World News: 21:19 GMT Wednesday 11th September 2019. [Catalyst Pharmaceuticals, Inc. via Globe Newswire via SPi World News]
CORAL GABLES, Fla., Sept. 11, 2019 (GLOBE NEWSWIRE) -- (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 . 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 .
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.
Patrick J. McEnany
Chief Executive Officer
Globe Newswire: 21:19 GMT Wednesday 11th September 2019
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