Shareholder rights law firm Johnson & Weaver, LLP has commenced an
investigation into whether certain officers and directors of Catalyst
Pharmaceutical Partners, Inc. (Nasdaq: CPRX) violated state or federal
laws.
Catalyst Pharmaceutical shares were down over 25% on October 18, 2013 in
early morning trading. An article released prior to markets’ opening on
October 18, 2013 by The Street discussed Catalyst’s drug Firdapse, which
is currently in trials. This article raised concerns that Catalyst
investors may have bought the Company’s shares with the belief that
Firdapse is an up and coming orphan drug. Catalyst shareholders may not
be aware that there is a competing drug made by Jacobus (3,4-Dap) that
treats the same disease. Both drugs, Firdapse and 3,4-Dap, treat
Lambert-Eaton Myasthenic Syndrome (LEMS) -- a rare, neuromuscular
disease which causes progressive muscle weakness.
Jacobus (3,4-Dap), an equivalent drug to Firdapse, has been provided
to patients in the treatment of LEMS for over 20 years for free. Though
3,4-Dap has not been formally approved by the FDA, each free
prescription of the drug for the last 20 years has been approved by the
FDA under a "compassionate use" directive. Jacobus is now working to
stop Catalyst from gaining FDA approval for Firdapse in order to keep
access free for LEMS patients. To do so, Jacobus is now conducting a
directly competitive clinical trial with the intent of getting the drug
formally approved by the FDA.
Johnson & Weaver’s investigation will seek to determine if investors
were previously misled by Catalyst Pharmaceutical officers or directors
concerning inadequate disclosure regarding Jacobus’ 3,4-Dap as a
cost-free and effective drug already in the marketplace.
If you have information that could assist in this investigation, or if
you are an Catalyst Pharmaceutical shareholder and are interested in
learning more about the investigation or your legal rights and remedies,
please contact Jim Baker (jimb@johnsonandweaver.com) by
email or by phone at 619-230-0063, Ext. 118.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Copyright Business Wire 2013