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Why Catalyst Pharmaceuticals Stock Is Tumbling Today

TheMotleyFool

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Why Catalyst Pharmaceuticals Stock Is Tumbling TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Catalyst Pharmaceuticals (NASDAQ: CPRX), which specializes in drugs for rare diseases, are down by 12.7% as of 11:06 a.m. EDT. The culprit?

Oddly enough, Catalyst's shares are tumbling by double digits this morning without a discernible news event. That's not completely abnormal for small-cap biotech stocks, but this latest move lower does arguably underscore just how nervous the market is about the company's ongoing lawsuit against the Food and Drug Administration over the approval of Jacobus Pharma's Lambert-Eaton myasthenic syndrome (LEMS) drug, Ruzurgi, last May.

Image source: Getty Images.

Source Fool.com

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