Catalyst Pharmaceuticals, Inc. Comments on Trading in its Common Stock and on its Capital Resources
The Company is reporting that it is not aware of any information about the Company's activities that has not been reported that would give rise to today's decline in the market price of the Company's common stock.
For the first six months of 2019, the Company reported net product revenue of
When the Company announced its previously withdrawn public offering, it reported that it would use the proceeds of the offering for business expansion and for future acquisitions or in-licensing of additional product candidates or businesses. While no such opportunities had been identified to date, the Company believed that having available working capital on its balance sheet would allow the Company to more quickly take advantage of future opportunities if they became available.
The Company believes that its stock remains undervalued and does not believe that raising additional capital in the public market through sales of equity in the foreseeable future would be in the best interest of the Company and its stockholders. Further, although there can be no assurance, the Company believes that if an acquisition or in-licensing opportunity were to be identified, the Company expects that it would also be able to raise the required funds for these purposes using non-dilutive debt financing sources.
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
This 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 financing opportunities. 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
Brian KorbSolebury Trout (646) 378-2923 firstname.lastname@example.org Company Contact Patrick J. McEnany Catalyst PharmaceuticalsChief Executive Officer (305) 420-3200 email@example.com Media Contacts David Schull Russo Partners(212) 845-4271 firstname.lastname@example.org
Source: Catalyst Pharmaceuticals, Inc.