CORAL GABLES, Fla., Nov. 12 /PRNewswire-FirstCall/ --
Catalyst Pharmaceutical Partners Reports Third Quarter 2009 Financial Results
Third Quarter 2009 Results
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.
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.
About Catalyst Pharmaceutical Partners
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.
