/C O R R E C T I O N -- Catalyst Pharmaceutical Partners, Inc./

In the news release, Catalyst Pharmaceutical Partners Reports Third Quarter
2009 Financial Results, issued 12-Nov-2009 by Catalyst Pharmaceutical
Partners, Inc. over PR Newswire, in the first table, "CONDENSED STATEMENTS OF
OPERATIONS (unaudited)", the column headings were switched erroneously by PR
Newswire. The complete, corrected release follows:
Catalyst Pharmaceutical Partners Reports Third Quarter 2009 Financial Results

CORAL GABLES, Fla., Nov. 12 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical
Partners, Inc. (NasdaqCM: CPRX) today reported financial results for the third
quarter and nine months ended September 30, 2009.

Third Quarter 2009 Results

For the quarter ended September 30, 2009, the Company reported a net loss of
$1,286,720, or $0.09 per basic and diluted share, compared to a net loss of
$2,855,360, or $0.22 per basic and diluted share for the same period in 2008.
Third quarter 2009 results included non-cash charges relating to stock-based
compensation in the amount of $75,355, compared to $104,565 in the same period
in 2008. For the nine months ended September 30, 2009, the Company reported a
net loss of $6,079,808, or $0.43 loss per basic and diluted share, compared to
a net loss of $6,816,847, or $0.54 loss per basic and diluted share, for the
same period in 2008. Results for the first nine months of 2009 included
non-cash charges relating to stock-based compensation in the amount of
$282,161, compared to $491,177 in the same period in 2008.

Research and development expenses for the third quarter of 2009 were $850,998
compared to $2,451,579 in the third quarter of 2008, including non-cash
stock-based compensation of $42,642 and $54,476, respectively. Research and
development expenses for the nine months ended September 30, 2009 were
$4,549,883 compared to $5,438,082 for the first nine months of 2008, including
non-cash stock-based compensation of $162,782 and $328,564, respectively.

General and administrative expenses for the third quarter of 2009 totaled
$441,316 compared to $463,199 for the third quarter of 2008, including
non-cash stock-based compensation of $32,713 and $50,089, respectively.
General and administrative expenses for the first nine months of 2009 totaled
$1,555,786 compared to $1,664,405 in the first nine months of 2008, including
non-cash stock-based compensation of $119,379 and $162,613, respectively.

As a development stage biopharmaceutical company, Catalyst has no revenues
to-date. At September 30, 2009, the Company had cash and cash equivalents
totaling $4.9 million and no long-term debt. At September 30, 2009, on a pro
forma basis after giving effect to an offering of common stock which closed on
October 6, 2009, Catalyst had cash and cash equivalents of $8.6 million.

"As we reported in our September 30, 2009 press release, we are continuing our
efforts to advance CPP-109 in the clinic as a treatment for cocaine addiction.
We are pleased to have raised almost $4.0 million in new equity last month to
apply toward our goal. We are also continuing to explore additional sources
of funds that may be available to us from government agencies operating under
the umbrella of the National Institutes of Health, as well as from other
governmental agencies with an interest in drug addiction and epilepsy.
Further, we continue to seek out and engage potential strategic partners in
discussions about collaborating with us in the development of both CPP-109 and
our new compound, CPP-115. Finally, we now have sufficient cash to conduct
additional clinical and non-clinical trials on our product candidates and to
continue our operations through the first quarter of 2011," said Patrick J.
McEnany, Catalyst's Chief Executive Officer.

