Company Update (NASDAQ: CPRX): Catalyst Pharmaceuticals Announces Appointment of Richard J. Daly and Donald A. Denkhaus to Its Board of Directors


Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, announced the appointment of Richard J. Daly and Donald A. Denkhaus to the Company’s Board of Directors.

Richard J. Daly

Mr. Daly has over 20 years of commercial pharmaceutical experience working in positions of progressive responsibility in sales, marketing and operations. Recently, Mr. Daly was the President of U.S. Diabetes for the joint alliance between Bristol-Myers Squibb and AstraZeneca. In the past Mr. Daly was a founding partner and board member of SagePath Partners LLC, a commercial outsourcing provider to the pharmaceutical industry. During his recent tenure at Takeda Pharmaceuticals he served as Executive Vice President with P&L responsibility for businesses across the U.S., Canada, and Central/South America. Earlier in his career, he served in the sales organizations at Merrell-Dow Pharmaceuticals (now part of Sanofi) and TAP Pharmaceuticals (formerly a division of Abbott Labs) in sales, marketing, operations and senior leadership positions at TAP and Takeda. Mr. Daly holds a BS in Microbiology from The University of Notre Dame and an MBA from Northwestern University’s Kellogg School of Management.

Donald A. Denkhaus

Mr. Denkhaus is a senior financial executive and CPA with forty years of broad-based business experience. He was a member of the Board of Directors of Noven Pharmaceuticals, Inc., a specialty pharmaceutical company focused on woman’s health and psychiatry from 2004 until it was sold in August 2009. He served as chairman of Noven’s Audit Committee and meets the SEC requirements as an “audit committee financial expert”. Mr. Denkhaus was with Arthur Andersen, global professional services firm, from 1970 to 2002, where he spent 22 years as an audit partner, including serving several publicly-held South Florida pharmaceutical companies. From 2010 through 2013 he was Chairman of Nuovo Biologics, LLC, a privately held company that is developing an antiviral drug, initially for animal use. Additionally, Mr. Denkhaus is currently chairman and chief financial officer of a privately-held company that provides dubbing and subtitling to the television industry. He received a Masters of Business Administration degree with a major in finance from the University of Maryland and a Bachelors of Business Administration with a major in accounting from Kent State University.

Shares of Catalyst Pharmaceutical Partners opened today at $3.5 and are currently trading down at $3.405. CPRX has a 1-year high of $3.97 and a 1-year low of $1.70. The stock’s 50-day moving average is $3.16 and it’s 200-day moving average is $2.86.

On the ratings front, Catalyst has been the subject of a number of recent research reports. In a report issued on February 17, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on the stock, with a price target of $7, which implies an upside of 100.0% from current levels. Separately, on February 2, Roth Capital’s Scott Henry reiterated a Buy rating and has a price target of $6.

Catalyst Pharmaceutical Partners, Inc. is a biopharmaceutical Company. It develops and commercializes prescription drugs targeting diseases of the central nervous system with a focus on the treatment of drug addiction and epilepsy.