Why Catalyst Pharmaceuticals Stock Marched Higher This Week
Shares of rare disease specialist Catalyst Pharmaceuticals (NASDAQ: CPRX) jumped by a healthy 10.9% through the first days of trading this week, according to data from S&P Global Market Intelligence. The biotech's stock has been defying the 2022 bear market all year long.
Following this latest double-digit move higher, Catalyst's stock has now gained an eye-catching 125% so far this year. Meanwhile, the bellwether SPDR S&P Biotech ETF has lost a staggering 21.9% of its value in 2022. Catalyst's stock has thus been charging higher in an exceedingly difficult market for biotech stocks at large.
What's fueling the drugmaker's northward move this week? Catalyst posted a fresh 52-week high and a new all-time high this week over excitement about its rapidly growing sales for the Lambert-Eaton myasthenic syndrome (LEMS) drug Firdapse.
Source Fool.com
