Catalyst Pharmaceuticals, Inc. research snapshot
CPRX AI stock analysis now documents the completed Angelini Pharma acquisition rather than an open market investment. Angelini Pharma closed the merger on July 15, 2026, converting every outstanding Catalyst Pharmaceuticals share into $31.50 in cash, representing a total equity value of approximately $4.1 billion. CPRX traded for the last time on July 14, 2026 at $31.49 and was suspended from Nasdaq on July 16, 2026. The final verified financial snapshot showed $596.96 million in trailing revenue, $221.32 million in net income with a 37% profit margin, and $755.86 million in cash with minimal debt. Because the stock no longer trades, this page explains the realized transaction, the last available financials, and how the deal outcome was reached. This page is informational only and not investment advice.
Current price
$31.49 (final close)
Market cap
$3.85 billion (at final close)
AI score
74 / 100
Rating
Profitable rare-disease biopharma acquired by Angelini Pharma at $31.50 per share; stock delisted
Trend status
Merger closed July 15, 2026; CPRX delisted from Nasdaq and shares converted to $31.50 cash
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Catalyst in-licensed, developed, and commercialized medicines for rare neuromuscular and neurological diseases. Its portfolio included FIRDAPSE for LEMS, AGAMREE for DMD, and FYCOMPA for epilepsy, generating $596.96 million in trailing revenue with a 37% net margin. | High |
| Moat | The moat came from FDA-approved orphan drugs with limited competition, rare-disease commercial infrastructure, regulatory exclusivity, and IP protecting FIRDAPSE. Patent settlements with Teva, Lupin, Inventia, and Hetero kept generic FIRDAPSE entry at or after 2035. | Medium-high |
| Management | President and CEO Rich Daly led Catalyst from a single-product company to a multi-product rare-disease platform and secured the Angelini Pharma merger, which delivered $31.50 per share in cash to stockholders. After closing, he moved to lead Angelini Pharma global rare-disease operations. | Medium-high |
| Financial trend | FY2025 revenue was $588.99 million with $214.33 million in net income. Q1 2026 added $149.39 million in revenue and $63.73 million in net income. The balance sheet held $755.86 million in cash with minimal debt before the merger closed. | High |
| Valuation | The acquisition fixed the exit value at $31.50 per share cash, a total equity value of about $4.1 billion. At the $31.49 final close, trailing metrics showed about 18.2x EPS, 6.5x revenue, and 3.8x book value. The offer sat near the top of the historical $19.05 to $32.56 range. | Medium |
| Technical trend | Technical analysis is now historical. CPRX closed at $31.49 on July 14, 2026, was halted after that close, and was suspended from Nasdaq on July 16, 2026 after the merger closed. The 52-week range was $19.05 to $32.56 and the 200-day average was near $25.90. | Medium |
| Risk level | Merger and regulatory risk resolved when the deal closed on July 15, 2026. The remaining risks for stockholders were purely about the value of the cash consideration relative to the standalone business, because the shares no longer trade. | High |
| AI confidence | Reported financials, merger terms, and the completed transaction are well documented in SEC filings and the Angelini press release. AI cannot project the future performance of the combined Angelini Pharma business or the reinvestment value of the cash proceeds. | High data confidence |
| Investment certainty | Certainty that stockholders received $31.50 per share in cash at closing is high, confirmed by the merger completion 8-K and the Angelini Pharma press release. Certainty about a comparable future public investment in the CPRX business is low because the stock is delisted. | Medium-high |
CPRX AI stock forecast
The CPRX AI stock forecast is retrospective because the Angelini Pharma acquisition closed on July 15, 2026 at $31.50 per share in cash and the stock was delisted. A local financial-rigor reference calculation using $1.73 EPS, 10%, 3%, and -5% growth assumptions, and 20x, 15x, and 10x target multiples produced reference values near $46.10, $28.40, and $14.80, but those scenarios are now historical inputs to the negotiated $31.50 outcome, not a trading forecast for a stock that no longer trades.
N/A (deal closed at $31.50)
The merger closed on July 15, 2026 and every share converted to $31.50 in cash. The bullish outcome for pre-close holders is the delivered premium versus the pre-announcement trading levels near $26. For the combined business, upside depends on Angelini Pharma growing the rare-disease portfolio, which is no longer priced as CPRX stock.
