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Catalyst Pharmaceuticals

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Catalyst Pharmaceutical Partners, Inc.
Company typePublic
Nasdaq: CPRX
Russell 2000 Component
S&P 600 Component
IndustryBiotechnology
FounderPatrick J. McEnany
Headquarters
Coral Gables, Florida, U.S.
Key people
Patrick J. McEnany (chairman, president and CEO)
ProductsFIRDAPSE® (amifampridine) Tablets 10 mg (commercialized 2019)

FYCOMPA® (perampanel) CIII
Increase US$ 52.38 million (2022)[1]
Total assetsUS$ 267.31 million (2022)[1]
Total equityUS$ 237.79 million (2022)[1]
Number of employees
76 as of March 14, 2022[1]
Websitewww.catalystpharma.com
Footnotes / references
[2] [3]

Catalyst Pharmaceuticals, Inc. is a biopharmaceutical company based in Coral Gables, Florida, United States. The company develops medicines for rare diseases, including the phosphate salt of amifampridine for the treatment of Lambert–Eaton myasthenic syndrome (LEMS). The drug is referred to under the trade name Firdapse, which was approved by the FDA for approved use in children 6 years and older with LEMS in addition to the prior approval for use in adults with LEMS on November 28, 2018. Firdapse commercially launched in January 2019.[4]

History

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Catalyst was founded in 2002, and completed an IPO in 2006.[5] It focused primarily on developing therapies to prevent addiction until 2012.[6]

In 2009, Catalyst in-licensed worldwide rights to a family of GABA inhibitors including CPP-115 from Northwestern University.[7][8] In 2012, it in-licensed patents covering the use of amifampridine phosphate to treat LEMS for the North American market from BioMarin.[9]

In 2012, while BioMarin had a Phase III trial ongoing in the US, it licensed the US rights to 3,4-DAPP, including the orphan designation and the ongoing trial, to Catalyst Pharmaceuticals.[10]

In August 2013, analysts anticipated that FDA approval would be granted to Catalyst in LEMS by 2015.[11] The drug is used to treat Lambert–Eaton myasthenic syndrome (LEMS), which is a rare neuromuscular disorder characterized by muscle weakness of the limbs, affecting about 3.4 per million people.

In December 2015, Catalyst submitted its new drug application to the FDA,[12] and in February 2016 the FDA refused to accept it, on the basis that it wasn't complete. In April 2016 the FDA told Catalyst it would have to gather further data.[13][14][15] In March 2018 the company re-submitted its NDA.[16] The FDA approved amifampridine for the treatment of adults with Lambert-Eaton myasthenic syndrome on November 29, 2018.[17]

In 2018, Catalyst terminated its license for CPP-115 with Northwestern and stopped the development program for that compound.[18]

As of 2022, the company offered Catalyst Pathways, a program that provides financial aid, insurance navigation, bridge medicine, and Patient Access Liaisons.[19]

In January 2023, Catalyst acquired the US rights for the epilepsy drug FYCOMPA (perampanel). Fycoma had FDA approvals in 2016 with an oral suspension formulation and in 2017 for its use as a monotherapy.[20]

In May 2024, the FDA approved a supplemental New Drug Application increasing the indicated maximum daily dose of Firdapse (amifampridine) for adults and pediatric patients weighing more than 45 kg from 80 mg to 100 mg.[21]

Lambert-Eaton myasthenic syndrome

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Tentative evidence supports 3,4-diaminopyridine treatment at least for a few weeks, with the goal to improve neuromuscular transmission.[22] The 3,4-diaminopyridine base or the water-soluble 3,4-diaminopyridine phosphate may be used.[23] Both 3,4-diaminopyridine formulations stall the repolarization of nerve terminals after a discharge, allowing more calcium to gather in the terminal.[24][25]

Amifampridine

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The development of amifampridine and its phosphate has brought attention to orphan drug policies that grant market exclusivity as an incentive for companies to develop therapies for conditions that affect small numbers of people. Amifampridine, also called 3,4-DAP, was discovered in Scotland in the 1970s, and doctors in Sweden first showed its use in LEMS in the 1980s.[26]

