$CPRX
Catalyst Pharmaceuticals Inc

2015 Q2 Form 10-Q Financial Statement

#000119312515181902 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.320M $1.940M $760.0K
YoY Change 160.67% 155.26% 24.59%
% of Gross Profit
Research & Development $2.578M $2.350M $2.749M
YoY Change 22.8% -14.52% 151.64%
% of Gross Profit
Depreciation & Amortization $8.975K $8.148K $5.285K
YoY Change 47.54% 54.17% -1.47%
% of Gross Profit
Operating Expenses $4.897M $4.292M $3.508M
YoY Change 63.78% 22.33% 105.72%
Operating Profit -$4.897M -$4.292M -$3.508M
YoY Change 63.78% 22.33% 105.72%
Interest Expense $330.0K -$1.180M -$340.0K
YoY Change -250.0% 247.06% 580.0%
% of Operating Profit
Other Income/Expense, Net $4.871K $61.93K $32.76K
YoY Change -69.06% 89.05% 227.6%
Pretax Income -$4.559M -$5.410M -$3.811M
YoY Change 42.54% 41.96% 118.49%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.559M -$5.410M -$3.811M
YoY Change 42.54% 41.96% 118.49%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$55.58K -$71.15K -$70.37K
COMMON SHARES
Basic Shares Outstanding 82.01M shares 81.44M shares 54.15M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.40M $71.50M $21.30M
YoY Change 49.78% 235.68% 61.36%
Cash & Equivalents $37.22M $41.32M $1.072M
Short-Term Investments $30.20M $30.20M $20.20M
Other Short-Term Assets $800.0K $4.400M $900.0K
YoY Change 0.0% 388.89% -25.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $68.26M $75.97M $22.17M
YoY Change 48.87% 242.7% 53.94%
LONG-TERM ASSETS
Property, Plant & Equipment $63.29K $71.14K $52.65K
YoY Change -3.21% 35.12% -47.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change
Total Long-Term Assets $72.18K $80.03K $61.54K
YoY Change -2.83% 30.05% -38.46%
TOTAL ASSETS
Total Short-Term Assets $68.26M $75.97M $22.17M
Total Long-Term Assets $72.18K $80.03K $61.54K
Total Assets $68.34M $76.05M $22.23M
YoY Change 48.79% 242.11% 53.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.316M $1.051M $932.1K
YoY Change 6.31% 12.7% 55.35%
Accrued Expenses $1.200M $4.800M $1.505M
YoY Change 6.55% 219.02% 276.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.553M $5.849M $2.437M
YoY Change 7.99% 140.04% 143.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.000M $3.600M $2.200M
YoY Change 25.0% 63.64% 266.67%
Total Long-Term Liabilities $3.000M $3.600M $2.200M
YoY Change 25.0% 63.64% 266.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.553M $5.849M $2.437M
Total Long-Term Liabilities $3.000M $3.600M $2.200M
Total Liabilities $5.545M $9.427M $4.591M
YoY Change 16.94% 105.33% 206.09%
SHAREHOLDERS EQUITY
Retained Earnings -$79.81M -$75.25M -$58.14M
YoY Change 30.11% 29.42%
Common Stock $82.10K $82.01K $54.15K
YoY Change 22.22% 51.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $62.79M $66.62M $17.64M
YoY Change
Total Liabilities & Shareholders Equity $68.34M $76.05M $22.23M
YoY Change 48.79% 242.11% 53.31%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$4.559M -$5.410M -$3.811M
YoY Change 42.54% 41.96% 118.49%
Depreciation, Depletion And Amortization $8.975K $8.148K $5.285K
YoY Change 47.54% 54.17% -1.47%
Cash From Operating Activities -$4.250M -$3.790M -$2.430M
YoY Change 42.62% 55.97% 8.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $7.910K $17.31K
YoY Change -100.0% -54.29% 83.46%
Acquisitions
YoY Change
Other Investing Activities $40.00K -$40.00K $1.280M
YoY Change -100.4% -103.13% -14.09%
Cash From Investing Activities $30.00K -$40.00K $1.270M
YoY Change -100.3% -103.15% -14.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.0K 36.06M 20.00K
YoY Change -99.55% 180200.0%
NET CHANGE
Cash From Operating Activities -4.250M -3.790M -2.430M
Cash From Investing Activities 30.00K -40.00K 1.270M
Cash From Financing Activities 120.0K 36.06M 20.00K
Net Change In Cash -4.100M 32.23M -1.140M
YoY Change -129.88% -2927.19% 50.0%
FREE CASH FLOW
Cash From Operating Activities -$4.250M -$3.790M -$2.430M
Capital Expenditures $0.00 $7.910K $17.31K
Free Cash Flow -$4.250M -$3.798M -$2.447M
YoY Change 43.1% 55.19% 8.32%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-75252919
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
82009849 shares
CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2136539
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1072465
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
82009849 shares
CY2015Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
82009849 shares
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1883333 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3240000 shares
CY2015Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
4930
CY2015Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
121341
CY2015Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
3564299
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
5849009
CY2015Q1 us-gaap Common Stock Value
CommonStockValue
82010
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q1 us-gaap Accrued Rent Noncurrent
AccruedRentNoncurrent
14145
CY2015Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4812639
CY2015Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1050515
CY2015Q1 us-gaap Litigation Reserve
LitigationReserve
3500000
CY2015Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4798494
CY2015Q1 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
14145
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
66622287
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
41057
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
76049740
CY2015Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
141793196
CY2015Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
149142
CY2015Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3564299
CY2015Q1 us-gaap Liabilities
Liabilities
9427453
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
238842
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
41323435
CY2015Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
8888