$31.50 per share realized
This is the realized outcome. Stockholders received $31.50 per share in cash, a total equity value of approximately $4.1 billion, with the transaction approved by both boards and Catalyst stockholders before closing in the third quarter of 2026.
N/A (deal closed at $31.50)
The bearish case would have applied only if the deal had failed and Catalyst traded as a standalone company facing FYCOMPA generic erosion, FIRDAPSE exclusivity tail risk, and pipeline execution risk. That scenario did not occur because the merger closed on the agreed terms.
CPRX AI technical analysis
CPRX AI technical analysis is presented as a historical snapshot because the stock stopped trading. The final close was $31.49 on July 14, 2026, trading was halted after that close, and Nasdaq suspended the stock on July 16, 2026 after the merger closed. Conventional technical analysis no longer applies to a delisted security; the levels below describe where the stock traded before delisting.
| Level | Value | Why it matters |
|---|---|---|
| Final close | $31.49 | Last regular-session close on July 14, 2026, the day before the merger closed. |
| Merger consideration | $31.50 | Cash consideration per share under the Angelini Pharma merger agreement, paid at closing. |
| 52-week high | $32.56 | Yahoo Finance 52-week high reported while the stock was still trading. |
| 52-week low | $19.05 | Yahoo Finance 52-week low reported while the stock was still trading. |
| 200-day moving average | $25.90 | Historical 200-day average before delisting, well below the final close. |
| 50-day moving average | $31.37 | Historical 50-day average reflecting the post-announcement trading range near the offer. |
| Pre-announcement level | near $26.00 | Approximate unaffected trading level before the May 7, 2026 deal announcement. |
| Beta | 0.74 | Five-year beta reported by Yahoo Finance, below the broad market average. |
| Volume | 2.55 million shares, average | Average daily volume reported while the stock was trading. |
| Volatility | Limited after announcement | Price was pinned near the offer after the deal announcement and before the close. |
| Invalidation | No live market | The stock is delisted, so invalidation levels have no trading meaning. These levels only describe the historical range before the merger closed. |
CPRX AI trading strategy
The CPRX AI trading strategy is a research framework, not personalized advice. Because the stock was delisted on July 16, 2026 after the merger closed, there is no CPRX position to open or manage. The framework below explains how the merger-arbitrage thesis resolved, and what to monitor if you reinvest the cash proceeds in the rare-disease space.
Before the close, the setup was capturing the spread between the market price and the $31.50 offer. The merger closed on July 15, 2026, so that spread was realized: shares converted to $31.50 cash and the position terminated. There is no remaining spread to capture.
The historical risks were deal failure, delayed close, and regulatory issues. Those risks are resolved. If you still hold the cash or assets, the control now is a reinvestment decision based on your own risk limit and research, not on CPRX trading signals.
If the deal had failed, Catalyst would have traded on FIRDAPSE trends, AGAMREE adoption, FYCOMPA generic exposure, and cash position. That scenario did not occur, but the reference three-scenario calculation shows how the $31.50 price compared with standalone valuation bands.
Since the deal closed, no standalone risk control is actionable for CPRX. Use the historical valuation bands only to judge whether the $31.50 consideration was reasonable relative to the standalone business.
For holders receiving $31.50 per share in cash, the relevant decision is how to reinvest. Compare the realized value against the fundamentals of the combined Angelini Pharma business and against other rare-disease biopharma opportunities, using the same research disciplines applied here.
Set your own position rules, diversification, and loss limits. Review updated public filings of Angelini Pharma or comparable rare-disease companies before reinvesting, because the CPRX ticker no longer provides a market signal.
Investment research summary
Catalyst turned rare-disease drug in-licensing and commercial execution into revenue by bringing approved therapies to small, well-defined patient populations. Its customers were patients with LEMS, DMD, and epilepsy, along with their physicians and payers, and the business was purchased by Angelini Pharma for $31.50 per share in cash.
The moat was built from FDA orphan-drug approvals, regulatory exclusivity periods, rare-disease commercial infrastructure, and IP protection for FIRDAPSE. Settlements with Teva, Lupin, Inventia, and Hetero pushed generic FIRDAPSE entry to or after 2035, which strengthened the standalone value captured by the merger.
The thesis could have failed if the acquisition fell through, FIRDAPSE faced faster generic erosion, AGAMREE adoption disappointed, FYCOMPA continued losing share to generics, or pipeline candidates failed. The merger closed on July 15, 2026, so the standalone failure paths did not play out before the cash conversion.
