Business
Catalyst Pharmaceuticals Reports Fourth Quarter and Year-End 2019 Financial Results and Provides Corporate Update
-Firdapse® Q4 Net Revenues of $30 Million, FY 19 Net Revenues of $102 Million -GAAP Net Income of $32 Million for Fiscal Year 2019 -Catalyst Reiterates Net
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"-Firdapse® Q4 Net Revenues of $30 Million, FY 19 Net Revenues of $102 Million\n -GAAP Net Income of $32 Million for Fiscal Year 2019 -Catalyst Reiterates Net Revenue Guidance in the Range of $135 Million to $155 Million for FY 2020 -Firdapse Supply Chain in Solid Position-Significant Safety Stock -Company to Host Quarterly Conference Call at 8:30 am ET Tomorrow CORAL GABLES, Fla., March 16, 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 reported financial results for the fourth quarter and year-ended December 31, 2019 and provided a corporate update. Patrick J. McEnany, Catalyst’s Chairman and CEO, stated: \"2019 was an outstanding year for Catalyst as we evolved into a commercial-stage pharmaceutical company and successfully launched Firdapse® (amifampridine) tablets 10 mg in the U.S. for the treatment of adult LEMS patients. I am very proud of our patient-centric team’s performance and it is inspiring to see how we are improving the lives of LEMS patients every day.\" Mr. McEnany continued: “Catalyst has exceeded all expectations for product revenues and the number of patients who are currently being treated with Firdapse. We remain dedicated to expanding our label for Firdapse to include other neuromuscular conditions, including MuSK-MG where we expect to report top-line data in the second quarter of this year.” Mr. McEnany continued: “In the face of the coronavirus Covid-19 outbreak, we have been asked by patients, healthcare providers and investors about our ability to provide a continuous uninterrupted supply of Firdapse. Let me reassure you that we are well prepared and well-stocked for any contingencies. Our API (active pharmaceutical ingredients) and finished dosage form are sourced from U.S. manufacturers, which are some of the largest in the world. We also have a qualified second U.S. manufacturer of our finished dosage form, if ever required. Finally, as of today we have more than an adequate supply of Firdapse ready for shipment in the warehouse to meet patients' needs through the end of this year. We currently have a campaign underway that will within the next two weeks provide another ...