EXETER, N.H.--(BUSINESS WIRE)--CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) today issued a letter to its stockholders regarding its proposal to approve the merger agreement with FCB I Holdings Inc., under which CPEX stockholders will receive $27.25 per share in cash, and addressing misleading and inaccurate statements made by Mangrove Partners. The text of the letter follows.
