Jacobus approval should not impact Catalyst's Firdapse, says Cantor Fitzgerald
The FDA last night approved private company Jacobus' Ruzurgi for the treatment of Lambert-Eaton myasthenic syndrome in patients six to less than 17 years of age, Cantor Fitzgerald analyst Charles Duncan tells investors in a research note. This is the first drug approved for pediatric LEMS, the analyst points out. Catalyst Pharmaceuticals' slightly different salt form of amifampridine, marketed as Firdapse, was the first drug approved for LEMS, but for adults only, he notes. The analyst does not see the approval of Ruzurgi as having a large impact in Firdapse's market potential. He estimates that the pediatric population consists of less than 5% of the prevalent LEMS population. Duncan reiterates an Overweight rating on Catalyst shares with a $10 price target.