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Thursday, Sep 5
Catalyst Pharmaceuticals prices its $8.8M share offering at $1.72, an 11% discount to yesterday's close
- Catalyst Pharmaceutical (CPRX -4.1%) slips after pricing its 8.8M share registered dirct offering at $1.72, an 11% discount to Wednesday's close.
- The offering appears to be a sound move to raise funds, considering stock has more than doubled over the past three months. Gross proceeds from the deal should come to about $15.1M.
- It plans to use the net proceeds primarily to fund costs associated with its product development efforts for Firdapse.
- Firdapse is being evaluated for the symptomatic treatment of patients with Lambert-Eaton Myasthenic Syndrome.
- The company has a remaining float of around 41.5M shares.