Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) director David S. Tierney recently sold shares of the company's stock, according to a new SEC filing. On April 8, Tierney sold 25,000 shares at prices ranging from $15.55 to $15.77, with a weighted average price of $15.68 per share, totaling approximately $392,000.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. The filing noted that the shares were sold to cover personal tax liabilities and not due to any disagreements with the company.
In addition to the sale, the filing also revealed that Tierney exercised options to purchase 25,000 shares of common stock at a price of $4.01 per share, amounting to a total transaction value of $100,250. These options had vested in three annual tranches starting from January 2, 2019, as per the footnotes in the filing.
Following the sale, Tierney's direct ownership in Catalyst Pharmaceuticals decreased to 348,874 shares. The exercise of options, however, increased his total direct holdings to 373,874 shares before the sale, and after both transactions, his ownership stands at 348,874 shares.
Catalyst Pharmaceuticals is focused on developing and commercializing innovative therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. The company's stock trades on the NASDAQ under the ticker symbol CPRX.
InvestingPro Insights
As Catalyst Pharmaceuticals (NASDAQ:CPRX) makes headlines with insider transactions, a deeper look into the company's financial health is warranted. According to InvestingPro data, Catalyst Pharmaceuticals boasts a market capitalization of $1.87 billion and has shown impressive revenue growth in the last twelve months as of Q4 2023, with an 85.9% increase, reaching $398.2 million. This growth is coupled with a substantial gross profit margin of 63.56%, indicating efficient management of production costs and a strong market position.
InvestingPro Tips suggest a positive outlook for the company's profitability. Analysts predict that Catalyst Pharmaceuticals will be profitable this year, which is supported by the company's past performance, having been profitable over the last twelve months. Additionally, the company's liquid assets are reported to exceed short-term obligations, providing financial stability and the ability to meet immediate liabilities. However, it's worth noting that three analysts have revised their earnings expectations downwards for the upcoming period, which may be an area for potential investors to monitor closely.
For those looking to delve further into Catalyst Pharmaceuticals' financial metrics and gain access to additional insights, InvestingPro offers a comprehensive analysis, including more InvestingPro Tips. Currently, there are a total of 9 InvestingPro Tips available for CPRX, which can be found at Investing.com/pro/CPRX. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing an even deeper understanding of the company's financial nuances and investment potential.
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