Catalyst Pharmaceuticals Inc Shares Performed Better

Catalyst Pharmaceuticals Inc. shares inched 0.72% higher to $5.56 Friday. This proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.80% to 14,427.24 and Dow Jones Industrial Average DJIA falling 0.86% to 34,687.85.

Catalyst Pharmaceuticals Inc. closed $0.66 below its 52-week high ($6.22), which the company achieved on June 28th. The stock demonstrated a mixed performance when compared to some of its competitors Friday, as Johnson & Johnson JNJ fell 0.16% to $168.10, Pfizer Inc. PFE rose 0.65% to $40.35, and Abbott Laboratories ABT rose 0.73% to $117.51.

Catalyst Pharmaceuticals Inc trading volume (770,714) remained 492,924 below its 50-day average volume of 1.3 M.This was the stock’s second consecutive day of gains. The pharmaceutical company, a commercial-stage, patient-centric biopharmaceutical company focused on in-licensing, developing and commercializing novel high-quality medicines for patients living with rare diseases, today announced that it has entered into an exclusive license and supply agreement with DyDo Pharma, Inc. for the development and commercialization of Firdapse® Tablets 10 mg in Japan for the treatment of Lambert-Eaton myasthenic syndrome.

LEMS is a rare autoimmune neuromuscular disorder characterized by debilitating and progressive muscle weakness and fatigue. Catalyst will be responsible for clinical and commercial supply, as well as providing support to DyDo Pharma in its efforts to obtain regulatory approval for the product from the Japanese regulatory authorities. Subject to the satisfaction of terms and conditions as set forth in the License and Supply Agreement, Catalyst will receive an upfront payment and be eligible to receive further development and sales milestones for Firdapse®, as well as a transfer price on products supplied to DyDo Pharma.