Catalyst Pharmaceutical
Partners, Inc. CPRX, a specialty pharmaceutical company focused on
the development and commercialization of novel prescription drugs targeting
rare (orphan) neuromuscular and neurological diseases, announced today that it
has received a letter from The Nasdaq Stock Market ("Nasdaq") on June 25,
2013, granting a 180-day extension period in which to regain compliance with
Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a
minimum closing bid price of at least $1.00 per share.
As previously announced, the Company received a Nasdaq Deficiency Letter,
dated December 24, 2012, indicating the Company was not in compliance with the
Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for
continued listing on the Nasdaq Capital Market. Nasdaq provided the Company
with an initial period of 180 calendar days in which to regain compliance.
This initial period expired on June 24, 2013. The extension granted today
provides an additional 180 calendar days, or until December 23, 2013, for the
Company to meet the minimum closing bid price requirement of at least $1.00
per share for at least ten consecutive trading days.
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