Catalyst Pharmaceuticals Announces Positive Phase 3 Clinical Trial Results
On November 27, Catalyst Pharmaceutical, Inc. (CPRX) announced positive phase 3 clinical trial results from its drug Firdapse. This was the second phase 3 trial of Firdapse, which shows statistically significant improvement for symptomatic treatment of Lambert-Eaton Myasthenic Syndrome (LEMS). LEMS is a rare autoimmune disorder in which nerves have trouble sending to muscle cells, which results in muscle weakness of the limbs.
Rocket Tickers detected the event at 6:30 am and issued an alert to its subscribers. The next trade occurred during pre-market trading at 6:52 am for $3.92. The stock opened for regular market trading at $3.18.
The stock price continued to climb higher throughout the day before closing at $3.61. That made a gain of 13.5% on the day of the event. The trend continued over the next few trading sessions. On December 4, the stock closed at $4.34 making a gain of 36% in the week following the event.
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