Key Developments: Catalyst Pharmaceutical Partners, Inc. (CPRX.O)
0.61USD
11:02am EST
$-0.02 (-3.16%)
$0.63
$0.63
$0.63
$0.61
72,536
101,522
$2.81
$0.39
Latest Key Developments
Catalyst Pharmaceutical Partners, Inc. Announces Closing of $3.97 Million Registered Direct Offering
Catalyst Pharmaceutical Partners, Inc. announced that it has closed its registered direct offering of 3.97 million shares of its common stock to institutional investors at a price per share of $1.00, representing gross proceeds of $3.97 million. Rodman & Renshaw, LLC acted as the exclusive placement agent and Merriman Curhan Ford served as a financial advisor to Catalyst with respect to the transaction. Among the investors in the offering is Federated Kaufmann Funds.
Catalyst Pharmaceutical Partners, Inc. To Raise $3.97 Million In Registered Direct Offering
Catalyst Pharmaceutical Partners, Inc. announced that it has entered into definitive agreements to sell 3.97 million shares of its common stock at a price per share of $1.00 pursuant to a registered direct offering to several select institutional investors, representing gross proceeds of $3.97 million. The closing of the offering is expected to take place on or about October 6, 2009. Catalyst intends to use the proceeds from the offering to fund certain clinical studies of CPP-109 for the treatment of cocaine addiction, complete one or more non-clinical studies related to compounds recently licensed as part of the Company's agreement with Northwestern University, and for general corporate purposes. The shares are being offered by Catalyst Pharmaceutical Partners, Inc. pursuant to a shelf registration statement filed with the Securities and Exchange Commission that was declared effective by the Securities and Exchange Commission on June 26, 2008. Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the transaction. Among the investors in the transaction is Federated Kaufmann Funds.
Catalyst Pharmaceutical Partners, Inc. Continues Clinical Development of CPP-109 For The Treatment of Cocaine and Methamphetamine Addiction
Catalyst Pharmaceutical Partners, Inc. announced that the Company will continue to develop CPP-109 (Catalyst's version of vigabatrin) for the treatment of cocaine and methamphetamine addiction. The Company's decision was made after, and based upon, an in-depth review of the results obtained from its 186-patient Phase II clinical trial evaluating the use of CPP-109 for the treatment of cocaine addiction (CPP-01004) and the top-line results obtained from its 57-patient proof-of-concept study evaluating the use of CPP-109 for the treatment of methamphetamine addiction (CPP-02001). Catalyst's decision to continue the development of the drug for both indications was supported by a panel of experts who recently met and agreed with the Company's conclusion that there was sufficient evidence of safety and efficacy to justify further development of CPP-109, based upon these trial data and previously published studies of vigabatrin to treat addiction. After post-hoc analyses of vigabatrin levels in urine samples collected during the study, Catalyst concluded that less than 40% of the trial subjects were medication compliant. On the basis of a comprehensive review of all study data, however, it was concluded that: (i) CPP-109 was safe and well tolerated; and (ii) while there were no statistically significant differences between active and placebo groups for the protocol-specified primary and secondary efficacy endpoints.
Catalyst Pharmaceutical Partners, Inc. To Transfer To NASDAQ Capital Market
Catalyst Pharmaceutical Partners, Inc. announced that it has received approval from the NASDAQ Stock Market to transfer the listing of its common stock from The NASDAQ Global Market to The NASDAQ Capital Market. The transfer will be effective at the opening of the market on September 3, 2009. The Company will continue to trade under the symbol "CPRX" with no impact on the ability of investors to trade the stock.
Catalyst Pharmaceutical Partners, Inc. Licenses Exclusive Rights To New Class Of GABA Aminotransferase Inhibitors From Northwestern University
Catalyst Pharmaceutical Partners, Inc. announced that the Company executed a license agreement under which it acquired exclusive worldwide rights to commercialize novel GABA aminotransferase inhibitors and derivatives of vigabatrin discovered by Northwestern University. These compounds may have applications to a broad range of neurological diseases, including addiction and epilepsy. Catalyst intends to pursue development work on an undisclosed, lead oral compound that has already been identified. Under the terms of the agreement, Northwestern University granted Catalyst an exclusive worldwide license to certain composition of matter patents related to the new class of inhibitors and a patent application relating to derivatives of vigabatrin. Catalyst will be responsible for the continued research and development of any resulting product candidates. Northwestern University will receive from Catalyst an upfront payment, certain milestone payments relating to clinical development activities, and royalties on products resulting from the agreement. Additional terms of the agreement were not disclosed.
