Exhibit 99.2

CATALYST PHARMACEUTICAL PARTNERS

ANNOUNCES THIRD QUARTER 2011 FINANCIAL RESULTS

CORAL GABLES, FL, November 15, 2011 — Catalyst Pharmaceutical Partners, Inc. (NasdaqCM: CPRX) today announced its financial results for the third quarter and nine months ended September 30, 2011. For the three months ended September 30, 2011, the Company reported a net loss of $1,127,841, or $0.05 per basic and diluted share, compared to a net loss of $903,985, or $0.05 per basic and diluted share, for the same period in 2010. For the nine months ended September 30, 2011, the Company reported a net loss of $4,039,128, or $0.19 per basic and diluted share, compared to a net loss of $3,277,569, or $0.18 per basic and diluted share, for the same period in 2010.

Research and development expenses for the third quarter of 2011 were $614,137, compared to $500,091 in the third quarter of 2010. Research and development expenses for the nine months ended September 30, 2011 were $2,423,725, compared to $1,737,613 for the same period in 2010. The increase is the result of increased clinical trial activity in the first nine months of 2011 as compared to the prior year. The Company expects that research and development expenses will increase during the balance of 2011 as, among other activities, the Company moves forward with its Phase I(a) human safety study of CPP-115. General and administrative expenses for the third quarter of 2011 totaled $516,873, compared to $408,374 in the third quarter of 2010. General and administrative expenses for the first nine months of 2011 totaled $1,623,998 compared to $1,554,396 in the first nine months of 2010.

As a development stage pharmaceutical company, Catalyst had no revenues in either the first nine months of 2011 or first nine months of 2010.

At September 30, 2011, the Company had cash, cash equivalents and CDs totaling $4.2 million and no debt. Subsequent to quarter-end, on November 2, 2011, the company completed a public offering of common stock together with warrants with net proceeds totaling approximately $3,150,000. The Company believes that it now has the resources necessary to fund all of its currently ongoing projects and has sufficient working capital to support its operations through the second quarter of 2013, during which time the Company expects to receive the top-line data from its Phase II(b) trial evaluating CPP-109 for the treatment of cocaine addiction.

“During the third quarter, we continued to actively enroll patients in our CPP-109 Phase II(b) trial. We are pleased with our progress and currently expect to complete this trial’s enrollment during the first half of 2012 and to report top-line results during the fourth quarter of 2012,” said Patrick J. McEnany, Catalyst’s Chief Executive Officer. “In addition, we expect to commence a Phase I(a) safety study for CPP-115 in this quarter. Our goal is to complete this study by the

end of the first quarter or the beginning of the second quarter of 2012. We are also hoping to do additional CPP-115 non-clinical and clinical studies for a variety of central nervous system diseases and addiction disorders.”

Recent Accomplishments and Upcoming Events

About Catalyst Pharmaceutical Partners

Catalyst Pharmaceutical Partners, Inc. is a development-stage biopharmaceutical company focused on the development and commercialization of prescription drugs targeting diseases of the central nervous system with a focus on the treatment of addiction and epilepsy. Catalyst has two products in development, and is currently evaluating its lead product and first-in-class GABA aminotransferase inhibitor candidate, CPP-109 (vigabatrin), for the treatment of cocaine addiction. CPP-109 has been granted “Fast Track” status by the U.S. Food & Drug Administration (FDA) for the treatment of cocaine addiction. Catalyst also expects to evaluate CPP-109 for the treatment of other addictions. Catalyst is also developing CPP-115, another GABA aminotransferase inhibitor that is more potent than vigabatrin and has reduced side effects (e.g., visual field defects, or VFDs) from those associated with vigabatrin. Catalyst is planning to develop CPP-115 for several indications, including drug addiction, epilepsy (initially

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infantile spasms) and for other selected central nervous disease indications. CPP-115 has been granted orphan-drug designation for the treatment of infantile spasms by the FDA. Catalyst believes that it controls all current intellectual property for drugs that have a mechanism of action related to the inhibition of GABA aminotransferase. For more information about Catalyst, go to www.catalystpharma.com.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company’s actual results in future periods to differ materially from forecasted results. A number of forward looking statements contained in this press release, including the anticipated timing of the receipt of results from the Company’s Phase II(b) trial evaluating CPP-109 for the treatment of cocaine addiction, the anticipated timing of the receipt of results from the Company’s upcoming Phase I(a) study evaluating CPP-115 in healthy volunteers, and those forward looking statements contained in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), may prove to be incorrect, which could adversely affect the Company. Copies of the Company’s filings with the SEC are available from the SEC, may be found on the Company’s website or may be obtained upon request from the Company. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

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CATALYST PHARMACEUTICAL PARTNERS, INC.

(a development stage company)

CONDENSED STATEMENTS OF OPERATIONS (unaudited)

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CATALYST PHARMACEUTICAL PARTNERS, INC.

(a development stage company)

CONDENSED BALANCE SHEETS

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