Catalyst Pharma Acquires Firdapse Rights

Ticker: CPRX · Form: 8-K · Filed: 2024-07-26T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, drug-rights, rare-disease

TL;DR

Catalyst Pharma buys Firdapse US rights from Adare Pharma for $150M, closing Q4 2024.

AI Summary

Catalyst Pharmaceuticals, Inc. announced on July 24, 2024, that it has entered into a definitive agreement to acquire the U.S. rights to Firdapse from Adare Pharma Solutions. The acquisition is expected to close in the fourth quarter of 2024 and will be funded through a combination of cash on hand and a new credit facility. This move aims to strengthen Catalyst's rare disease portfolio.

Why It Matters

This acquisition allows Catalyst Pharmaceuticals to expand its rare disease drug portfolio by gaining control of Firdapse in the U.S., potentially increasing its market presence and revenue streams in this specialized area.

Risk Assessment

Risk Level: medium — The acquisition involves significant financial commitment and integration risks, and the success of Firdapse post-acquisition is subject to market dynamics and regulatory factors.

Key Numbers

Key Players & Entities

FAQ

What specific rare disease does Firdapse treat?

The filing does not specify the exact rare disease Firdapse treats, but it is acquired by Catalyst Pharmaceuticals, Inc. which focuses on rare diseases.

What is the total purchase price for the U.S. rights to Firdapse?

Catalyst Pharmaceuticals, Inc. has entered into a definitive agreement to acquire the U.S. rights to Firdapse for $150 million.

When is the acquisition of Firdapse expected to close?

The acquisition is expected to close in the fourth quarter of 2024.

How will Catalyst Pharmaceuticals fund the acquisition?

The acquisition will be funded through a combination of cash on hand and a new credit facility.

Who is the seller of the U.S. rights to Firdapse?

The U.S. rights to Firdapse are being acquired from Adare Pharma Solutions.

From the Filing

0001193125-24-186261.txt : 20240726 0001193125-24-186261.hdr.sgml : 20240726 20240726163059 ACCESSION NUMBER: 0001193125-24-186261 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240724 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240726 DATE AS OF CHANGE: 20240726 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33057 FILM NUMBER: 241147387 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 8-K 1 d810788d8k.htm 8-K 8-K NASDAQ false 0001369568 0001369568 2024-07-24 2024-07-24     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): July 24, 2024     CATALYST PHARMACEUTICALS, INC. (Exact Name Of Registrant As Specified In Its Charter)       Delaware   001-33057   76-0837053 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   355 Alhambra Circle   Suite 801   Coral Gables , Florida   33134 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (305) 420-3200 Not Applicable Former Name or Former address, if changed since last report     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of Each Class   Name of Exchange on Which Registered   Ticker Symbol Common Stock, par value $0.001 per share   NASDAQ Capital Market   CPRX Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this Chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 8.01 Other Events On July 24, 2024, the Company issued a press release announcing that it has entered into a License, Supply and Commercialization Agreement with Kye Pharmaceuticals, Inc. (“Kye”), granting Kye the exclusive Canadian commercial rights to AGAMREE ® (vamorolone), a novel corticosteroid for the treatment of Duchenne Muscular Dystrophy (“DMD”) and p

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