Business
Catalyst Pharmaceuticals Reports Record First Quarter 2023 Results, Achieving 98% Total Revenue Growth Year-over-Year
Reports Record Total Revenues of $85.4 Million for Q1 2023 Delivers Revenue Growth of 98%, a Record Increase YoY GAAP EPS Diluted of $0.26 Per Share; a 117%
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Record Total Revenues of $85.4 Million for Q1 2023 Delivers Revenue Growth of 98%, a Record Increase YoY GAAP EPS Diluted of $0.26 Per Share; a 117% Increase YoY Non-GAAP EPS Diluted of $0.41 Per Share, an Increase of 128% YoY Affirms Full Year Total Revenue Guidance of Between $375 Million and $385 Million Forecasts Full-Year 2023 Non-GAAP Net Income of Between $195 Million and $205 Million FYCOMPA® Commercial and Medical Affairs Teams Onboard and Fully Engaged Recently Reported Positive Feedback From the FDA on Submission to Seek Approval of sNDA to Increase the Maximum Daily Dose of FIRDAPSE® From 80mg to 100mg Continuing Efforts to Acquire One or More Commercial or Late-Stage Products Through a Product or Company Acquisition CORAL GABLES, Fla., May 10, 2023 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (\"Catalyst or the Company\") (Nasdaq: CPRX) today reported financial results for the first quarter of 2023 and provided a corporate update. \"Catalyst had an excellent start to the year driven by the sustained organic growth of FIRDAPSE® and compelling revenues from the newly acquired product, FYCOMPA®. The acquisition of FYCOMPA® was strategically transformational, serving as a differentiating impetus and meaningful contributor to our company's long-term growth and exemplary revenue performance,\" stated Patrick J. McEnany, Chairman and CEO of Catalyst. \"The integration of the FYCOMPA commercial and medical affairs teams is now broadly complete with a talented team that is fully trained and engaged. The seamless integration, coupled with the strong quarterly revenue performance, is a testament to the exceptional execution capabilities of the entire Catalyst team.\" Mr. McEnany continued: \"As significant progress is being made across all fronts, business development remains a high priority. Our team continues to make substantial advancements through vigorous evaluation of a robust number of opportunities in pursuit of innovative assets that strategically align and complement our portfolio expansion approach. We remain confident that we are well positioned to fully leverage our accomplishments and further deliver on key initiatives to enhance the long-term value for all of our stakeholders, with an ongoing commitment to our patient communities.\" Financial Highlights (in Millions of U.S. dollars, except per shar...