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Catalyst Pharmaceuticals decides against public offering

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.