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Catalyst Pharmaceuticals Insider Picks Up Shares of Company

Patrick McEnany ( Insider Trades ), CEO and president of Catalyst Pharmaceuticals Inc. ( CPRX ), bought 10,000 shares of the company on Oct. 1. The average price per share was $2.81 for a total transaction cost of $28,000. Catalyst Pharmaceuticals is a biopharmaceuticals company focused on developing and commercializing innovative therapies for people with rare debilitating diseases. The company has a market cap of $248.25 million.

The number and volume of total insider buys for the company decreased from 2012 to 2015. The were 19 insider buys of the company totaling 5,786,600 shares in 2012, compared to 13 insider buys totaling 149,700 shares in 2015. McEnany bought 519,309 shares in 17 transactions since December 2008. The price of this trade went up almost 70% since the purchase. CPRX Director Charles O'Keefe ( Insider Trades ) also bought 10,000 shares of the company at an average price of $2.85 per share on Oct. 1.

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For more information about insider trades with CPRX, click here.

The company reported a net loss of $4.558 million, or 6 cents per share in the second quarter of 2015. Net income decreased from $3.198 million, or 5 cents per share reported by CPRX in the second quarter of 2014. Net income for the company increased 39.8% since 2010.

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The company announced on Sept. 9 their intent to develop a generic equivalent of Sabril, a treatment for infantile spasms and complex partial seizures. McEnany commented that the generic product would provide the company, "with an opportunity to add additional shareholder value." On July 22, Catalyst also announced the initiation of a rolling submission of a New Drug Application (NDA) to the FDA for Firdapse. Firdapse is used for the treatment of Lambert-Eaton Myasthenic Syndrome (LEMS). Firdapse received Breathrough Therapy designation from the FDA for the treatment of LEMS, as well as orphan drug designations for LEMS and congenital myasthenic syndromes ( CMS ). McEnany said the company expects to complete the NDA submission in the fourth quarter of 2015, at which time they will also be requesting priority review of the application.

According to GuruFocus.com information, Catalyst Pharmaceuticals has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.

Jim Simons (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) both reduced their stakes in Catalyst during the second quarter of 2015. Simons sold out all 21,227 shares in his holding with the company for an average price of $3.99 per share. The total estimated gain of the company since the first quarter of 2015 is 11%. Cohen reduced his stake in the company by 47.26%, selling 3,104,195 shares at an average price of $3.99 per share. The total estimated gain of Cohen's holding with the company since the fourth quarter of 2014 is 10%. For more information about guru transactions with the company, click here.

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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