Catalyst Pharmaceutical Partners Receives Extension to Regain Compliance With
NASDAQ Listing Requirements
CORAL GABLES, Fla., June 25, 2013 (GLOBE NEWSWIRE) -- Catalyst Pharmaceutical
Partners, Inc. (Nasdaq:CPRX), a specialty pharmaceutical company focused on
the development and commercialization of novel prescription drugs targeting
rare (orphan) neuromuscular and neurological diseases, announced today that it
has received a letter from The Nasdaq Stock Market ("Nasdaq") on June 25,
2013, granting a 180-day extension period in which to regain compliance with
Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a
minimum closing bid price of at least $1.00 per share.
As previously announced, the Company received a Nasdaq Deficiency Letter,
dated December 24, 2012, indicating the Company was 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. Nasdaq provided the Company
with an initial period of 180 calendar days in which to regain compliance.
This initial period expired on June 24, 2013. The extension granted today
provides an additional 180 calendar days, or until December 23, 2013, for the
Company to meet the minimum closing bid price requirement of at least $1.00
per share for at least ten consecutive trading days.
About Catalyst Pharmaceutical Partners
Catalyst Pharmaceutical Partners, Inc. is a specialty pharmaceutical company
focused on the development and commercialization of novel prescription drugs
targeting rare (orphan) neuromuscular and neurological diseases, including
Lambert-Eaton Myasthenic Syndrome (LEMS), infantile spasms, and Tourette
Syndrome. Catalyst's lead candidate, Firdapse™ for the treatment of LEMS, is
currently undergoing testing in a global, multi-center, pivotal phase III
trial. Catalyst is also developing a potentially safer and more potent
vigabatrin analog (designated CPP-115) to treat infantile spasms, and
epilepsy, as well as other neurological conditions associated with reduced
GABAergic signaling, like post-traumatic stress disorder, Tourette Syndrome,
and movement disorders associated with the treatment of Parkinson's Disease.
This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
Catalyst's actual results in future periods to differ materially from
forecasted results. A number of factors, including whether Catalyst will
regain compliance with the Nasdaq listing standards, as well as those factors
described in Catalyst's Annual Report on Form 10-K for the fiscal year 2012
and other filings with the U.S. Securities and Exchange Commission (SEC),
could adversely affect Catalyst. Copies of Catalyst's filings with the SEC are
available from the SEC, may be found on Catalyst's website or may be obtained
upon request from Catalyst. Catalyst 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
Rx Communications Group
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