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
71139
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4432574
CY2015Q1 us-gaap Prepaid Rent
PrepaidRent
867
CY2015Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
26497769
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
192480
CY2015Q1 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
3715935
CY2015Q1 us-gaap Assets
Assets
76049740
CY2015Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
40076603
CY2015Q1 us-gaap Loss Contingency Receivable
LossContingencyReceivable
3500000
CY2015Q1 us-gaap Short Term Investments
ShortTermInvestments
26497769
CY2015Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
109316
CY2015Q1 us-gaap Prepaid Insurance
PrepaidInsurance
277723
CY2015Q1 us-gaap Assets Current
AssetsCurrent
75969713
CY2015Q1 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
82163
CY2015Q1 cprx Certificates Of Deposit Fair Value Disclosure
CertificatesOfDepositFairValueDisclosure
3715935
CY2015Q1 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
128750
CY2015Q1 cprx Prepaid Research Fee
PrepaidResearchFee
462505
CY2015Q1 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
735773
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1819562
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2215958
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
69119092 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69119092 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
4158
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
113193
CY2014Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
2794891
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5855026
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
69119
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q4 us-gaap Accrued Rent Noncurrent
AccruedRentNoncurrent
15839
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4056655
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1814210
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69842660
CY2014Q4 us-gaap Litigation Reserve
LitigationReserve
3500000
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4040816
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
15839
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
35242330
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11801
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
43908086
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
105015871
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
43973
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2794891
CY2014Q4 us-gaap Liabilities
Liabilities
8665756
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
31956
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9096778
CY2014Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
8888
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
71377
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4552698
CY2014Q4 us-gaap Prepaid Rent
PrepaidRent
10870
CY2014Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
26462962
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
184570
CY2014Q4 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
3715383
CY2014Q4 us-gaap Assets
Assets
43908086
CY2014Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
7053310
CY2014Q4 us-gaap Loss Contingency Receivable
LossContingencyReceivable
3500000
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
26462962
CY2014Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
34380
CY2014Q4 us-gaap Prepaid Insurance
PrepaidInsurance
385496
CY2014Q4 us-gaap Assets Current
AssetsCurrent
43827821
CY2014Q4 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
30495
CY2014Q4 cprx Certificates Of Deposit Fair Value Disclosure
CertificatesOfDepositFairValueDisclosure
3715383
CY2014Q4 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
115000
CY2014Q4 cprx Prepaid Research Fee
PrepaidResearchFee
571428
CY2014Q4 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
333928
CY2014Q4 cprx Prepaid Offering Costs
PrepaidOfferingCosts
20029
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2425044
CY2014Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
6.00
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
54138580 shares
CY2014Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.47
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8262830 shares
CY2014Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-983738
CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-726149
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-3508365
CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3811119
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
32760
CY2014Q1 us-gaap Revenues
Revenues
0
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17306
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-3811119
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
3508365
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2748683
CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
18537
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1143493
CY2014Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
335514
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
214681
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014Q1 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
ProceedsFromPaymentsForInInterestBearingDepositsInBanks
298615
CY2014Q1 us-gaap Depreciation
Depreciation
5285
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
16504
CY2014Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
18537
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
1265047
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
759682
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
81316
CY2014Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
16504
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
23130
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
CATALYST PHARMACEUTICAL PARTNERS, INC.
