“Catalyst Pharmaceuticals Inc. is a biotechnology company focused on the treatment of rare neuromuscular and neurological diseases. Angelini Pharma agreed to acquire CPRX for $31.50 per share in cash on May 7. U.S. antitrust approval has already been received. CPRX shareholders approved the transaction on July 8. The transaction is expected to close on July 15.”
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.