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Catalyst Pharmaceutical Partners Inc Prices Underwritten Offering

Thursday, 24 May 2012 08:45am EDT 

Catalyst Pharmaceutical Partners Inc announced the pricing of an underwritten offering of 6,000,000 units, with each unit consisting of one share of its common stock and a warrant to purchase up to one share of its common stock, at a public offering price of $0.80 per unit. Catalyst expects to receive net proceeds of approximately $4.0 million (not including any cash proceeds from a future exercise of the warrants), after deducting the underwriting discount and estimated offering expenses. The warrants will have a five year term and an exercise price equal to $1.04 per share. The offering is expected to close on May 30, 2012. Cowen and Company, LLC is acting as sole book-running manager for the offering. ROTH Capital Partners is serving as a co-manager. The proceeds of this offering will be used to fund the activities necessary to support the submission of an NDA for CPP-109 for FDA approval and to begin to prepare for the commercial launch of CPP-109, assuming that the data from the ongoing Phase II(b) trial are compelling and the FDA accepts an NDA submitted by Catalyst for CPP-109 based on the data from the Phase II(b) trial; to manufacture sufficient CPP-115 for use in one or more future safety and/or proof-of-concept studies of CPP-115; and for general corporate purposes. 

Company Quote

-0.03 -1.44%
24 Apr 2014