Litigation and Reception

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In December 2015 a group of neuromuscular doctors who had worked with both Jacobus and BioMarin/Catalyst published an editorial in the journal, Muscle & Nerve, with concerns about the potential for the price of the drug to be drastically increased should Catalyst obtain FDA approval, and stating that 3,4-DAPP represented no real innovation and didn't deserve exclusivity under the Orphan Drug Act, which was meant to spur innovation to meet unmet needs.[26][27] Catalyst responded to this editorial with a response in 2016 that explained they were conducting a full range of clinical and non-clinical studies necessary to obtain approval in order to specifically address the unmet need among the estimated 1500-3000 LEMs patients since about 200 were receiving the product through compassionate use – and that this is exactly what the Orphan Drug Act was intended to do.[28] Prior to the FDA approval, patients were able to get an investigational version of amifampridine for free through compassionate use programs in accordance with FDA Rules and Guidelines.[29][30][31]

On January 28, 2022, in Catalyst Pharmaceuticals, Inc. v. Becerra, the Eleventh Circuit upheld orphan exclusivity for Catalyst Pharmaceuticals and its drug Firdapse. With this decision, the Eleventh Circuit rejected the FDA's interpretation of orphan exclusivity and concluded that the agency had improperly approved a competitor product from Jacobus Pharmaceutical Co.[32][33]

On February 4, 2019, Bernie Sanders, United States Senator from Vermont, publicly sent a letter to Catalyst asking why they raised the price of their drug Firdapse to an annual cost of $375,000, considering Firdapse was previously free of charge through an FDA compassionate use program. Sanders questioned the financial decision regarding the negative impact, specifically asking about how many patients would suffer or die, for patients who may no longer be able to afford the drug. The drug is used to treat Lambert–Eaton myasthenic syndrome (LEMS), which is a rare neuromuscular disorder.[31][34]

