CORAL GABLES, Fla., June 3 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX), a biopharmaceutical company that acquires, in-licenses, develops and commercializes prescription drugs for the treatment of drug addiction and obsessive compulsive disorders, today announced the filing of a shelf registration statement with the Securities and Exchange Commission (SEC). After the shelf registration statement has been declared effective by the SEC, Catalyst may, from time-to-time, offer its common stock up to an aggregate public offering price of up to $30 million. The common stock may be offered in separate series, in amounts and at prices to be set forth in a filing with the SEC at the time of such offering.
The shelf registration statement is intended to provide Catalyst with flexibility to raise funds from the offering of its common stock in one or more offerings, subject to market conditions. There are no immediate plans to raise any funds.
Patrick J. McEnany, Catalyst's Chief Executive Officer commented, "Our existing cash as of March 31, 2008 of $14.7 million is expected to meet our needs for the next twelve months. We have filed the shelf registration to give Catalyst the flexibility to fund a Phase III clinical trial evaluating the use of CPP-109 to treat cocaine addiction, fund future studies which may be required to file an NDA for cocaine addiction, to undertake additional studies evaluating CPP-109 for the treatment of a variety of addictions and for additional working capital."
Any offer to sell, or solicitation of an offer to buy securities, if
and when such offer is made, will be pursuant to a prospectus supplement
that will be issued in respect of any such offering. A registration
|SOURCE Catalyst Pharmaceutical Partners, Inc.|
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