Catalyst Pharmaceuticals Inc. will not go forward with a public offering of its common shares.
The Coral Gables, Fla.-based company said offering its shares at the current market price is not in the best interest of the company and its stockholders.
The company's stock price was $7.43 as of Sept. 11, the day it announced the offering.
Catalyst Pharmaceuticals is a biopharmaceutical company that develops and commercializes therapies for rare debilitating, chronic neuromuscular and neurological diseases.
