leaf Venture Partners, stated: "New Leaf is pleased to support the development of Firdapse™ under the recently granted 'Breakthrough Therapy Designation.' We are excited about the potential for Firdapse™."The shares were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-170945) filed pursuant to the Securities Act of 1933, as amended, which was previously filed with, and declared effective by, the Securities and Exchange Commission (SEC). A prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov . This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.