Catalyst Pharmaceuticals Inc. priced its public offering of 14,285,715 common shares at $3.50 apiece for expected net proceeds of about $46.6 million.
The company has also granted the underwriters an overallotment option to buy up to an additional 2,142,857 shares.
Catalyst plans to use the proceeds to fund clinical studies and precommercialization activities of its MuSK-antibody positive myasthenia gravis and spinal muscular atrophy treatment Firdapse and for general corporate purposes.
The offering is expected to close Nov. 30.
Piper Jaffray & Co. is acting as the lead book runner. SunTrust Robinson Humphrey Inc. is also acting as a book runner. H.C. Wainwright & Co. is acting as lead manager and Roth Capital Partners is acting as co-manager for the offering.