Catalyst Pharmaceuticals, Inc. [CPRX] · Equity Underwriting Memo

Catalysts

Catalyst Pharmaceuticals [CPRX] — Catalyst Calendar

Catalyst Criteria · type MEASURED · blocks nothing.

Status: CLOSED. There are no future dated events. The company was acquired on 2026-07-15, delisted the same day and deregistered on 2026-07-24. Angelini Pharma S.p.A. is private and will publish no further US filings on this asset. No forward catalyst is listed below, because none exists — and per the brief, a fabricated catalyst date is worse than an absent calendar.


1. Resolved calendar — every event, with its source

Transaction

Date Event Outcome Source
2026-04-22 Last unaffected trading day Close $25.94 Alpaca daily bars
2026-04-27 Market signs the process had become public Intraday high $32.56; close $29.27 from $27.37 Alpaca daily bars
2026-05-06 Merger Agreement signed — Angelini Pharma S.p.A. / Angelini Cielo Inc. $31.50/sh cash 10-Q Q1-26 Note 17
2026-05-07 Announced. ~$4.1bn (€3.5bn) total equity value; 21% premium to unaffected close, 28% to 30-day VWAP Termination fee $155.5m 8-K Ex-99.1 2026-05-07
2026-05-20 HSR Premerger Notification filed by both parties 8-K 2026-06-23
2026-06-08 Definitive proxy statement filed 8-K 2026-06-23
2026-06-16 FTC granted early termination of the HSR waiting period Antitrust condition satisfied 8-K 2026-06-23
2026-07-08 Special meeting of stockholders — merger adopted Item 5.07; directors' resignations tendered effective at closing 8-K 2026-07-08
2026-07-14 Last trade — $31.49, 19:59:54 UTC Final tape Alpaca trades/latest
2026-07-15 Merger effective. Shares cancelled → right to receive $31.50 cash Deal closed 8-K 2026-07-16
2026-07-15 Form 25-NSE — Nasdaq delisting notification Delisted EDGAR 0001354457-26-000694
2026-07-16 S-8 POS / POS AM / POSASR deregistration filings; EFFECT notices Registrations withdrawn EDGAR
2026-07-24 Form 15-12G — deregistration; §13(a) reporting suspended No further filings EDGAR 0001193125-26-315836

Intellectual property

Date Event Outcome Source
2024-07-30 FIRDAPSE ANDA settlement — Inventia Entry at patent expiry (~Feb 2037) or third-party trigger FY2025 10-K
2025-01-08 FIRDAPSE ANDA settlement — Teva No US entry before 2035-02-25 8-K Ex-99.1 2025-01-08
2025-05-23 FYCOMPA '571 patent expired (incl. PTE) Generic pathway opened FY2025 10-K
2025-08-26 FIRDAPSE ANDA settlement — Lupin Substantially Teva's terms 8-K Ex-99.1 2025-08-25
2025-11-28 FIRDAPSE Orphan Drug Exclusivity expired (10-K also cites 2025-11-26; discrepancy is the company's) Patents held; no generic entry FY2025 10-K
2025-12-15 Earliest permitted FYCOMPA generic entry under the June-2024 settlement Generics launched 10-Q Q1-26
2026-03-23 → 2026-05-18 Hetero trial date (rescheduled) Superseded by settlement FY2025 10-K; 10-Q Q1-26
2026-05-07 FIRDAPSE ANDA settlement — Hetero. $11.0m litigation-avoidance fee paid No US entry before January 2035; all FIRDAPSE litigation resolved 8-K Ex-99.1 2026-05-07
2026-05-26 30-month Hatch-Waxman stay expiry Moot — settled 10-Q Q1-26
2026-07-01 FYCOMPA '497 patent expired Last FYCOMPA protection gone; 3 generic tablets + 1 generic suspension on market FY2025 10-K

Product and clinical

Date Event Outcome Source
2024-03-13 AGAMREE US commercial launch $46.0m in the stub year FY2024 10-K
2024-05-30 FDA approves increased FIRDAPSE max daily dose, 80mg → 100mg Volume driver 8-K Ex-99.1 2024-05-30
2025 (in-year) NCCN SCLC guidelines add VGCC antibody screening + amifampridine as supportive care Diagnosis-rate driver FY2025 release 2026-02-25
2025 (in-year) Health Canada approves AGAMREE NDS (sub-licensee KYE) — first DMD therapy approved in Canada Geographic expansion FY2025 release
2026-02-25 FY2026 guidance issued: total revenue $615–645m (+4.4% to +9.5%); "promoted product revenue to grow 20%+" The forward growth rate of record 8-K Ex-99.1 2026-02-25
2026-05-11 Q1-2026 results. Guidance withdrawn — "In light of the Company's May 7, 2026 announcement, Catalyst will not be providing forward-looking guidance"; no earnings call held Last reported quarter 8-K Ex-99.1 2026-05-11
2026-06-30 AGAMREE two-part Phase 1 topline — vamorolone vs prednisone vs deflazacort; on-target glucocorticoid activity without characteristic immunosuppression at clinical doses Supports co-administration with DMD gene therapies 8-K Ex-99.1 2026-06-30

Capital allocation

Date Event Source
2022-07-11 RUZURGI licence/asset purchase from Jacobus (competitor removal; non-compete to ≥2034-12-31) FY2025 10-K
2023-01-24 FYCOMPA US rights acquired from Eisai (~$198.3m of asset-acquisition payments in FY2023) FY2023 10-K
2023-07-11 AGAMREE North American rights in-licensed from Santhera 8-K Ex-99.1 2023-07-21
2024-01-09 Public equity offering closed 8-K Ex-99.1 2024-01-09
2025-10-01 $200m share repurchase programme announced 8-K Ex-99.1 2025-10-01
FY2025 Over 100 acquisition targets reviewed; zero transactions completed FY2025 release 2026-02-25

2. Forward calendar

Empty.

The last scheduled forward event in the record was the AGAMREE Phase 1 second-part readout, guided to "end of the second quarter of 2026" in the FY2025 10-K and delivered 2026-06-30. Everything after that resolves into the merger close.

No earnings date, no PDUFA date, no trial readout, no conference and no filing deadline exists for this issuer after 2026-07-24. None is invented here.