Catalyst Pharmaceutical Partners (CPRX)

[DonShimoda]

Check your math. In your analysis you valued the warrant as if it were a "free" share of stock. This was a mistake. The warrant is simply a 5 year option with an assumed $1.30 strike. Using black-scholes, the current value of the warrant is around 30 cents. Since investors received half a warrant for each underlying share, the real value given up is around 15 cents and not the 1.15 your analysis assumed. So, no, I don't think it will trade at 77 cents, but if it does you can be assured I'll be adding to my position.

the real price today(if your bought through the financing) was closer to .77/share