Catalyst Pharma (NASDAQ: CPRX) okays $200M share repurchase

Rhea-AI Filing Summary

Catalyst Pharmaceuticals, Inc. disclosed that its Board of Directors has approved a share repurchase program authorizing the company to buy back up to $200 million of its common stock. The program runs from October 1, 2025 through December 31, 2026.

The company may repurchase shares through methods such as open market purchases or privately negotiated transactions. The timing and amount of any repurchases will depend on factors including stock price, business and market conditions, regulatory requirements, and alternative investment or acquisition opportunities. Catalyst plans to use existing cash on hand to fund the program, is not obligated to repurchase any specific amount, and may suspend or terminate the program at any time.

Insights

Equity Capital Allocation Analyst

Catalyst authorizes a flexible $200M cash-funded share buyback.

Catalyst Pharmaceuticals has authorized a share repurchase program of up to $200 million in common stock between October 1, 2025 and December 31, 2026. This gives the company a defined capital allocation tool to return value to shareholders when management views the share price and conditions as attractive.

The program is deliberately flexible: repurchases may occur via open market or privately negotiated transactions, and the company is not required to buy any minimum amount. The decision to repurchase will consider stock price, business and market conditions, regulatory constraints, and alternative investment or acquisition opportunities, which means actual activity could vary widely over the authorization period.

Because the program is funded from existing cash on hand, it does not introduce new equity or debt in this disclosure. The ultimate impact on share count and per-share metrics will depend on how much of the $200 million authorization is used and at what prices, which will only become clear through future disclosures.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): October 1, 2025

CATALYST PHARMACEUTICALS, INC.

(Exact Name Of Registrant As Specified In Its Charter)

Delaware		001-33057		76-0837053
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

355 Alhambra Circle
Suite 801
Coral Gables, Florida		33134
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (305) 420-3200

Not Applicable

Former Name or Former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Name of Exchange on Which Registered		Ticker Symbol
Common Stock, par value $0.001 per share		NASDAQ Capital Market		CPRX

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this Chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

On October 1, 2025, the Company issued a press release announcing that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $200 million of its common stock between October 1, 2025 and December 31, 2026. Repurchases under the new share repurchase program may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. The Company is not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time. The Company plans to use existing cash on hand to fund its share repurchase program.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1		Press release issued by the Company on October 1, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Catalyst Pharmaceuticals, Inc.
By:		/s/ Michael W. Kalb
		Michael W. Kalb
		Executive Vice President and Chief Financial Officer

Dated: October 1, 2025

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FAQ

What did Catalyst Pharmaceuticals (CPRX) announce in this 8-K?

Catalyst Pharmaceuticals announced that its Board of Directors approved a share repurchase program authorizing the company to buy back up to $200 million of its common stock.

How large is Catalyst Pharmaceuticals' new share repurchase program?

The new share repurchase program authorizes Catalyst Pharmaceuticals to repurchase up to $200 million of its common stock.

What is the time frame for Catalyst Pharmaceuticals' $200 million buyback?

The share repurchase program covers the period from October 1, 2025 through December 31, 2026.

How will Catalyst Pharmaceuticals fund its share repurchases?

Catalyst Pharmaceuticals plans to use its existing cash on hand to fund the share repurchase program.

Is Catalyst Pharmaceuticals required to repurchase the full $200 million of stock?

No. The company is not obligated to repurchase any specific amount of shares, and the program may be suspended or terminated at any time.

How may Catalyst Pharmaceuticals execute the share repurchases?

Repurchases may be made through a variety of methods, including open market purchases or privately negotiated transactions.