CATALYST PHARMACEUTICALS, INC.

Catalyst Pharmaceuticals, Inc. announced that the U.S. Federal Trade Commission (FTC) granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its merger with Angelini Pharma S.p.A. This clearance, received on June 16, 2026, removes a significant condition for the merger. The closing of the merger, which was initially announced on May 6, 2026, is now primarily subject to the adoption of the Merger Agreement by Catalyst's shareholders and other customary closing conditions. The parties anticipate the transactions to close in the third quarter of 2026.

Catalyst Pharmaceuticals reported strong first quarter 2026 financial results, with total product revenue increasing 5.6% year-over-year to $149.3 million. GAAP net income rose 12.3% to $63.7 million, and diluted GAAP EPS was $0.50. The company also reported a significant reduction in FIRDAPSE royalty rates and ended the quarter with $755.9 million in cash and no funded debt. Due to a prior announcement, the company will not provide forward-looking guidance or host an earnings call.

Catalyst Pharmaceuticals announced a definitive merger agreement with Angelini Pharma S.p.A. on May 6, 2026, under which Catalyst will become a wholly-owned subsidiary of Angelini Pharma. Concurrently, the company reported strong first-quarter 2026 financial results, with net income rising to $63.7 million and total revenues reaching $149.4 million. Product revenues for FIRDAPSE® and AGAMREE® showed significant growth, while FYCOMPA® sales experienced a decline.

Catalyst Pharmaceuticals reported strong first quarter 2026 financial results, with total revenues reaching $149.4 million, marking a 5.6% year-over-year increase. Net product revenues from its promoted products, FIRDAPSE and AGAMREE, collectively grew by 28.2% to $135.6 million. The company achieved GAAP net income of $63.7 million and non-GAAP net income of $100.3 million, representing increases of 12.3% and 15.8% respectively. Catalyst ended the quarter with a robust cash position of $755.9 million and no funded debt, benefiting from reduced FIRDAPSE royalty rates.

Catalyst Pharmaceuticals has cancelled its first quarter 2026 earnings conference call and webcast, which was previously scheduled for May 12, 2026. This decision was made in light of the pending acquisition of Catalyst by Angelini Pharma S.p.A., which was announced today. The company still plans to release its first quarter 2026 financial results after market close on Monday, May 11, 2026, as originally scheduled.

Catalyst Pharmaceuticals, Inc. will be acquired by Angelini Pharma S.p.A. for $31.50 per share in cash, totaling approximately $4.1 billion. This represents a 28% premium to Catalyst's 30-day volume-weighted average trading price as of April 22, 2026. The transaction, unanimously approved by both boards, is expected to close in the third quarter of 2026, facilitating Angelini Pharma's entry into the U.S. market and bolstering its rare disease portfolio. Additionally, Catalyst resolved its FIRDAPSE patent litigation with Hetero Labs Ltd., allowing generic market entry no earlier than January 2035.

Catalyst Pharmaceuticals announced a settlement agreement with Hetero Labs Ltd. and its affiliates, resolving patent litigation concerning Hetero's Abbreviated New Drug Application (ANDA) for a generic version of FIRDAPSE. Under the agreement, Hetero will not market its generic FIRDAPSE in the U.S. before January 2035. This settlement concludes all pending patent litigation related to FIRDAPSE, with all ongoing court cases to be terminated.

CATALYST PHARMACEUTICALS, INC. filed Amendment No. 1 to its 2025 Form 10-K to include information for Part III, Items 10 through 14, which cover Directors, Executive Officers, Corporate Governance, Executive Compensation, Security Ownership, Related Transactions, and Principal Accountant Fees. The amendment also includes new certifications from the principal executive and financial officers. It details the company's executive compensation philosophy and the 2025 corporate goals for cash bonuses, which included revenue targets for FIRDAPSE® and AGAMREE®.

Catalyst Pharmaceuticals, Inc. announced it will release its first quarter 2026 financial results after the market closes on Monday, May 11, 2026. Following the release, the company's management team will host a conference call and webcast on Tuesday, May 12, 2026, at 8:30 AM ET to discuss the results and provide a business update. Details for accessing the call and webcast were provided.