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 Richard J. Daly to the position of interim Chief Commercial Officer. A member of Catalyst’s board of directors, Daly, 54, will lead pre-commercial activities for Firdapse® while the company conducts a search for an executive to run commercial operations. He replaces David Muth, who has left the company to pursue other opportunities.
“David helped Catalyst with important progress in our pre-commercialization efforts, and we wish him success in his future endeavors,” commentedPatrick J. McEnany, Catalyst’s Chief Executive Officer. “Our team is already fully engaged in carrying out the necessary Firdapse® launch preparations, and we anticipate that all aspects of our pre-commercialization initiatives are on track for a mid-2016 launch of Firdapse® pending a positive FDAreview and approval. As a consultant and in his interim executive role with our company, Rich has the relevant experience to drive the commercial operations forward as we evaluate candidates for this post. Filling this position is a priority for us with an expectation that we will have a permanent chief commercial officer in place no later than Oct. 1.”
Daly has more than 20 years of commercial pharmaceutical experience in positions of progressive responsibility in sales, marketing and operations. Recently, he was the President of U.S. Diabetes for the joint alliance between Bristol-Myers Squibb and AstraZeneca. Before this, he was a founding partner and board member of SagePath Partners LLC, a commercial outsourcing provider to the pharmaceutical industry. During his recent tenure atTakeda Pharmaceuticals, he served as Executive Vice President with P&L responsibility for businesses across the U.S., Canada, and Central/South America. (Original Source)
Shares of Catalyst Pharmaceutical Partners opened today at $3.95 and are currently trading up at $3.96. CPRX has a 1-year high of $5.10 and a 1-year low of $2.01. The stock’s 50-day moving average is $3.90 and its 200-day moving average is $3.50.
On the ratings front, Catalyst Pharmaceutical Partners has been the subject of a number of recent research reports. In a report issued on February 17, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on CPRX, with a price target of $7, which implies an upside of 77.2% from current levels. Separately, on February 2, Roth Capital’s Scott Henry reiterated a Buy rating on the stock and has a price target of $6.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Scott Henry have a total average return of 11.5% and 25.9% respectively. Duncan has a success rate of 55.3% and is ranked #716 out of 3610 analysts, while Henry has a success rate of 66.4% and is ranked #46.
Catalyst Pharmaceutical Partners Inc is a development-stage biopharmaceutical company focused on the development and commercialization of prescription drugs targeting rare (orphan) neurological diseases and disorders.