Catalyst Pharmaceutical Partners Prices $25 Mln Stock Offering

(RTTNews) - Catalyst Pharmaceutical Partners, Inc. (CPRX) said Thursday that it has priced its underwritten public offering of 11.325 million shares of its common stock at an offering price of $2.21 per share.

Catalyst has also granted the underwriters a 30-day option to purchase up to an additional 1,698,750 shares of common stock to cover over-allotments, if any.

Net proceeds from the sale of the shares by Catalyst after underwriting discounts and commissions and other offering expenses are expected to be about $23.3 million.

The offering is is expected to close on April 8.

Catalyst plans to use the net proceeds from the offering for the continuing development of Firdapse for the treatment of Lambert-Eaton Myasthenic Syndrome, for pre-commercialization activities relating to Firdapse, for the continuing development of CPP-115, and for general corporate purposes.