Catalyst Receives Guidance From NASDAQ Regarding Minimum Bid Price Requirement

Catalyst Receives Guidance From NASDAQ Regarding Minimum Bid Price Requirement

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 www.catalystpharma.com.

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
         pmcenany@catalystpharma.com
        
         Melody Carey
         Rx Communications Group
         Co-President
         (917) 322-2571
         mcarey@rxir.com