Business
Catalyst Pharmaceuticals Reports Record Third Quarter 2022 Financial Results and Provides a Corporate Update
Achieved Record Q3 2022 FIRDAPSE® Net Revenue of $57.2 Million, a 59.3% YoY Increase Company Increases Full Year 2022 Total Revenue Guidance to $205-210
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Achieved Record Q3 2022 FIRDAPSE® Net Revenue of $57.2 Million, a 59.3% YoY Increase Company Increases Full Year 2022 Total Revenue Guidance to $205-210 Million Q3 2022 GAAP Net Income of $22.7 Million ($0.22 per basic and $0.20 per diluted share), which Includes a One Time Charge of $4.1 Million Related to the Acquisition of Ruzurgi® Cash and Short-Term Investments Increased in Q3 2022 by $35.3 Million to $256.1 Million Non-GAAP Net Income for Q3 2022 of $28.6 Million ($0.28 per basic share and $0.26 per diluted share) Company to Host a Conference Call and Webcast on November 10, 2022, at 8:30 AM ET CORAL GABLES, Fla., Nov. 09, 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 and provided a corporate update for the third quarter of 2022. \"Catalyst delivered another solid quarter driven by record net revenues that exceeded expectations, marking this as another strong quarter of sequential growth of our FIRDAPSE® brand. These results reflect our exceptional commercial execution and continued commitment to the patient community that we serve,\" said Patrick J. McEnany, Chairman and CEO of Catalyst. \"Coupled with sustained organic growth, several significant milestones were achieved during the quarter that further enhance the commercial runway and long-term growth potential for FIRDAPSE®. The extraordinary execution across all segments of our business underscores our core competencies and adds further confidence that we are on the right path to achieving our long-term goals. With robust year-to-date performance and continued momentum going into the fourth quarter, we are raising our 2022 full year total revenue guidance to $205-210 million.\" McEnany continued, \"During the quarter, our priorities continued to be focused on commercial execution, preparing for the launch of our thoracic oncology programs to reach small-cell lung cancer patients with LEMS and diversifying our product portfolio with the acquisition of innovative therapies that address unmet medical needs in rare diseases. Moving ahead, we are well positioned to continue to drive organic growth as we look to strengthen our business with strat...