Business
Catalyst Pharmaceuticals Reports Strong Second Quarter 2023 Financial Results and Provides Corporate Update
Achieved Record Q2 2023 Total Net Revenues of $99.6 MillionAchieved FIRDAPSE® 2023 Second Quarter Net Revenues of $64.9 Million, a 22% Increase YOYAchieved
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Achieved Record Q2 2023 Total Net Revenues of $99.6 MillionAchieved FIRDAPSE® 2023 Second Quarter Net Revenues of $64.9 Million, a 22% Increase YOYAchieved 2023 Second Quarter GAAP EPS Diluted of $0.33 Compared to $0.20 for Q2 2022Achieved 2023 Second Quarter Non-GAAP EPS Diluted of $0.53 Compared to $0.28 for Q2 2022During Q3-23 Completed the Acquisition of the North American License for VamoroloneSubmitted sNDA for FIRDAPSE Seeking to Increase the Maximum Indicated Dose to 100 mg per DayCompleted the Integration of our FYCOMPA® Commercial and MSL TeamsRaising Full Year 2023 Total Revenue Guidance of Between $380 Million and $390 MillionConference Call and Webcast to be Held on August 10, 2023, at 8:30 AM ET CORAL GABLES, Fla., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (“Catalyst” or “the Company”) (Nasdaq: CPRX) today reported financial results for the second quarter of 2023 and provided a corporate update. \"We are extremely pleased with the remarkable progress we achieved during the first half of 2023, fueled by the sustained and exceptional organic growth of FIRDAPSE, a significant contributor to our revenue accomplishments. Moreover, our sales of FYCOMPA, which we acquired at the end of January 2023, have bolstered our success for the first half of 2023, and we have recently completed our integration of the FYCOMPA team and believe that FYCOMPA will be a synergistic and meaningful contributor to our future revenue potential,\" stated Patrick J. McEnany, Chairman and CEO of Catalyst. \"Our most recent acquisition, which we closed in July, is the North American license for vamorolone, a late-stage asset with a PDUFA action date of October 26th, 2023, for the treatment of Duchenne muscular dystrophy. Assuming approval, this product is expected to further strengthen our neuromuscular product portfolio. Results achieved from these significant accomplishments have established a robust foundation to advance our strategic initiatives and reinforce the durability of our near and long-term growth potential. We look forward to achieving numerous important milestones in the second half of this year to further build an even more vital business.\" Financial Highlights (in Millions of U.S. dollars, except per share data, unaudited) For the Three Months Ended June 30, 2023 2022% Change Total Net Product Revenues$99....