Catalyst Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
January 04 2024 - 4:49PM
Catalyst Pharmaceuticals, Inc. (“Catalyst” or the “Company”)
(Nasdaq: CPRX) announced today that it has commenced an
underwritten public offering of $150,000,000 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 its common stock
offered in the public offering, at the public offering price, less
underwriting discounts. 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.
BofA Securities, Citigroup, Piper Sandler &
Co., Cantor, and Truist Securities are acting as bookrunners for
the offering. Oppenheimer & Co. is acting as co-manager for the
offering.
Catalyst plans to use the net proceeds from the
offering: (i) to fund the potential acquisition of new product
candidates, and (ii) for general corporate purposes.
This offering is being made pursuant to an
automatic shelf registration statement (including a prospectus)
filed by Catalyst with the Securities and Exchange Commission
(“SEC”) on September 8, 2023. The proposed offering will be made
only by means of a prospectus and prospectus supplement that form a
part of the registration statement. A preliminary prospectus
supplement and accompanying prospectus relating to the proposed
offering will be filed with the SEC and will be available on the
SEC’s website at https://www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus, when
available, may also be obtained by contacting BofA Securities,
Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon
Street, Charlotte, NC 28255-0001, or by email
at dg.prospectus_requests@bofa.com; or Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, by telephone at (800)
831-9146.
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.
About Catalyst
PharmaceuticalsWith exceptional patient focus, Catalyst is
committed to developing and commercializing innovative
first-in-class medicines that address rare neurological and
epileptic diseases. Catalyst's flagship U.S. commercial
product is FIRDAPSE® (amifampridine) Tablets 10 mg, approved
for the treatment of Lambert Eaton myasthenic syndrome ("LEMS") for
adults and for children ages six to seventeen. In January
2023, Catalyst acquired the U.S. commercial rights to
FYCOMPA® (perampanel) CIII, a prescription medicine approved
in people with epilepsy aged four and older alone or with other
medicines to treat partial-onset seizures with or without
secondarily generalized seizures and with other medicines to treat
primary generalized tonic-clonic seizures for people with epilepsy
aged 12 and older. Further, Canada's national healthcare
regulatory agency, Health Canada, has approved the use of
FIRDAPSE for the treatment of adult patients
in Canada with LEMS. Finally, on July 18, 2023,
Catalyst acquired an exclusive license for North
America for AGAMREE® (vamorolone) oral suspension 40
mg/mL, a novel corticosteroid treatment for Duchenne Muscular
Dystrophy. AGAMREE previously received FDA Orphan Drug and
Fast Track designations and was approved by the FDA for
commercialization in the U.S. on October 26,
2023.
Forward-Looking StatementsThis
press release contains forward-looking statements, as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These include statements regarding Catalyst’s expectations,
beliefs, plans or objectives regarding the completion, timing and
size of the proposed public offering and the intended use of net
proceeds therefrom. 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. A number of factors, including those factors described in
Catalyst's Annual Report on Form 10-K for the fiscal year 2022 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.
Source: Catalyst Pharmaceuticals, Inc.
Investor Relations Contact:
Mary Coleman, Catalyst Pharmaceuticals
(305) 420-3200
mcoleman@catalystpharma.com
Media Contact:
David Schull, Russo Partners
(858) 717-2310
david.schull@russopartnersllc.com
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