Catalyst Pharmaceutical Partners (NASDAQ: CPRX) stock found a bottom after sell-off (tax-losses) in the mid-December 2012 and now offers a solid trading opportunity.
Besides technical analysis, there are more reasons to join this trade:
- CPRX announced on December 27th that it received a Nasdaq Staff Deficiency Letter for not compliance with the Minimum Bid Price requirement ($1/share) set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Catalyst noted that it will be able to regain compliance with the Rules within the allotted 180 days grace period.
- Catalyst Pharmaceutical Partners (NASDAQ:CPRX) issued 6,666,667 shares at a conversion price of 75 cents/share of its unissued common stock to BioMarin Pharmaceutical (NASDAQ: BMRN) upon the automatic conversion of the $5 million loan that Catalyst received from BioMarin on October 26th.
- CPRX has ~41MM+ shares outstanding with 2.5MM/shares short
Catalyst Pharmaceutical Partners, Inc.
355 Alhambra Circle, Suite 1500
Coral Gables, FL 33134
Tel: (305) 529-2522
Fax: (305) 529-0933
Catalyst is a speciality biopharmaceutical company focused on the development and commercialization of prescription drugs targeting diseases and disorders of the central nervous system (CNS), with a focus on the treatment of addiction, infantile spasms, epilepsy, and other CNS indications.