Catalyst Pharmaceutical (CPRX -6.6%) slides after announcing a collaboration agreement with BioMarin Pharmaceutical (BMRN -4.5%) for the North American rights to Firdapse, a treatment of Lambert-Eaton Myasthenic Syndrome. According to the agreement, CPRX will license exclusive rights to Firdapse, while BMRN will make a $5M investment in CPRX for program advancement. Firdapse is an orphan product that has already been approved in the E.U. and is undergoing phase III clinical trials in the U.S.
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