Catalyst Pharmaceuticals Inc (NASDAQ: CPRX) is headed up in the market this morning, and for good reason. The company announced that data from its Phase 3 clinical trial was published in the Journal of Clinical Neuromuscular Disease.
As you could imagine, the news proved to excite investors, sending the stock on a run for the top. Today, we’ll talk about:
- The publication of data;
- what we’re seeing from CPRX stock as a result; and
- what we’ll be watching for ahead.
CPRX Announces The Publication Of Clinical Data
As mentioned above, Catalyst Pharmaceuticals is having an incredibly strong start to the trading session this morning after the company announced the publication of data.
In a press release issued early this morning, the company said that data from its Phase 3 clinical trial surrounding Firdapse had been published in the Journal of Clinical Neuromuscular Disease. The trial is the second Phase 3 trial, evaluating the treatment as an option for Lambert-Eaton Myasthenic Syndrome (LEMS).
CPRX recently announced the positive results fromt he trial, but said in the release that full results are now available. During the trial, both co-primary endpoints were met with statistical significance. The treatment also showed to be generally safe and well tolerated.
In a statement, Gary Ingenito, M.D., Ph.D., CMO at CPRX, had the following to offer:
The results of this second pivotal Phase 3 trial again demonstrate that Firdapse is effective for the treatment of LEMS. We are pleased to offer access, for all adults LEMS patients, to the first FDA approved, evidence-based treatment available in the United States.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Catalyst Pharmaceuticals, the news proved to be overwhelmingly positive.
After all, the data is now complete and is positive to say the least. Moreover, it has been validated through publication in a peer-reviewed journal. So, it’s not surprising to see that investors are excitedly pushing the stock up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:04), CPRX is trading at $3.00 per share after a gain of $0.12 per share or 4.17% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow the story surrounding CPRX incredibly closely. In particular, we’re interested in keeping an eye on the continued development of Firdapse as the treatment is leading to promising results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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