Business
Catalyst Pharmaceuticals Reports Record First Quarter 2022 Financial Results And Provides Corporate Update
Achieved Record Revenues of more than $43 Million, a 42.7% Increase YoY Three New Patents Issued; Now Five Orange-Book Listed Patents for FIRDAPSE®
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Achieved Record Revenues of more than $43 Million, a 42.7% Increase YoY Three New Patents Issued; Now Five Orange-Book Listed Patents for FIRDAPSE® Significant Cash Position of $198 Million and No Funded Debt Advanced Plans to Diversify and Invest in Innovative Rare Disease Opportunities Reaffirms FY 2022 Total Revenue Guidance of $195 Million to $205 Million Company to Host a Conference Call and Webcast on May 11, 2022, at 8:30 AM ET CORAL GABLES, Fla., May 10, 2022 (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 first quarter 2022 and provided a corporate update. \"I am proud of Catalyst’s solid progress in the first quarter of 2022, where we delivered record revenues, driven in part, by new patients converting to FIRDAPSE® following the removal of Ruzurgi® from the U. S. market in February 2022. Our accomplishments exemplify our exceptional commercial and patient services capabilities and steadfast commitment to the LEMS patient community that we serve,\" said Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst. \"We also achieved several meaningful milestones during the quarter, including the issuance of three new patents that we believe position us to deliver sustainable long-term growth for FIRDAPSE. We anticipate this to be a transformative year for Catalyst, as we work with increased momentum to diversify and invest in innovative therapeutic opportunities for rare diseases. We approach these objectives from a position of strength and look forward to enhancing our growth potential near-term, as well as adding long-term value for all of our stakeholders.\" RECENT BUSINESS HIGHLIGHTS Reported record total revenue of $43.1 million for the first quarter of 2022, compared to $30.2 million in the comparable 2021 period, a 42.7% increase, reflecting steady growth for FIRDAPSE® (amifampridine) Tablets 10 mg for the treatment of Lambert-Eaton myasthenic syndrome (\"LEMS\") in adults.Recently completed the seamless transition of numerous LEMS patients who were former Ruzurgi patients converting to FIRDAPSE treatment, with the support provided by our Catalyst Pathways® assistance program...