Catalyst Receives Guidance From NASDAQ Regarding Minimum Bid Price Requirement

Thu Dec 27, 2012 8:03am EST

* Reuters is not responsible for the content in this press release.

CORAL GABLES, Fla., Dec. 27, 2012 (GLOBE NEWSWIRE) -- Catalyst Pharmaceutical Partners, Inc.
(Nasdaq:CPRX) announced today that it received a Nasdaq Staff Deficiency Letter, dated December
24, 2012, indicating that the Company is 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.

The Nasdaq Listing Rules (the "Rules") require listed securities to maintain a minimum bid price
of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business
days, the Company no longer meets this requirement. In light of the deficiency, the Rules also
provide the Company with a grace period of 180 calendar days in which to regain compliance. If at
any time during this grace period the bid price of the Company's security closes at or above $1.00
per share for a minimum of ten consecutive business days, the Nasdaq Stock Market will provide the
Company with a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the Rule prior to the expiration of the
grace period, the Company may be eligible for an additional 180-day grace period if at such time
it meets the initial listing standards for listing on the Nasdaq Capital Market, with the
exception of the bid price requirement.

The Company understands the Nasdaq requirements and believes it will be able to regain compliance
with the Rules within the allotted grace period.

About Catalyst Pharmaceutical Partners

Catalyst Pharmaceutical Partners, Inc. is a development-stage specialty pharmaceutical company
focused on the development and commercialization of prescription drugs targeting orphan drug
diseases and disorders of the central nervous system. Catalyst has three products in development,
Firdapse, which Catalyst plans to develop for commercialization in North America as a treatment
for Lambert-Eaton Myasthenic Syndrome (LEMS), CPP-115, a GABA aminotransferase inhibitor that is
more potent than vigabatrin and has reduced side effects (e.g., visual field defects, or VFDs)
from those associated with vigabatrin, which Catalyst plans to develop for the treatment of
epilepsy (primarily infantile spasms) and CPP-109 (vigabatrin), which Catalyst hopes to develop
for the treatment of Tourette's Disorder. For additional information about Catalyst, please visit


Forward-Looking Statements 

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 whether the
Company will be able to regain compliance with the Rules within any applicable grace periods,
whether any of the Company's product candidates will ever be approved for commercialization, and
those factors described in the Company's filings 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.

CONTACT: Patrick J. McEnany
         Catalyst Pharmaceutical Partners
         Chief Executive Officer
         (305) 529-2522
         Melody Carey
         Rx Communications Group
         (917) 322-2571