Broadfin Capital is Buying Catalyst Pharmaceuticals Inc. (NASDAQ:CPRX) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Catalyst Pharmaceuticals Inc. (NASDAQ:CPRX) reported that Broadfin Capital has picked up 8,200,000 of common stock as of 2017-02-13.

The acquisition brings the aggregate amount owned by Broadfin Capital to a total of 8,200,000  representing a 9.88% stake in the company.

For those not familiar with the company, Catalyst Pharmaceuticals, Inc., formerly Catalyst Pharmaceutical Partners, Inc., is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115. The Company’s Firdapse is indicated for the treatments of lambert-eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS). Firdapse consists of the phosphate salt of amifampridine. The Company has completed the Phase III trial of Firdapse. The Company’s CPP-109 (vigabatrin) is a gamma-aminobutyric acid (GABA) aminotransferase inhibitor. CPP-109 is indicated for the treatment of Tourette’s Disorder. The Company’s CPP-115 is a GABA aminotransferase inhibitor. CPP-115 is indicated for the treatment of selected neurological indications, such as complex partial seizures and Tourette’s Disorder, and epilepsy.

A glance at Catalyst Pharmaceuticals Inc. (NASDAQ:CPRX)’s key stats reveals a current market capitalization of 92.94 million based on 82.97 million shares outstanding and a price at last close of $1.13 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-07-12, O’keeffe picked up 20,000 at a purchase price of $0.81. This brings their total holding to 432,126 as of the date of the filing.

On the sell side, the most recent transaction saw Winship unload 22,800 shares at a sale price of $3.34. This brings their total holding to 74,131.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Catalyst Pharmaceuticals Inc. (NASDAQ:CPRX) as things move forward to see if its progress aligns with these transactions.

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