CORAL GABLES, FL - Coral Gables-based Catalyst Pharmaceutical Partners Catalyst Pharmaceutical PartnersLatest from The Business JournalsFind out which South Florida stocks took the worst poundingCatalyst Pharmaceutical to sell 2.26M sharesCatalyst launches M clinical trialFollow this company said it plans to launch a $3.5 million stock offering, but its share price reacted negatively after the announcement.

The developmental-stage company (NASDAQ: CPRX) said it would sell 3.05 million shares of its common stock plus warrants to purchase an additional 1.52 million shares of its common stock. The price is $1.15 a share.

Catalyst said it expects to keep $3.15 million of the offering proceeds. The offering should close Nov. 2. Roth Capital Partners Roth Capital PartnersLatest from The Business JournalsMGAM reverses luck, expandsCheckSmart planning IPOAs 2011 wears on, no Supernus public offering in sightFollow this company is the manager of the offering.

The company is conducting a Phase II clinical trial of drug candidate CPP-109 to treat cocaine addiction.

Catalyst shares tumbled 26 cents, or 20 percent, to $1.04 in afternoon trading. The 52-week high was $2.25 on June 10. The 52-week low was 89 cents on Dec. 21.

http://www.bizjournals.com/southflorida/news/2011/10/28/catalyst-pharma-seeks-3m-offering.html?ed=2011-10-31&s=article_du&ana=e_du_pub