logo
Share SHARE
FONT-SIZE Plus   Neg

Catalyst Pharmaceutical Partners Raises $6 Mln In Registered Direct Offering

Catalyst Pharmaceutical Partners Inc. (CPRX) has reached definitive agreements to sell 4.0 million common shares, and common stock purchase warrants to buy an aggregate of 1.2 million shares, in a registered direct public offering. The aggregate offering price for each share and corresponding warrant is $1.50, resulting in gross proceeds of $6 million.

The common stock purchase warrants have a five year-term and an exercise price of $2.08 per share. The offering may close on or about August 31, 2012. Catalyst expects to use the net proceeds from this offering to fund costs associated with the company's product development efforts and for general corporate purposes. Roth Capital Partners has acted as the exclusive placement agent for the transaction.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Rare commodities are worth more than good is a Chinese adage. And more so when it is in the sought-after drug space. Rare and ultra-rare diseases, also called orphan and ultra-orphan diseases, as the names imply, affect very small numbers of patients. So why the clamor? Shares of steel giant ArcelorMittal were losing around 4 percent in the early morning trading in Amsterdam after the company reported sharp decline in first-quarter EBITDA, a key earnings metric, as sales were weak with lower prices and production. Net loss, however, narrowed from last year. The company also confirmed its forecast for annual EBITDA, which is lower than last year. As the din settles down on a dismal quarter at one of the world's exciting tech company, it is time to sit back and take stock of what went wrong and will the wrong be righted in the near term?
comments powered by Disqus
RELATED NEWS
Trade CPRX now with 
Follow RTT