Catalyst Pharmaceuticals, Inc. Announces Closing of Public Offering
January 09 2024 - 4:05PM
Catalyst Pharmaceuticals, Inc. (“Catalyst” or the “Company”)
(Nasdaq: CPRX) today reported that it has closed its underwritten
public offering of shares of its common stock. The Company sold
10,000,000 shares of its common stock in the offering at a public
offering price of $15.00 per share. The Company has granted
the underwriters a 30-day option to purchase up to an additional
1,500,000 shares of the Company's common stock at the public
offering price, less underwriting discounts.
BofA Securities, Citigroup, Piper Sandler &
Co., Cantor, and Truist Securities acted as bookrunners for the
offering. H.C. Wainwright & Co. and Oppenheimer & Co. acted
as co-lead managers for the offering.
The net proceeds from the sale of the shares,
after underwriting discounts and estimated expenses, was
approximately $140.1 million. The Company 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.
The shares were offered pursuant to an automatic
shelf registration statement (including a prospectus) on Form S-3
(File No. 333-274427), filed with the Securities and Exchange
Commission (“SEC”) pursuant to the Securities Act of 1933, as
amended, on September 8, 2023. The offering was made only by means
of a prospectus and prospectus supplement that formed part of the
registration statement. A final prospectus supplement and the
accompanying prospectus relating to the offering was filed with
the SEC and is available on the SEC's website
at http://www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may 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, 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 Pharmaceuticals
With 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 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
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