About Catalyst Pharmaceutical Partners

Catalyst Pharmaceutical Partners, Inc. is a biopharmaceutical company focused
on the development and commercialization of prescription drugs targeting
diseases of the central nervous system with a focus on the treatment of drug
addiction and epilepsy. The Company has obtained from Brookhaven National
Laboratory an exclusive worldwide license for nine patents in the United
States relating to the right to use vigabatrin to treat a wide variety of
substance addictions and obsessive-compulsive disorders. Catalyst has also
been granted rights to Brookhaven's vigabatrin-related foreign patents or
patents pending in more than 30 countries. The Company's initial product
candidate based on vigabatrin is CPP-109. CPP-109 has been granted "Fast
Track" status by the U.S. Food & Drug Administration (FDA) for the treatment
of cocaine addiction. This indicates that the FDA has recognized that CPP-109
is intended for the treatment of a serious or life-threatening condition for
which there is no effective treatment and which demonstrates the potential to
address unmet medical needs. Catalyst has also recently been granted worldwide
rights to another patented drug, CPP-115, by Northwestern University. The
Company intends to pursue development of CPP-115 for several indications,
including drug addiction and epilepsy. For more information about the
Company, go to www.catalystpharma.com.

This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties which may cause
the Company's actual results in future periods to differ materially from
forecasted results. A number of factors, including those factors described in
the Company's Annual Report on Form 10-K for 2008 and the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2009 that the Company
has filed with the U.S. Securities and Exchange Commission ("SEC"), could
adversely affect the Company. Copies of the Company's filings with the SEC
are available from the SEC, may be found on the Company's website or may be
obtained upon request from the Company. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
this date.

CATALYST PHARMACEUTICAL PARTNERS, INC.
(a development stage company)

CONDENSED STATEMENTS OF OPERATIONS (unaudited)

For the Three Months For the Nine Months
Ended September 30, Ended September 30,
2009 2008 2009 2008
---- ---- ---- ----

Revenues $- $- $- $-

Operating costs and
expenses:
Research and
development 850,998 2,451,579 4,549,883 5,438,082
General and
administrative 441,316 463,199 1,555,786 1,664,405
----------- ------------ ------------ ------------
Total operating
costs and
expenses 1,292,314 2,914,778 6,105,669 7,102,487
----------- ------------ ------------ ------------
Loss from
operations (1,292,314) (2,914,778) (6,105,669) (7,102,487)
Interest income 5,594 59,418 25,861 285,640
----------- ------------ ------------ ------------
Loss before income
taxes (1,286,720) (2,855,360) (6,079,808) (6,816,847)
Provision for income
taxes - - - -
----------- ------------ ------------ ------------
Net loss $(1,286,720) $(2,855,360) $(6,079,808) $(6,816,847)
=========== ============ ============ ============
Loss per share -
basic and diluted $(0.09) $(0.22) $(0.43) $(0.54)
=========== ============ ============ ============
Weighted average
shares outstanding -
basic and diluted 14,065,385 12,863,196 14,065,385 12,661,859
=========== ============ ============ ============

CATALYST PHARMACEUTICAL PARTNERS, INC.
(a development stage company)

CONDENSED BALANCE SHEETS

September 30, December 31,
2009 2008
------------- ------------
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $4,912,346 $11,766,629
Interest receivable - 12,153
Prepaid expenses 81,770 136,374
------ -------
Total current assets 4,994,116 11,915,156
Property and equipment, net 73,231 96,376
Deposits 10,511 21,436
------ ------
Total assets $5,077,858 $12,032,968
========== ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $163,067 $332,707
Accrued expenses and other liabilities 102,627 1,097,410
------- ---------
Total current liabilities 265,694 1,430,117
Accrued expenses and other liabilities,
non-current 49,596 42,636
------ ------
Total liabilities 315,290 1,472,753

Total stockholders' equity 4,762,568 10,560,215
--------- ----------
Total liabilities and stockholders' equity $5,077,858 $12,032,968
========== ===========

SOURCE Catalyst Pharmaceutical Partners, Inc.

Jack Weinstein, Catalyst Pharmaceutical Chief Financial Officer,
+1-201-934-4201, jweinstein@catalystpharma.com; Melody Carey, Rx
Communications Group Co-President, +1-917-322-2571, mcarey@rxir.com