Business
Catalyst Pharmaceuticals Pre-Announces Estimated Firdapse® Revenues and Provides Updates on Advancement of Clinical Development Programs
- Firdapse 2019 Net Product Revenues Expected to be Approximately $102 Million - Anticipates Full Year 2020 Firdapse Net Product Revenues to be in the Range
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"- Firdapse 2019 Net Product Revenues Expected to be Approximately $102 Million\n - Anticipates Full Year 2020 Firdapse Net Product Revenues to be in the Range of $135 million to $155 million - MuSK-MG Clinical Trial Has Met Enrollment Goals and is on Schedule to Report Top-Line Results in First Half of 2020 - Company is Accelerating Business Development Activities CORAL GABLES, Fla., Jan. 06, 2020 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (Catalyst) (Nasdaq: CPRX), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating, chronic neuromuscular and neurological diseases, today provided a corporate update including preliminary net revenue for 2019, the status of Catalyst’s clinical development programs and other corporate matters. “Catalyst has completed its first year as a commercial-stage company following the successful U.S. launch of Firdapse® (amifampridine) for the treatment of adult LEMS patients last January,” said Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst Pharmaceuticals. “In reviewing the launch metrics that we established, we are pleased that Catalyst has exceeded all expectations for product revenues and the number of patients who are currently being treated with Firdapse, including the many individuals who for the first time have received a medicine to treat Lambert-Eaton myasthenic syndrome (LEMS). In 2020 we will roll out additional programs to assist LEMS patients and their healthcare providers. Furthermore, we are on track for completing the MuSK-MG trial and reporting top-line data in the first half of this year as we focus on expanding the possible use of Firdapse as a treatment for other indications, while at the same time we aim to broaden our entire product pipeline.” Corporate Highlights Preliminary Unaudited 2019 Financial Results Catalyst expects to report Firdapse® net product revenues for the treatment of LEMS of approximately $30 million for the fourth quarter of 2019 and Firdapse net product revenues of approximately $102 million for the year 2019.Catalyst expects to report year-end cash and investments of approximately $95 million and no funded debt.No near-term need to raise cash for operations through an equity offering. The above information is based on preliminary unaudited info...