References

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  1. ^ a b c d "Catalyst Pharmaceuticals Annual Report 2022". Retrieved December 9, 2019.[dead link]
  2. ^ "Catalyst Pharmaceuticals 2014 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. Retrieved March 5, 2015.
  3. ^ "Catalyst Annual Report 2018". ir.catalystpharma.com. Retrieved December 9, 2019.[dead link]
  4. ^ "Firdapse FDA Approval Letter" (PDF). fda.gov. November 28, 2018.
  5. ^ "Catalyst Pharmaceuticals Registration Statement Form S-1" (XBRL). United States Securities and Exchange Commission. Retrieved September 8, 2015.
  6. ^ Mann Jr., Joseph A. (July 18, 2015). "The big gamble: Catalyst Pharmaceuticals of Coral Gables bets on new drug for rare disease". Miami Herald.
  7. ^ Hawker D. and R. Silverman. “Synthesis and evaluation of novel heteroaromatic substrates of GABA Aminotransferase”, Bioorganic & Medicinal Chemistry, October 1, 2012. Retrieved September 8, 2015.
  8. ^ Brian Bandell. “Catalyst Pharmaceutical signs licensing deal with Northwestern” “South Florida Business Journal”, August 31, 2009. Retrieved September 8, 2015.
  9. ^ “Catalyst Acquires Late-Stage Orphan Drug from BioMarin, “Genetic Engineering and Biotechnology News, November 1, 2012. Retrieved August 27, 2015.
  10. ^ Leuty, Ron (October 31, 2012). "BioMarin licenses North American rights to rare disease drug, invests $5M in Florida company". San Francisco Business Journal.
  11. ^ Baker, D. E. (2013). "Breakthrough Drug Approval Process and Postmarketing ADR Reporting". Hospital Pharmacy. 48 (10): 796–798. doi:10.1310/hpj4810-796. PMC 3859287. PMID 24421428.
  12. ^ Tavernise, Sabrina (December 22, 2015). "Patients Fear Spike in Price of Old Drugs". New York Times.
  13. ^ Adams, Ben (April 26, 2016). "Catalyst Pharmaceuticals hit by FDA extra studies request for Firdapse". FierceBiotech.
  14. ^ Tavernise, Sabrina (February 17, 2016). "F.D.A. Deals Setback to Catalyst in Race for Drug Approval". New York Times.
  15. ^ Adams, Ben (May 17, 2016). "Catalyst to ax 30% of workforce in wake of FDA trial demands". FierceBiotech.
  16. ^ Lima, Debora (March 29, 2018). "Catalyst Pharmaceuticals files new drug application with FDA". South Florida Business Journal.
  17. ^ "Firdapse (amifampridine phosphate) FDA Approval History". Drugs.com. Retrieved February 5, 2019.
  18. ^ "Catalyst Pharmaceuticals 2018 Annual Report. As of August 2020 Q2 filing, CPRX (ticker symbol) has had average quarterly revenue of 30M USD, and profits of 9M USD per quarter".
  19. ^ "Catalyst Pathways". NeedyMeds. Retrieved September 13, 2022.
  20. ^ Dunleavy, Kevin. "With bigger fish to fry, Eisai unloads US rights to epilepsy drug Fycompa to Catalyst". Fierce pharma. Retrieved October 8, 2024.
  21. ^ "Catalyst Pharmaceuticals Receives U.S. FDA Approval For Increased Maximum Daily Dose For FIRDAPSE®". Finance Yahoo.
  22. ^ Keogh, M; Sedehizadeh, S; Maddison, P (February 16, 2011). "Treatment for Lambert-Eaton myasthenic syndrome". The Cochrane Database of Systematic Reviews. 2011 (2): CD003279. doi:10.1002/14651858.CD003279.pub3. PMC 7003613. PMID 21328260.
  23. ^ Lindquist, S; Stangel, M; Ullah, I (2011). "Update on treatment options for Lambert-Eaton myasthenic syndrome: focus on use of amifampridine". Neuropsychiatric Disease and Treatment. 7: 341–9. doi:10.2147/NDT.S10464. PMC 3148925. PMID 21822385.
  24. ^ Mareska M, Gutmann L (June 2004). "Lambert–Eaton myasthenic syndrome". Semin. Neurol. 24 (2): 149–53. doi:10.1055/s-2004-830900. PMID 15257511. S2CID 19329757.
  25. ^ Verschuuren JJ, Wirtz PW, Titulaer MJ, Willems LN, van Gerven J (July 2006). "Available treatment options for the management of Lambert–Eaton myasthenic syndrome". Expert Opin. Pharmacother. 7 (10): 1323–36. doi:10.1517/14656566.7.10.1323. PMID 16805718. S2CID 31331519.
  26. ^ a b Deak, Dalia (February 22, 2016). "Jacobus and Catalyst Continue to Race for Approval of LEMS Drug". Bill of Health.
  27. ^ Burns, TM, et al.I (February 2016). "Editorial by concerned physicians: Unintended effect of the orphan drug act on the potential cost of 3,4-diaminopyridine". Muscle & Nerve. 53 (2): 165–8. doi:10.1002/mus.25009. PMID 26662952. S2CID 46855617.{{cite journal}}: CS1 maint: multiple names: authors list (link)
  28. ^ McEnany, Patrick J. (2017). "A response to a recent editorial by concerned physicians on 3,4-diaminopyridine". Muscle & Nerve. 55 (1): 138. doi:10.1002/mus.25437. ISSN 1097-4598. PMID 27756108.
  29. ^ Commissioner, Office of the (May 6, 2019). "Expanded Access". FDA. Retrieved December 9, 2019.
  30. ^ "NDA for Catalyst's LEMS Therapy Firdapse Accepted with Priority Review". Lambert-Eaton News. June 4, 2018. Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  31. ^ a b Abutaleb, Yasmeen (February 4, 2019). "Senator Sanders asks why drug, once free, now costs $375k". Reuters. Retrieved February 5, 2019.
  32. ^ Lovells, Hogan. "Eleventh Circuit decision could significantly expand scope of orphan exclusivity". JDSUPRA. Retrieved October 13, 2022.
  33. ^ Koblitz, Sara (February 17, 2022). "Condition Critical: Court Interprets Orphan Drug Exclusivity Broadly". The FDA Law Blog. Hyman, Phelps & McNamara, P.C. Retrieved October 13, 2022.
  34. ^ "Family outraged over life-changing treatment going from free to $375,000 a year". NBC News. February 8, 2019.
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