Catalyst Pharma Closes Previously Announced $6 Million Registered Direct Offering

Catalyst Pharmaceutical Partners

announced today that it has closed its previously announced offering of (i) 4.0 million shares of the Company's common stock, and (ii) warrants to purchase an aggregate of 1.2 million shares of the Company's common stock, in a registered direct public offering. The aggregate offering price for each share and corresponding warrant was $1.50, resulting in gross proceeds of $6 million. The common stock purchase warrants have a five-year term and an exercise price of $2.08 per share. Roth Capital Partners acted as the exclusive placement agent for the transaction. "We are pleased to have completed this financing, which gives us additional resources to further our product development efforts," said Patrick J. McEnany, the Company's Chairman and Chief Executive Officer. "Earlier this year, we sought to raise approximately $10 million in financing to support our business activities. However, at the time, due primarily to adverse market conditions, we were only able to raise about $4.8 million. This new offering makes up for that shortfall and is on better terms than we were able to obtain in our earlier financing."