Catalyst Pharmaceuticals Inc (NASDAQ:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application Serial Number 14/340,749. The patent claims a method of treating Tourette’s Disorder using the entire class of GABA-aminotransferase inactivators, including CPP-115 and vigabatrin (marketed in the U.S. by Lundbeck as Sabril®).
A Notice of Allowance is issued after the U.S. Patent and Trademark Office (USPTO) determines that the prosecution of the merits of a patent has been completed. The patent can then be granted from an application upon payment of the issue fee. Catalyst expects the patent to issue in the next few months. Once issued, the patent would be expected to expire no earlier than its twenty-year term in January 2033. The expiration of this patent could also be extended by up to 5 years under the patent term restoration act, depending on the review and approval of a new drug application for a drug claimed in this patent and upon the indication approved for that drug. The Notice of Allowance and the allowed claims for this application are posted on the USPTO public PAIR website.
Catalyst is the exclusive licensee from Northwestern University for U.S. patent number 6,794,413 covering the composition of matter for CPP-115. Catalyst is also developing a generic version of vigabatrin tablets that could be used in a 505(b)(2) application for a new indication of Tourette’s Disorder for vigabatrin by Catalyst or a development partner.
Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst, commented, “A strong intellectual property estate has always been a fundamental objective of the company and we are pleased by the Notice of Allowance for this patent application, which further enhances Catalyst’s intellectual property around our CPP-115 drug candidate.” (Original Source)
Shares of Catalyst Pharmaceutical Partners closed yesterday at $3.12. CPRX has a 1-year high of $5.80 and a 1-year low of $2.26. The stock’s 50-day moving average is $3.62 and its 200-day moving average is $4.09.
On the ratings front, CPRX has been the subject of a number of recent research reports. In a report issued on September 10, Roth Capital analyst Scott Henry maintained a Buy rating on CPRX, with a price target of $7, which implies an upside of 124.4% from current levels. Separately, on August 11, Piper Jaffray’s Charles Duncan reiterated a Buy rating on the stock and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Scott Henry and Charles Duncan have a total average return of 17.4% and 1.9% respectively. Henry has a success rate of 51.4% and is ranked #98 out of 3775 analysts, while Duncan has a success rate of 40.6% and is ranked #1681.
Catalyst Pharmaceuticals Inc is abiopharmaceutical company. The Company is engaged in the development and commercialization of prescription drugs targeting rare (orphan) neurological diseases and disorders.