CORAL GABLES, Fla., Nov. 27, 2017 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (NasdaqCM:CPRX) announced today that it has commenced an underwritten public offering of 11 million shares of its common stock. Catalyst also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions, to cover over-allotments, if any. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. All of the shares in the offering are being sold by Catalyst.
Piper Jaffray & Co. is acting as the lead bookrunner. SunTrust Robinson Humphrey, Inc. is also acting as a bookrunner.
Catalyst plans to use the net proceeds from the offering (i) to fund clinical studies of Firdapse® for the treatment of MuSK-antibody positive Myasthenia Gravis (MuSK-MG) and Spinal Muscular Atrophy (SMA), (ii) to fund pre-commercialization activities for Firdapse®, and (iii) for general corporate purposes.
About Catalyst Pharmaceuticals
Catalyst Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating, chronic neuromuscular and neurological diseases, including Lambert-Eaton myasthenic syndrome (LEMS), congenital myasthenic syndromes (CMS), MuSK antibody positive myasthenia gravis, and infantile spasms. Firdapse® has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for the treatment of LEMS and Orphan Drug Designation for LEMS, CMS and myasthenia gravis. Firdapse® is the first and only approved drug in Europe for symptomatic treatment in adults with LEMS.