Catalyst Pharmaceuticals Reports Strong Financial Results and Corporate Update

Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) recently filed a Form 8-K with the Securities and Exchange Commission, detailing its financial performance for the third quarter of 2024. The company reported total revenues of $128.7 million for the quarter, marking a significant 25.3% year-over-year increase. This growth was primarily driven by the continuous organic expansion of its rare disease portfolio.

The financial highlights for the third quarter of 2024 included robust net product revenues, with FIRDAPSE® generating $79.3 million (up 19.7% year-over-year), AGAMREE® recording net product revenues of $15.0 million, and FYCOMPA® reporting $32.1 million in net product revenues. The company posted a GAAP net income of $43.9 million, translating to $0.35 per share, and a non-GAAP net income of $71.1 million, equivalent to $0.57 per share.

Catalyst Pharmaceuticals revised its full-year 2024 guidance, now expecting total revenues to fall between $475 million and $485 million. The company also updated its net product revenue forecasts, anticipating FIRDAPSE to generate $300 million to $310 million, while FYCOMPA is projected to yield between $130 million and $135 million. AGAMREE’s net product revenue guidance was increased to a range of $40 million to $45 million.

In its corporate update, Catalyst Pharmaceuticals revealed it has strategic initiatives in place to broaden its global presence and address unmet medical needs. The company has secured regulatory approval in Japan for the commercialization of FIRDAPSE 10 mg tablets and signed an exclusive agreement with KYE Pharmaceuticals, Inc. for the Canadian commercial rights to AGAMREE.

Catalyst Pharmaceuticals will be hosting a conference call and webcast on November 7, 2024, at 8:30 AM ET to discuss these financial results and provide further insights into its business operations. Interested parties can access the webcast through the investor section of Catalyst’s website.

Investors and stakeholders in the pharmaceutical industry will be keen to follow Catalyst Pharmaceuticals as it continues to demonstrate operational excellence and strategic growth in its rare disease portfolio.

Please note that the information provided is based on the Form 8-K filing submitted by Catalyst Pharmaceuticals to the SEC. For more detailed financial analysis and information, kindly refer to Catalyst’s latest filings with the SEC.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Catalyst Pharmaceuticals’s 8K filing here.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.