Catalyst shares on rise (NASDAQ:CPRX)

October 1st 2009 brought good news to Catalyst Pharmaceutical Partners when they decided to continue with the development of their addiction drug. It was announced that even though they had failed earlier they will still continue with the clinical development of their drug and as soon as the news was out, shares of Catalyst Pharmaceutical Partners went up 86 percent which was something unimaginable for many analysts and investors.

The developers of this addiction drug said that they were closely analyzing the failed mid-stage clinical trial after which they came out with the decision to go ahead and continue the clinical trial of CPP-109 which is used for the treatment of cocaine and meth addiction. The decision was clearly approved and liked by many market analysts and many of them believe that Catalyst Pharmaceuticals have probably found the answer from their failed mid-stage clinical trial and will soon come up with successful addiction drug to combat vices like cocaine and methamphetamine.

Based in Florida, Catalyst Pharmaceuticals said that their decision to continue with the new clinical trial for addiction drug was mainly because of the support they received from the panel of experts that predict that CPP-109 can be further developed and that they can meet the levels of safety and efficacy required for any drug to sustain the market competition and FDA regulations. They further took into consideration all the data and studies they made during the Phase III trial of CPP-109.

Douglas Winship, Catalyst’s VP of regulatory operations said that due to lower verified actual compliance that they found in the trial, they were not able to detect the difference between CPP-109 and the placebo on the primary and secondary outcomes. However, they hope to develop a successful medication for the treatment of addiction.