Catalyst Pharmaceuticals Inc (NASDAQ:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, announced the appointment of Gary Ingenito, M.D., Ph.D, as Chief Medical Officer. Dr. Ingenito has more than 25 years of experience leading pharmaceutical development for drugs and biologics. In this new role, he will oversee all clinical development programs, medical affairs, regulatory and other related functions. Dr. Ingenito will report to Dr.Steven Miller, Catalyst’s Chief Operating Officer and Chief Scientific Officer. Following Dr. Ingenito’s joining Catalyst, the current Chief Medical Officer,Charles Gorodetzky, M.D., Ph.D, will continue to serve as a consultant to the company.
“I am pleased to welcome Gary to our team. Gary brings broad experience in leading successful development efforts for medicines across various disease states within both biotech and big pharma. Gary is the perfect fit for Catalyst as our product development programs continue to advance. As we near our NDA submission for Firdapse®, we look forward to Gary’s contributions to expanding the use of Firdapse® for other indications, furthering the development of CPP-115, and potentially expanding our development pipeline to include new drugs for other rare diseases.” said Patrick J. McEnany, Chief Executive Officer of Catalyst. He continued “I would also like to thank Chuck Gorodetzky for his significant contributions to Catalyst over the past 10 years and for his commitment to bringing new therapies to people suffering from unmet medical needs.”
Prior to joining Catalyst, Dr. Ingenito spent more than 25 years in the field of pharmaceutical development; including drugs, biologics, and combination products. During this time, Dr. Ingenito has held executive responsibilities for clinical research, regulatory, drug safety, and medical affairs at pharmaceutical companies and contract research organizations. Dr. Ingenito initially joined Sandoz Pharmaceuticals in the neuroendocrine group and progressed to become head of medical affairs. He spent 8 years at Otsuka Pharmaceuticals, overseeing the approval of anti-infective, cardiovascular, and central nervous system products. Dr. Ingenito has also held positions at Corning-Besselaar, SFBC International, Angiotech Pharmaceuticals,Biotest Pharmaceuticals, and, most recently at Boehringer-Ingelheim Pharmaceuticals, where he served as head of regulatory affairs North America for biosimilars. After obtaining his bachelor of arts degree from The Johns Hopkins University, Dr. Ingenito earned his medical degree at Jefferson Medical College, and a doctor of philosophy degree from Thomas Jefferson University. He completed a post-graduate residency in neurology at the University of Miami, Jackson Memorial Hospital.
“This is an exciting time to be joining Catalyst as its Chief Medical Officer. As Catalyst’s first commercial drug, Firdapse®, approaches NDA filing, there will be a number of new systems, procedures, and activities that will be integral to a successful NDA review and product launch, and I look forward to contributing to them.” said Dr. Ingenito. He continued, “I look forward to working with the Catalyst team to help build a successful biopharmaceutical drug company.” (Original Source)
Shares of Catalyst Pharmaceutical Partners closed yesterday at $3.91 . CPRX has a 1-year high of $5.10 and a 1-year low of $2.13. The stock’s 50-day moving average is $3.90 and its 200-day moving average is $3.71.
On the ratings front, MLV & Co. analyst Ram Selvaraju initiated coverage with a Buy rating on CPRX and a price target of $14, in a report issued on June 24. The current price target implies an upside of 258.1% from current levels.
According to TipRanks.com, Selvaraju has a total average return of 8.6%, a 42.7% success rate, and is ranked #582 out of 3684 analysts.
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.