Catalyst Pharmaceutical Partners, Inc. (NasdaqCM: CPRX) today reported financial results for the third quarter and nine months ended September 30, 2009.
Third Quarter 2009 Results
For the quarter ended September 30, 2009, the Company reported a net loss of $1,286,720, or $0.09 per basic and diluted share, compared to a net loss of $2,855,360, or $0.22 per basic and diluted share for the same period in 2008. Third quarter 2009 results included non-cash charges relating to stock-based compensation in the amount of $75,355, compared to $104,565 in the same period in 2008. For the nine months ended September 30, 2009, the Company reported a net loss of $6,079,808, or $0.43 loss per basic and diluted share, compared to a net loss of $6,816,847, or $0.54 loss per basic and diluted share, for the same period in 2008. Results for the first nine months of 2009 included non-cash charges relating to stock-based compensation in the amount of $282,161, compared to $491,177 in the same period in 2008.
Research and development expenses for the third quarter of 2009 were $850,998 compared to $2,451,579 in the third quarter of 2008, including non-cash stock-based compensation of $42,642 and $54,476, respectively. Research and development expenses for the nine months ended September 30, 2009 were $4,549,883 compared to $5,438,082 for the first nine months of 2008, including non-cash stock-based compensation of $162,782 and $328,564, respectively.
General and administrative expenses for the third quarter of 2009 totaled $441,316 compared to $463,199 for the third quarter of 2008, including non-cash stock-based compensation of $32,713 and $50,089, respectively. General and administrative expenses for the first nine months of 2009 totaled $1,555,786 compared to $1,664,405 in the first nine months of 2008, including non-cash stock-based compensation of $119,379 and $162,613, respectively.