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Catalyst Pharmaceuticals Inc.
CPRx, + 0.83%
Monday afternoon, when the Food and Drug Administration approved a competitive drug to its Firdapse. That drug helps those who have a rare disease called Lambert-Eaton myasthenic syndrome, or LEMS, and Catalyst charges of $ 375,000 for it. Before Catalyst received exclusive rights to the drug, it was given away by Jacobus Pharmaceutical Co., a private company in New Jersey. On Monday, the FDA approved a version of the drug from Jacobus that is meant to be marketed for pediatric use, while Firdapse is recommended only for use in adults. After closing with a 0.8% gain at $ 6.11 Monday, Catalyst shares dropped over $ 3.60 in the extended session.
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