CEO Rich Daly drove Catalyst from a single-product company to a multi-product rare-disease platform with FIRDAPSE, AGAMREE, and FYCOMPA, and negotiated the Angelini Pharma acquisition that delivered $31.50 per share. He then transitioned to lead Angelini Pharma global rare-disease operations.
Rare-disease biopharma attracted premium valuations because of high unmet need, regulatory incentives, and pricing power. The Angelini Pharma deal reflected European pharma interest in U.S. market entry and consolidation of brain-health and rare-disease portfolios, a trend that shaped the premium paid.
The $31.50 per share cash offer, about $4.1 billion in total equity value, sat near the top of the historical trading range and above the pre-announcement levels near $26. For pre-close holders the margin of safety was the guaranteed cash conversion at closing. For new investors, no margin of safety exists because the stock no longer trades.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Merger completion | Angelini Pharma closed the acquisition of Catalyst on July 15, 2026. Each outstanding share converted to $31.50 in cash, a total equity value of approximately $4.1 billion. Catalyst common stock ceased trading on the Nasdaq Global Market. | Angelini Pharma press release, July 16, 2026 | August 4, 2026 |
| Delisting and trading suspension | Trading was halted after the July 14, 2026 close, and Nasdaq suspended Catalyst common stock on July 16, 2026. The company notified Nasdaq of the merger consummation and requested removal from listing. | Catalyst Pharmaceuticals Form 8-K, July 15, 2026 (SEC) | August 4, 2026 |
| FY2025 financial results | Total revenues of $588.99 million, product revenue of $588.81 million (FIRDAPSE $358.38 million, FYCOMPA $113.34 million, AGAMREE $117.09 million), net income of $214.33 million. | Catalyst Pharmaceuticals Form 10-K for FY2025 (SEC) | August 4, 2026 |
| Q1 2026 financial results | Total revenues of $149.39 million, product revenue of $149.34 million (FIRDAPSE $98.86 million, AGAMREE $36.71 million, FYCOMPA $13.77 million), net income of $63.73 million, basic EPS of $0.52. | Catalyst Pharmaceuticals Form 10-Q for Q1 2026 (SEC) | August 4, 2026 |
| Trailing financials and balance sheet | Trailing revenue of $596.96 million and net income of $221.32 million (37.08% profit margin). At March 31, 2026, Catalyst held $755.86 million in cash with $2.68 million in total debt. | Yahoo Finance statistics and Catalyst Form 10-Q (SEC) | August 4, 2026 |
| Final market snapshot | Final close of $31.49 on July 14, 2026, market capitalization of $3.85 billion, 52-week range $19.05 to $32.56, five-year beta 0.74, average volume 2.55 million shares. Trailing P/E 18.20, price/sales 6.46, price/book 3.80. | Yahoo Finance statistics | August 4, 2026 |
| Hetero patent settlement | Catalyst and its licensor SERB settled FIRDAPSE patent litigation with Hetero on May 7, 2026. Hetero will not market generic FIRDAPSE before January 2035 unless limited circumstances occur, and Catalyst agreed to pay an $11.0 million litigation avoidance fee. | Catalyst Pharmaceuticals Form 10-Q for Q1 2026 (SEC) | August 4, 2026 |
| FYCOMPA generic competition | Following the expiry of the key FYCOMPA patents in May 2025 and July 2026, three generic versions of the tablets and one generic version of the oral suspension came to market. Q1 2026 FYCOMPA revenue fell to $13.77 million from $35.63 million in Q1 2025. | Catalyst Pharmaceuticals Form 10-K and Form 10-Q (SEC) | August 4, 2026 |
| Financial-rigor verification | Market-cap math passed at 0.07% variance at the final close; TTM revenue and net income cross-validation passed; valuation and three-scenario calculations were run locally. | Pineify tools/financial_rigor.py local run | August 4, 2026 |
This CPRX AI stock analysis page is an informational tool only. It is not investment advice, a solicitation, or a guarantee of returns. The Angelini Pharma acquisition closed on July 15, 2026 at $31.50 per share in cash and CPRX was delisted from Nasdaq, so the figures and scenarios describe a completed transaction as of August 4, 2026 and can be wrong if post-merger outcomes differ, reinvestment decisions change, or market conditions shift.
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