An investigation for investors in Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) shares over potential securities laws violations by Catalyst Pharmaceutical was announced and NASDAQ:CPRX stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 10/22/2013 -- An investigation on behalf of investors of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) shares over potential securities laws violations by Catalyst Pharmaceutical Partners, Inc. and certain of its directors and officers in connection certain statements over its drug Firdapse was announced.
If you purchased shares of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) concerning whether a series of statements by Catalyst Pharmaceutical regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Catalyst Pharmaceutical Partners, Inc. reported that its Net Loss declined from $6.39 million in 2011 to $4.08 million in 2012.
Shares of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) grew from $0.443 per share in early 2013 to as high as $3.39 per share on October 3, 2013.
On October 15, 2013, Catalyst Pharmaceutical Partners, Inc. announced that, at a recently held meeting, the independent Data Monitoring Committee (DMC) overseeing the Company's ongoing pivotal Phase III clinical trial in the United States and Europe evaluating Firdapse™ for the treatment of Lambert-Eaton Myasthenic Syndrome (“LEMS”) recommended that the Company continue the trial as planned based on the committee's review of safety and clinical data from the trial.
However, then on October 18, 2013, a report was published about Catalyst Pharmaceutical Partners, Inc. and its drug Firdapse. The article stated that upon a closer look into Catalyst Pharmaceutical and one discovers “allegations of profiteering off a small group of vulnerable, sick patients and a ton of clinical and regulatory risk”. The article said that “In exchange for spending the time and money to develop drugs for diseases that might ordinarily be ignored, these companies get to charge sky-high prices” and that”insurance companies generally pick up the tab without complaints because there are so few patients who need these expensive drugs.” However, the article stated that Catalyst Pharmaceutical Partners, Inc.is developing Firdapse for LEMS and will likely charge the few thousand LEMS patients in the U.S.more than $60,000 per year even though the same drug is already available for the past 20 years to U.S LEMS patients for free by a small, private, family-owned pharmaceutical company in New Jersey called Jacobus Pharmaceuticals.
Shares of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) declined from over $3.50 in early October 2013 to $1.52 per share on October 21, 2013.
Those who purchased shares of Catalyst Pharmaceutical Partners, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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