Deerfield Mgmt Exits Catalyst Pharma (CPRX) Position

TL;DR

**Deerfield Mgmt dumped all its CPRX shares, big institutional exit!**

AI Summary

Deerfield Mgmt, L.P. and its affiliates, including Deerfield Management Company, L.P. and Deerfield Partners, L.P., have filed an amended SC 13G/A for Catalyst Pharmaceuticals, Inc. (CPRX) as of December 31, 2023. This filing indicates a change in their beneficial ownership, specifically that they now beneficially own 0 shares of Catalyst Pharmaceuticals' common stock, down from a previously reported stake. This matters to investors because it signals a complete exit from their position in CPRX by a significant institutional investor, which could be interpreted negatively.

Why It Matters

This filing shows a major institutional investor, Deerfield Mgmt, has sold all its shares in Catalyst Pharmaceuticals, which could signal a lack of confidence in the company's future prospects.

Risk Assessment

Risk Level: medium — The complete divestment by a large institutional investor like Deerfield Mgmt could indicate underlying concerns or a shift in investment strategy, potentially impacting investor sentiment.

Analyst Insight

Investors should investigate the reasons behind Deerfield Mgmt's complete divestment from Catalyst Pharmaceuticals and consider if this signals a broader negative outlook before making investment decisions.

Key Numbers

• 0 — shares beneficially owned (Deerfield Mgmt, L.P. and its affiliates now own zero shares of Catalyst Pharmaceuticals, Inc.)

Key Players & Entities

• Deerfield Mgmt, L.P. (company) — reporting person and institutional investor
• Catalyst Pharmaceuticals, Inc. (company) — the issuer of the securities
• Deerfield Management Company, L.P. (company) — group member of the reporting entity
• Deerfield Partners, L.P. (company) — group member of the reporting entity
• James E Flynn (person) — filed by

Forward-Looking Statements

• Catalyst Pharmaceuticals' stock price may experience downward pressure due to the institutional exit. (Catalyst Pharmaceuticals, Inc.) — medium confidence, target: short-term

FAQ

From the Filing

0001193805-24-000191.txt : 20240212 0001193805-24-000191.hdr.sgml : 20240212 20240212173152 ACCESSION NUMBER: 0001193805-24-000191 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 GROUP MEMBERS: DEERFIELD MANAGEMENT COMPANY, L.P. GROUP MEMBERS: DEERFIELD MGMT, L.P. GROUP MEMBERS: DEERFIELD PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CATALYST PHARMACEUTICALS, INC. CENTRAL INDEX KEY: 0001369568 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-82644 FILM NUMBER: 24621511 BUSINESS ADDRESS: STREET 1: 355 ALHAMBRA CIRCLE STREET 2: SUITE 801 CITY: CORAL GABLES STATE: FL ZIP: 33134 BUSINESS PHONE: (305) 529-2522 MAIL ADDRESS: STREET 1: 355 ALHAMBRA CIRCLE STREET 2: SUITE 801 CITY: CORAL GABLES STATE: FL ZIP: 33134 FORMER COMPANY: FORMER CONFORMED NAME: CATALYST PHARMACEUTICAL PARTNERS, INC. DATE OF NAME CHANGE: 20110215 FORMER COMPANY: FORMER CONFORMED NAME: Catalyst Pharmaceutical Partners, Inc. DATE OF NAME CHANGE: 20060719 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Flynn James E CENTRAL INDEX KEY: 0001352546 ORGANIZATION NAME: FILING VALUES: FORM TYPE: SC 13G/A MAIL ADDRESS: STREET 1: 780 THIRD AVENUE STREET 2: 37TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13G/A 1 e619253_sc13ga-cp.htm SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. 2) * Catalyst Pharmaceuticals, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 14888U101 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☐ Rule 13d-1(b) ☒ Rule 13d-1(c) ☐ Rule 13d-1(d) (Page 1 of 9 Pages) ---------- * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 14888U101 13G Page 2 of 9 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Mgmt, L.P. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☒ 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 8,888,901 (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 8,888,901 (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,888,901 (1) 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* ☐ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.34% 12. TYPE OF REPORTING PERSON* PN __________________ (1) Comprised of shares of common stock held by Deerfield Partners, L.P., of which Deerfield Mgmt, L.P. is the general partner. CUSIP No. 14888U101 13G Page 3 of 9 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Management Company, L.P. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☒ 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0