Shares closed at $30.52 on Wednesday as the Nasdaq rose 2.02% and the Dow gained 1.24%.
The decline ended a three-day winning streak and left the stock 6.27% below its 52-week high of $32.56 reached on April 27.
Catalyst underperformed mixed peer moves from Johnson & Johnson, Pfizer and Abbott, while trading volume of 1.8 million topped its 50-day average of 1.5 million.
Why is Wall Street undervaluing a profitable drugmaker with record earnings and strong growth forecasts?
With a potential buyout looming, is Catalyst Pharma’s stock drop a warning sign or a final buying opportunity?
As US drug price negotiations intensify, can Catalyst's rare disease focus protect it from the industry's biggest threat?