Business
Catalyst Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update
Achieved Record 2022 Total Net Revenues of $214 Million, a 52% YoY Increase Achieved FIRDAPSE® Q4 2022 Net Product Revenues of $61 Million, a 59% YoY Increase
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Achieved Record 2022 Total Net Revenues of $214 Million, a 52% YoY Increase Achieved FIRDAPSE® Q4 2022 Net Product Revenues of $61 Million, a 59% YoY Increase Newly Acquired FYCOMPA® Product Expected to be Accretive to EBITDA and EPS in 2023 Reaffirming Forecast of 2023 Total Net Product Revenues, including FYCOMPA, of between $375 Million and $385 Million Recently Acquired Patents Further Strengthens FIRDAPSE Long-Term Commercial Potential to 2037 Actively Pursuing Opportunities to Further Diversify our Product Portfolio Ended 2022 with Cash and Cash Equivalents of $298 Million Company to Host a Conference Call and Webcast on Thursday, March 16, 2023, at 8:30 AM ET CORAL GABLES, Fla., March 15, 2023 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (“Catalyst”) (Nasdaq: CPRX), a commercial-stage biopharmaceutical company focused on in-licensing, developing, and commercializing novel medicines for patients living with rare diseases, today reported financial results for the fourth quarter and full year 2022 and provided a business update. “Catalyst delivered an exceptional performance as we ended 2022 with robust revenue growth driven by another consecutive quarter of strong organic growth, further adding to our already substantial balance sheet. Our exceptional financial results and continued momentum underscore the successful execution of our strategic initiatives across all fronts, and we believe that we are poised to deliver another record year of sustained growth in 2023,” stated Patrick J. McEnany, Chairman and CEO of Catalyst. “Over the year, we strategically and financially transformed our business with a focused approach to accelerating growth and portfolio expansion. As we entered 2023, we broadened our portfolio with the acquisition of FYCOMPA®, further strengthening our position within key neuroscience markets. As we look to complete the successful integration of the FYCOMPA franchise by mid-year, we will continue to drive organic growth across our product portfolio while capturing synergies with the FIRDAPSE® franchise to capitalize on the compelling revenue potential of our expanding product portfolio.” McEnany continued, “We remain confident in our ability to accelerate our business’s growth potential as we continue to evaluate opportunities to further expand our product portfolio with clinically differentiated me...