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.
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.