Piper sees ‘rapid adoption’ for Catalyst’s Firdapse in LEMS

Catalyst Pharmaceuticals’ Firdapse was approved by the FDA yesterday for the treatment of Lambert-Eaton myasthenic syndrome with no surprises in the label, Piper Jaffray analyst Joseph Catanzaro tells investors in a research note. The analyst continues to believe that Firdapse is likely to see “rapid adoption” in LEMS, noting that it is now the first and only approved product for this orphan neuromuscular indication. He keeps an Overweight rating on shares of Catalyst Pharmaceuticals with a $5 price target pending greater clarity on a pricing strategy.
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