Share your sentiments. Even as Steve Cohen is an "in and out" investor, it is indeed encouraging that he purchased 3.5 mln shares which necessitated a Form 13 G filing. This is a major positive not yet fully priced in. Cohen and his team must have done his homework to recognize the potential of this company.
Just to clarify, was specifically referring to Tourette's results. But CPP-115 results also due in the first half of 2015 as per current available information.
A minor point but Catalyst has stated the results will likely be released in the first half of 2015. So technically the data could be released in Q1 or Q2 . Since it is beyond their control, Catalyst does not know for sure as to when. The release could come earlier in Q1 or later in Q2. Mount Sinai will ultimately decide when to release depending on the conclusion of the trials.
Catalyst does not have control over the release of Tourette's results. Mount Sinai does. Also, it appears that Mount Sinai has decided to extend their Tourette's trials to include a lower age group (teenagers). Given the "thrilling success story" reported earlier it is possible that Mount Sinai is looking for more comprehensive data. This is more of a positive and any push back in the release date by Mount Sinai should be viewed in this light.
And here is some noteworthy trivia:
1. Steve Cohen/Point 72 Asset Management just bought in in a major way.
2. Baker Brothers already in
3. Pre-NDA meeting soon
4. Firdapse commercialization a near given
5. CPP-115 huge potential--in addition to Firdapse, CPP-115 is likely the main reason Cohen and the Baker Bros are in. Want to bet against them?
Volatility is typical of low priced biotechs. Another means by which manipulators try to shake out weak hands before the run-up
Where was CPRX trading one year ago and where do you think CPRX will be one year from now. Hold on tight and ignore the moron(s).
The application states that the patent is for the "Reduction or Elimination of Visual Field Defects". The "elimination" of visual defects is important in that I cannot recall the term elimination used in earlier descriptions. Implies progress with CPP-115 to a level where Catalyst feels elimination of visual defects is a possible distinct outcome, including when Phase I results come out in the first half of 2015. Vigabatrin, marketed as Sabril, is already approved in the US since 2009 as well as in other countries like Canada, Mexico and UK.
Currently, the problem with Vigabatrin/Sabril is of course tied to visual side effects. CPP-115 seeks to address this important concern. And the big hint seems to be that CPP-115 is likely to be successful in this regard. Perhaps that's why Catalyst management is comfortable using "elimination" in their wording which we should carefully note. Indeed, we have a potential blockbuster in CPP-115. And lest we forget, the distinguished Dr. Richard Silverman is the prominent face behind the drug. One year ago in 2013, CPRX was trading below $2. Today we are nearing $3. You can do the percentage increase calculation yourself. Just imagine where CPRX will be one year from now. GLTA.
You can access the presentation from the Catalyst web site. Go to the Catalyst Pharma web site click on "Investors" on the top right hand side of the page and then click on "Events and Presentations" on the left side of the page.
Courtesy Street Insider:
As of the close of business on December 1, 2014:
1. Point72 Asset Management, L.P.
(a) Amount beneficially owned: 3,500,000
(b) Percent of class: 5.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 3,500,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 3,500,000
Steven Cohen is among the top, most prominent hedge fund managers in the country. Indeed, he is considered a legend on Wall Street among some his recent legal troubles notwithstanding. The fact that his firm has bought into Catalyst is excellent news and should inspire confidence in CPRX investors. Thanks for posting. Excellent indeed.
Not a stupid question at all. Very relevant.
Re: CPP-109 (Vigabatrin). On going study at Mount Sinai.
"We do not control this proof-of-concept study and therefore have no control over its timing. However, based on currently available information, we expect to have top-line results for this academic investigator proof-of-concept study during the first half of 2015."
To ignore and not give the bashers any satisfaction is the appropriate response. People should also be aware that many of these bashers are paid and the number of clicks they receive increases their pay.
Again, that's a net increase to 34.37% (from 33.22%) other sales notwithstanding. The net increase in shares was1,420,320. Lesson: ignore the attempts to spin the data.
Small correction. Baker Brothers now holds 6,715,462 shares adding an additional 4,492,409 shares. Also note, Deutsche Bank increased their holdings by 375.60% to 237,800 shares total.
Thanks for posting. Baker Brothers, renowned for small cap investing increased their holdings for the latest available period 9/30/2014 by 202.08% to 4,492, 409 shares. Excellent news!
Also worth noting is that Keppra (Levetiracetam) has been in the market since 2008. There are potential side effects with Keppra as an anti-convulsant and CPP-115 may well be a safer, more modern alternative. And the obvious question should be, would Catalyst be developing a new anti-convulsant drug unless they clearly understood the requirement for a safer drug and accompanying business opportunity? And even if both drugs (Keppra and CPP-115) compete, the market is large for such drugs and will not diminish the viability of CPP-115. Otherwise Catalyst would not be spending time, energy and money developing the CPP-115 in the first place.
Their analysts have mediocre backgrounds and are not very bright. Price targets are often changed with the same frequency as the analyst's bowel movements---with many stocks, not just CPRX. Conjecture/speculation is often presented as fact. Here, note that precisely because of safety and efficacy issues tied to compounded drugs that Firdapse is being developed and was given Breakthrough Therapy Designation. And on approval, a 7 year exclusivity will be granted to Catalyst. The half-baked Zack's piece once again provides ample proof of their mediocrity. Not to be taken seriously, whether positive or negative on a particular stock.