Catalyst Pharmaceuticals Inc (NASDAQ:CPRX)
Catalyst Pharmaceuticals News
On Wednesday morning, Catalyst Pharmaceuticals announced that they had positive data following a trial of its treatment for myasthenia gravis. This is big news because there currently is no cure for this disease. Shares were up over 20% on the news on heavy volume.
CPRX Technicals
Looking at the 5-minute chart above you will see that shares surged on the positive news reaching over 20% gains from Tuesday close at $1.17. Prices ran up to highs of $1.77 before cooling off and consolidating in the $1.50 range where they are currently trading.
Keep on eye on current highs at $1.77 and current lows at $1.31. If it breaks either of those then we can expect prices to continue in that direction. Keep your eyes on this one as this could be in play over the next few days.
Principal Investigator Comments
Dr. Mantegazza, the principal investigator of this trial, stated, “Our prospective study evaluating amifampridine phosphate for the symptomatic relief of antibody positive MuSK-MG was statistically significant in demonstrating that it can be an important treatment option. Not only are the results statistically significant, but more importantly, there was a large clinical benefit to the patients. Current treatments for MuSK-MG patients are often inadequate and these patients often face a lifetime of severe complications, including difficulty walking, talking, swallowing, and breathing normally, and in some cases their disease may be life-threatening and require hospitalization and intensive care. Amifampridine phosphate may offer us an effective treatment option. I look forward to the day when I can use this drug in routine clinical practice of treating MuSK-MG patients.”
Company Profile
Catalyst Pharmaceuticals, Inc., formerly Catalyst Pharmaceutical Partners, Inc., is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.
The Company’s Firdapse is indicated for the treatments of lambert-eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS). Firdapse consists of the phosphate salt of amifampridine. The Company has completed the Phase III trial of Firdapse.
The Company’s CPP-109 (vigabatrin) is a gamma-aminobutyric acid (GABA) aminotransferase inhibitor. CPP-109 is indicated for the treatment of Tourette’s Disorder. The Company’s CPP-115 is a GABA aminotransferase inhibitor. CPP-115 is indicated for the treatment of selected neurological indications, such as complex partial seizures and Tourette’s Disorder, and epilepsy.