Catalyst raises $25 million in follow-on
Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX) raised $25 million through the sale of 11.3 million shares at $2.21 in a follow-on underwritten by Piper Jaffray; Roth Capital Partners; and H.C. Wainwright. Catalyst proposed the offering late Wednesday, when its share price was $2.21.
Next quarter, Catalyst expects top-line data from a Phase III trial evaluating Firdapse amifampridine to treat Lambert-Eaton myasthenic syndrome (LEMS), a rare disorder of neuromuscular transmission caused by impaired presynaptic release of acetylcholine. The company has exclusive, North American rights to Firdapse from BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). The potassium channel blocker has breakthrough therapy designation in the U.S. and is approved in the EU for LEMS. ...