CY2015Q1 dei Trading Symbol
TradingSymbol
CPRX
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2015Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>1.</b></td> <td valign="top" align="left"><b>Organization and Description of Business.</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Catalyst Pharmaceutical Partners, Inc. (the Company) is a development-stage biopharmaceutical company focused on the development and commercialization of prescription drugs targeting rare (orphan) neuromuscular and neurological diseases and disorders, including Lambert-Eaton Myasthenic Syndrome (LEMS) and infantile spasms.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Since inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company&#x2019;s primary focus is on the development and commercialization of its drug candidates. The Company has incurred operating losses in each period from inception through March&#xA0;31, 2015. The Company has been able to fund its cash needs to date through several public and private offerings of its common stock and warrants, through government grants, and through an investment by a strategic purchaser. See Note 9.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Capital Resources</i></b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> On January&#xA0;31, 2014, the Company filed a Shelf Registration Statement on Form S-3 (the 2014 Shelf Registration Statement) with the U.S. Securities and Exchange Commission (SEC) to sell up to $100 million of common stock. This registration statement (file No.&#xA0;333-193699) was declared effective by the SEC on March&#xA0;19, 2014. The Company has conducted two registered direct offerings under the 2014 Shelf Registration Statement. See Note 9.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> While there can be no assurance, based on currently available information, the Company estimates that it has sufficient resources to support its operations through the end of 2016. The Company will require additional funding to support the Company&#x2019;s operations in periods after 2016.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company may raise required funds through public or private equity offerings, debt financings, corporate collaborations, governmental research grants or other means. The Company may also seek to raise new capital to fund additional product development efforts, even if it has sufficient funds for its planned operations. Any sale by the Company of additional equity or convertible debt securities could result in dilution to the Company&#x2019;s current stockholders. There can be no assurance that any such required additional funding will be available to the Company at all or available on terms acceptable to the Company. Further, to the extent that the Company raises additional funds through collaborative arrangements, it may be necessary to relinquish some rights to the Company&#x2019;s drug candidates or grant sublicenses on terms that are not favorable to the Company. If the Company is not able to secure additional funding when needed, the Company may have to delay, reduce the scope of, or eliminate one or more research and development programs, which could have an adverse effect on the Company&#x2019;s business.</p> </div>
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3794969
CY2015Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
4.44
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="4%" align="left"><b>b.</b></td> <td valign="top" align="left"><b>USE OF ESTIMATES.</b> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> </tr> </table> </div>
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
76039220 shares
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 us-gaap Loss Contingency Settlement Agreement Date
LossContingencySettlementAgreementDate
April 16, 2015
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.47
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001369568
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6188750 shares
CY2015Q1 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
ProceedsFromPaymentsForInInterestBearingDepositsInBanks
-552
CY2015Q1 us-gaap Depreciation
Depreciation
8148
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4291915
CY2015Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5410259
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
61934
CY2015Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1601896
CY2015Q1 us-gaap Revenues
Revenues
0
CY2015Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
34873869
CY2015Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
18609
CY2015Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
34807
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-120124
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7910
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-5410259
CY2015Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
295842
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
4291915
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2349552
CY2015Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
410870
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
32226657
CY2015Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1180278
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
755984
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
36064895
CY2015Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
410870
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-43269
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
34873869
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1942363
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-763695
CY2015Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1191026
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
314451
CY2015Q1 cprx Shares Issued During Period Warrants Exercised
SharesIssuedDuringPeriodWarrantsExercised
717174 shares
CY2015Q1 cprx Maximum Maturity Period Of Cash And Cash Equivalent
MaximumMaturityPeriodOfCashAndCashEquivalent
3 months
CY2015Q1 cprx Minimum Amortization Period Of Compensation Cost On Straight Line Basis
MinimumAmortizationPeriodOfCompensationCostOnStraightLineBasis
P3Y

Files In Submission

Name View Source Status
0001193125-15-181902-index-headers.html Edgar Link pending
0001193125-15-181902-index.html Edgar Link pending
0001193125-15-181902.txt Edgar Link pending
0001193125-15-181902-xbrl.zip Edgar Link pending
cprx-20150331.xml Edgar Link completed
cprx-20150331.xsd Edgar Link pending
cprx-20150331_cal.xml Edgar Link unprocessable
cprx-20150331_def.xml Edgar Link unprocessable
cprx-20150331_lab.xml Edgar Link unprocessable
cprx-20150331_pre.xml Edgar Link unprocessable
d900933d10q.htm Edgar Link pending
d900933dex311.htm Edgar Link pending
d900933dex312.htm Edgar Link pending
d900933dex321.htm Edgar Link pending
d900933dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending