Catalyst Pharmaceuticals, Inc., a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, announced that the company is reducing its workforce by approximately 30 percent. The reduction in workforce, which affects employees from Catalyst’s commercial team, is part of Catalyst’s ongoing efforts to conserve cash as it works to complete the requirements for an NDA submission of Firdapse® (amifampridine phosphate) for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS).
“I would like to express my sincere appreciation to those employees affected by this difficult but necessary action. This is a loss to our Catalyst family of talented and dedicated individuals who have worked with integrity and passion towards improving the lives of people living with rare diseases,” said Patrick J. McEnany, Chairman and Chief Executive Officer. “The decision to reduce the Company’s workforce has been extremely difficult, but we believe that it is a necessary step to better align our resources and enable us to achieve our goal of bringing Firdapse to market for patients with LEMS and CMS.”
In addition to Catalyst’s continuing efforts with respect to the development of Firdapse for LEMS and related neuromuscular diseases, as well as the other programs in the product pipeline, Catalyst will continue to grow its expanded access program with participating physicians and eligible patients suffering with LEMS and CMS. Further, and while there can be no assurance, Catalyst continues to believe that its currently available resources will be sufficient to complete the development of and refile an NDA for Firdapse for LEMS and CMS.
Catalyst expects to complete the reduction in workforce immediately.