Catalyst Pharmaceutical Partners, Inc. Announces Top-Line Results Of CPP-109 Phase II Trial For Cocaine Addiction
Catalyst Pharmaceutical Partners, Inc. announced top line results from its U.S. Phase II clinical trial to treat cocaine addiction. The data from the trial showed that CPP-109 did not demonstrate statistical significance in the primary endpoint that a significantly larger proportion of CPP-109-treated subjects than placebo treated subjects were cocaine-free during the last two weeks of the treatment period (Weeks 11 and 12). The clinical trial did not reveal any unexpected serious adverse events. Complete analyses of the clinical trial data (secondary clinical end-points and safety data) are ongoing. Based on the results of these analyses, Catalyst will evaluate what measures, if any, could be applied to improve the outcome of future studies and will also determine next steps to be taken regarding the development of CPP-109 for the treatment of cocaine addiction. In addition, Catalyst intends to investigate the reasons for the disparity between these trial results and previously published clinical and non-clinical results evaluating vigabatrin as a treatment for cocaine addiction. Catalyst expects to complete the analyses during the third quarter after fully unblinding the trial data and will then formulate future development plans.
Catalyst Pharmaceutical Partners, Inc. To Focus Resources On Its Lead Indication For CPP-109; Cocaine Addiction
Catalyst Pharmaceutical Partners, Inc. announced modifications to its previously announced product development program. In order to extend its cash resources well into 2010, Catalyst has decided to halt enrollment of new subjects into its ongoing U.S. Phase II trial evaluating CPP-109 for the treatment of methamphetamine addiction and will instead convert that trial to a smaller proof-of-concept study. Catalyst will continue to treat the approximately 55 subjects currently in the trial for the 13 week active phase as described in the trial protocol. As previously announced, Catalyst's Phase II cocaine trial is now fully enrolled, with 186 patients at 11 leading addiction research facilities around the United States, and top-line results from the cocaine trial are expected to be available during the second quarter of 2009.
Catalyst Pharmaceutical Partners, Inc. Reaches Enrollment Target For U.S. Phase II Cocaine Trial
Catalyst Pharmaceutical Partners, Inc. announced that it has reached its patient enrollment target in its Phase II trial evaluating CPP-109 for the treatment of cocaine addiction. CPP-109 is Catalyst's tablet formulation of vigabatrin being developed as a treatment for cocaine and methamphetamine addiction, as well as other addictions and obsessive compulsive disorders. The randomized, double blind, placebo controlled clinical trial is assessing safety and efficacy of CPP-109 over a 12 week treatment period, with an additional 12 weeks of follow up. The specified total of 180 patients have now been enrolled at 11 addiction research facilities across the United States. Catalyst expects to have top line results from the trial during the second quarter of 2009.
Catalyst Pharmaceutical Partners, Inc. Announces $4.5 Million Registered Direct Common Stock Offering
Catalyst Pharmaceutical Partners, Inc. announced that it has entered into definitive agreements with institutional investors to sell 1,488,332 shares of its common stock at a price of $3.00 per share in a registered direct common stock offering. Net proceeds are expected to be approximately $4.1 million after offering-related fees and expenses. Catalyst intends to use the proceeds from the offering to fund certain required non-clinical studies of CPP-109 for cocaine addiction, complete one or more pilot studies for other indications, which may include a study for binge-eating disorder, and for general corporate purposes.
Catalyst Pharmaceutical Partners, Inc. Announces Publication Of Animal Data Demonstrating Vigabatrin Effective For Weight Loss
Catalyst Pharmaceutical Partners, Inc. announced that animal data from a new study appears to demonstrate that taking vigabatrin leads to rapid weight loss and reduced food intake. According to the study published in Synapse, a total of 50 adolescent and adult animals, all genetically bred to be obese, were assigned to either a control group or groups that received vigabatrin at various dose levels and were monitored for up to 40 days. The controls received daily salt water (saline) injections, while those in the study groups received up to 300 milligrams of vigabatrin per day. All animals received injections for two, seven to 13 day periods, with breaks in between. At the end of the 40 day period, all animals receiving vigabatrin weighed significantly less than the control subjects. In fact, those animals that were bred to be obese experienced a loss of up to 19% of their total weight, while non obese animals lost 12% to 20% of their total weight following short term treatment with vigabatrin.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
