Why Are Catalyst Pharma Shares Trading Higher On Thursday?

Catalyst Pharmaceuticals Inc CPRX has received a favorable decision from the 11th Circuit Court of Appeals in its appeal to overturn a District Court decision upholding the FDA approval of another amifampridine product, Ruzurgi, despite existing Orphan Drug exclusivity for Catalyst's Firdapse (amifampridine).
Amifampridine products are indicated for Lambert-Eaton myasthenic syndrome (LEMS), a rare autoimmune disorder that affects the connection between nerves and muscles.
The FDA granted the approval of Ruzurgi to Jacobus Pharmaceutical Company Inc.
Price Action: CPRX stock is up 8.76% at $5.46 during the market session on the last check Thursday.