CPRX Weakness After Capital Raise Presents Buying Opportunity

Catalyst Pharmaceutical Partners (NASDAQ:CPRX) announced that in a direct public offering of 4 million shares of common stock and 1.2MM warrants, it will be raising $6 million in gross proceeds. The market reacted ahead of the bell driving CPRX down more than 20%. Most investors will be using the opportunity to take profits because – as of Monday’s close – share price has tripled since early July. Shares had, in fact, reached a new 52-week high this week of $1.97. And for those looking for near-term catalysts, today’s weakness may be a good chance to buy. (more…)