Catalyst Pharmaceuticals Announces Third Quarter 2014 Financial Results

Catalyst Pharmaceuticals Announces Third Quarter 2014 Financial Results

CORAL GABLES, FL, November 14, 2014 Catalyst Pharmaceutical Partners, Inc. (Catalyst Pharmaceuticals) (Nasdaq: CPRX), a biopharmaceutical

company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, today reported financial results for the third quarter and nine months ended September 30, 2014.

With the announcement of the positive results from our pivotal Phase 3 trial of Firdapse in LEMS, the third quarter was truly

transformative for Catalyst as it puts us on a pathway to initiate our NDA filing next year, said Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst. We are committed to the LEMS patient community, currently suffering

with this debilitating disease, and will be launching our expanded access program shortly. With our recent Industry Forum at the AANEM conference, we ve seen enthusiastic support from the physician KOL s, as we continue to expand our

pre-commercial activities, raising awareness of LEMS and Firdapse .

For the quarter ended

September 30, 2014, Catalyst reported a GAAP net loss of $5,009,892, or $0.07 per basic and diluted share, compared to a GAAP net loss of $5,912,059, or $0.13 per basic and diluted share, for the same period in 2013. Excluding non-cash expense

of $906,787 attributable

to the change in fair value of liability-classified warrants, Non-GAAP1 net loss was $4,103,105 or $0.06 per share for the third quarter of

2014. In comparison, Non-GAAP1 net loss for the third quarter of 2013 was $3,235,458, or $0.07 per share, which excludes non-cash expense of $2,676,601 attributable to the change in fair value of

liability-classified warrants.

For the nine months ended September 30, 2014, Catalyst reported a GAAP net loss of $12,019,031, or $0.19 per basic

and diluted share, compared to a GAAP net loss of $10,799,938, or $0.25 per basic and diluted share, for the same period in 2013. Excluding non-cash expense of $1,465,892 attributable to the change in fair value of liability-classified warrants,

Non-GAAP1 net loss was $10,553,139 or $0.17 per share for the nine months ended September 30, 2014. In comparison, Non-GAAP1 net loss for

the nine months ended September 30, 2013 was $7,579,424, or $0.18 per share, which excludes non-cash expense of $3,220,514 attributable to the change in fair value of liability-classified warrants.

Research and development expenses for the third quarter of 2014 were $2,885,892, compared to $2,804,352 in the third quarter of 2013. For the nine months

ended September 30, 2014, research and development expenses were $7,733,533, compared to $6,028,691 in the comparable period of 2013. Research and development expenses for the nine months ended September 30, 2014 increased when compared to

the same period in 2013 as Catalyst continued its ongoing Phase 3 trial evaluating Firdapse for the treatment of LEMS and its other clinical trials and studies of Firdapse . Catalyst expects that research and development expenses will

continue to be substantial during 2014 as a result of ongoing development projects for both Firdapse and CPP-115.

General and administrative

expenses for the third quarter of 2014 totaled $1,223,137, compared to $441,424 in the third quarter of 2013. For the nine months ended September 30, 2014, general and administrative expenses totaled $2,874,034, compared to $1,576,044 in the

same period in 2013. The increase in general and administrative expenses is primarily due to an increase in non-cash stock based compensation due to timing of option awards, and consulting and marketing fees incurred in connection with the early

stages of pre-commercial activities for Firdapse .

As a development-stage biopharmaceutical company, Catalyst had no revenues in either the third

quarter of 2014 or the first nine months of 2014.

At September 30, 2014, Catalyst had cash and cash equivalents, certificates of deposit and

short-term investments of $41.4 million and no debt. Catalyst believes that its existing resources will be sufficient to support its currently anticipated operations through 2015.

Upcoming Investor Conferences

Catalyst s CEO, Patrick J. McEnany and COO/CSO, Dr. Steven Miller, will present at the following upcoming investor conferences:

Catalyst Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing innovative therapies for people

with rare debilitating 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 3 trial and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA). Firdapse is the first and only European approved drug for symptomatic treatment in adults with LEMS.

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 and Tourette Syndrome. CPP-115 has been granted U.S. orphan drug designation for the treatment of infantile spasms by the FDA and has been

granted E.U. orphan medicinal product designation for the treatment of West Syndrome by the European Commission.

Forward-Looking Statements

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 the receipt of breakthrough therapy designation for Firdapse will expedite the development and review

of Firdapse by the FDA or the likelihood that the product will be found to be safe and effective, whether an NDA for Firdapse will ever be accepted for filing by the FDA, the timing of any such NDA filing or acceptance, whether Catalyst

will be the first company to receive approval for amifampridine (3,4-DAP), giving it 7-year marketing exclusivity for its product, whether any of Catalyst s product candidates will ever be approved for commercialization or successfully

commercialized, and those other factors described in Catalyst s Annual Report on Form 10-K for the fiscal year 2013 and its 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.

Matt Middleman, M.D.

CATALYST PHARMACEUTICAL PARTNERS, INC.

CONDENSED STATEMENTS OF OPERATIONS (unaudited)

CATALYST PHARMACEUTICAL PARTNERS, INC.

CONDENSED BALANCE SHEETS