Catalyst Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
September 11 2019 - 4:19PM
Catalyst Pharmaceuticals, Inc. (NasdaqCM: CPRX)
announced today that it has commenced an underwritten public
offering of 8.0 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. 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.
Catalyst plans to use the net proceeds from the
offering: (i) to continue the commercialization activities for
Firdapse (amifampridine phosphate); (ii) to fund business expansion
activities in the U.S. and Japan; and (iii) for general corporate
purposes, which may include the acquisition or in-license of
additional product candidates or businesses.
The offering will be made pursuant to a
preliminary prospectus supplement to Catalyst's prospectus to be
filed under Catalyst's effective $150 million shelf registration
statement (No. 333-219259). This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities nor will there be any sale of these securities in
any state or other jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other
jurisdiction.
When available, copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
these securities will be available on the Investor Relations
section of the Company's website and on the SEC's website located
at http://www.sec.gov. Copies may also be obtained by contacting
Piper Jaffray & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at
800-747-3924, or by e-mail at prospectus@pjc.com.
About Catalyst
PharmaceuticalsCatalyst 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), anti-MuSK antibody positive myasthenia
gravis (MuSK-MG), congenital myasthenic syndromes (CMS), and spinal
muscular atrophy (SMA) Type 3. Catalyst's new drug application for
Firdapse® (amifampridine) 10 mg tablets for the treatment of adults
with LEMS was approved in November 2018 by the U.S. Food & Drug
Administration ("FDA"), and Firdapse is now commercially available
in the United States. Prior to its approval, Firdapse for LEMS had
received breakthrough therapy designation and orphan drug
designation from the FDA.
Firdapse is currently being evaluated in
clinical trials for the treatment of MuSK-MG, CMS, and SMA Type 3
and has received Orphan Drug Designation from the FDA for
myasthenia gravis and CMS. Firdapse (amifampridine) 10 mg tablets
is the first and only approved drug in Europe for the symptomatic
treatment in adults with LEMS.
Forward-Looking StatementsThis press release
contains forward-looking statements. Forward-looking statements
involve known and unknown risks and uncertainties, which may cause
Catalyst's actual results in future periods to differ materially
from forecasted results and may include, without limitation, risks
related to market conditions and other conditions related to the
proposed offering. A number of factors, including those factors
described in Catalyst's Annual Report on Form 10-K for the fiscal
year 2018 and its other filings with the U.S. Securities and
Exchange Commission (SEC), could adversely affect Catalyst. Copies
of Catalyst's filings with the SEC are available from the SEC, may
be found on Catalyst's website, or may be obtained upon request
from Catalyst. Catalyst does not undertake any obligation to update
the information contained herein, which speaks only as of this
date.
Investor Contact
Brian Korb
Solebury Trout
(646) 378-2923
bkorb@troutgroup.com
Company Contact
Patrick J. McEnany
Catalyst Pharmaceuticals
Chief Executive Officer
(305) 420-3200
pmcenany@catalystpharma.com
Media Contacts
David Schull
Russo Partners
(212) 845-4271
david.schull@russopartnersllc.com
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