Catalyst Pharmaceuticals Prices Public Offering of Common Stock

Catalyst Pharmaceuticals (NASDAQ:CPRX) priced its underwritten public offering of 14,285,715 shares of its common stock at $3.50 per share.
As quoted in the press release:

In connection with the offering, Catalyst has also granted the underwriters a 30-day option to purchase up to an additional 2,142,857 shares of common stock to cover over-allotments, if any. All of the shares in the offering are being sold by Catalyst.
Net proceeds from the offering, after underwriting discounts and commissions and other offering expenses, are expected to be approximately $46.6 million. Catalyst plans to use the net proceeds from the offering (i) to fund clinical studies of Firdapse® for the treatment of MuSK-antibody positive Myasthenia Gravis (MuSK-MG) and Spinal Muscular Atrophy (SMA), (ii) to fund pre-commercialization activities for Firdapse®, and (iii) for general corporate purposes. The offering is subject to customary closing conditions and is expected to close on November 30, 2017.

Click here to read the full press release.

Source: www.marketwired.com