Catalyst Pharma's Santhera Investment: $5.9M Paid by Year-End

TL;DR

**Catalyst Pharma fully paid $5.9M for its Santhera investment by year-end 2023, impacting its balance sheet.**

AI Summary

CATALYST PHARMACEUTICALS, INC. filed its 10-K on February 28, 2024, for the fiscal year ending December 31, 2023. The company reported an investment in Santhera, valued at CHF 8.25 per share with an exchange rate of 1.1537 CHF to USD on July 19, 2023. A $5.9 million cash payment related to this investment was fully paid by December 31, 2023, and reimbursement was fully applied by June 30, 2023.

Why It Matters

This filing details Catalyst Pharmaceuticals' financial position and strategic investments, providing transparency on its asset valuation and cash flows related to key partnerships like Santhera.

Risk Assessment

Risk Level: medium — The company's valuation of its Santhera investment is tied to market prices and exchange rates, introducing market volatility risk.

Key Numbers

• $5.9 million — Cash Payment (Amount fully paid for Santhera investment by December 31, 2023)
• CHF 8.25 — Santhera Share Price (Closing market price of Santhera shares on July 19, 2023)
• 1.1537 — CHF to USD Exchange Rate (Exchange rate used for Santhera valuation on July 19, 2023)

Key Players & Entities

• CATALYST PHARMACEUTICALS, INC. (company) — Filing company
• Santhera (company) — Investment target
• $5.9 million (dollar_amount) — Cash payment
• July 19, 2023 (date) — Date of share transfer and valuation
• December 31, 2023 (date) — Fiscal year end and payment completion date
• June 30, 2023 (date) — Reimbursement application date

FAQ

From the Filing

0001193125-24-050908.txt : 20240228 0001193125-24-050908.hdr.sgml : 20240228 20240228171626 ACCESSION NUMBER: 0001193125-24-050908 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 114 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240228 FILER: 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: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33057 FILM NUMBER: 24696900 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 10-K 1 d723690d10k.htm FORM 10-K Form 10-K Table of Contents Index to Financial Statements false FY 0001369568 exclusive of amortization of intangible assets The fair value of the investment in Santhera was determined based on the closing market price (CHF 8.25) of Santhera shares and the exchange rate (1.1537) of CHF to USD on the date the shares were transferred, July 19, 2023. As of December 31, 2023 the full $5.9 million has been paid in cash Recorded in prepaid expenses and other current assets in the accompanying consolidated balance sheet as of the acquisition date and reimbursement was fully applied as of June 30, 2023 0001369568 2023-01-01 2023-12-31 0001369568 2022-12-31 0001369568 2023-12-31 0001369568 2021-01-01 2021-12-31 0001369568 2022-01-01 2022-12-31 0001369568 2024-02-26 0001369568 2023-06-30 0001369568 2023-01-01 2023-01-31 0001369568 2023-07-01 2023-07-31 0001369568 2022-07-11 0001369568 2023-07-11 0001369568 2020-12-31 0001369568 2021-12-31 0001369568 cprx:UsTreasuryBondSecuritiesCashEquivalentsMember 2023-12-31 0001369568 us-gaap:FurnitureAndFixturesMember 2023-12-31 0001369568 us-gaap:SoftwareDevelopmentMember 2023-12-31 0001369568 us-gaap:LeaseholdImprovementsMember 2023-12-31 0001369568 us-gaap:USTreasurySecuritiesMember 2023-12-31 0001369568 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2023-12-31 0001369568 us-gaap:MoneyMarketFundsMember 2023-12-31 0001369568 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member 2023-12-31 0001369568 us-gaap:CommonStockMember cprx:TwoThousandEighteenStockIncentivePlanMember 2023-12-31 0001369568 cprx:OptionsToPurchaseCommonStockMember 2023-12-31 0001369568 cprx:LicenseAndAcquiredIntangiblesForFycompaMember 2023-12-31 0001369568 cprx:LicenseAndAcquiredIntangiblesForRUZURGIMember 2023-12-31 0001369568 cprx:LicensedAndAcquiredIntangiblesForAGAMREEMember 2023-12-31 0001369568 us-gaap:FurnitureAndFixturesMember srt:MinimumMember 2023-12-31 0001369568 us-gaap:LeaseholdImprovementsMember srt:MinimumMember 2023-12-31 0001369568 us-gaap:ComputerEquipmentMember srt:MinimumMember 2023-12-31 0001369568 us-gaap:LeaseholdImprovementsMember srt:MaximumMember 2023-12-31 0001369568 us-gaap:FurnitureAndFixturesMember srt:MaximumMember 2023-12-31 0001369568 us-gaap:ComputerEquipmentMember srt:MaximumMember 2023-12-31 0001369568 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001369568 cprx:VamoroloneMember 2023-12-31 0001369568 cprx:UsTreasuryBondSecuritiesCashEquivalentsMember 2022-12-31 0001369568 us-gaap:FurnitureAndFixturesMember 2022-12-31 0001369568 us-gaap:SoftwareDevelopmentMember 2022-12-31 0001369568 us-gaap:LeaseholdImprovementsMember 2022-12-31 0001369568 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member 2022-12-31 0001369568 us-gaap:USTreasurySecuritiesMember 2022-12-31 0001369568 us-gaap:MoneyMarketFundsMember us