Business
Catalyst Pharmaceuticals Reports Strong Second Quarter 2024 Financial Results and Provides Corporate Update
Delivered Robust Revenue Performance, Fueled by Exceptional Commercial Execution and Early Success of the U.S. AGAMREE® Product Launch Reported Record Q2 2024
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Delivered Robust Revenue Performance, Fueled by Exceptional Commercial Execution and Early Success of the U.S. AGAMREE® Product Launch Reported Record Q2 2024 Total Revenues of $122.7 Million, Representing a 23.2% YoY Increase FIRDAPSE® Q2 2024 Net Product Revenues of $77.4 Million, Reflecting Strong Organic 19.2% YoY Growth AGAMREE® Q2 2024 Net Product Revenues of $8.7 Million Demonstrates a Strong Start to U.S. Commercialization FYCOMPA® Q2 2024 Net Product Revenues of $36.5 Million, Representing a 5.7% YoY Increase Q2 2024 GAAP Net Income of $40.8 Million, $0.33 Per Share Diluted Q2 2024 Non-GAAP Net Income of $69.6 Million, $0.56 Per Share Diluted Reaffirming 2024 Total Revenue Guidance of $455 Million – $475 Million, Expecting Results in the Upper Range of the Guidance Conference Call and Webcast to be Held on August 8, 2024, at 8:30 AM ET CORAL GABLES, Fla., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (“Catalyst” or “Company”) (Nasdaq: CPRX) today reported financial results for the second quarter of 2024 and provided a corporate update. \"Since the onset of this year, we have advanced with continued momentum, propelled by the strong performance of our established product portfolio and the successful U.S. commercial launch of AGAMREE. Our accomplishments have significantly strengthened our financial position, aligning with our revenue guidance for the year, and we believe that we are on track to achieve the upper end of our previously provided total revenue forecast,” stated Richard J. Daly, President and CEO of Catalyst. \"With unwavering confidence in our ability to execute our strategic objectives, we remain steadfast in our plans to capitalize on new opportunities to broaden our rare orphan portfolio with innovative and differentiated products and expand our market presence, as exemplified by our recent license agreement for AGAMREE in Canada. As we continue to execute our business strategy, we remain focused on enhancing our growth potential and delivering value to our stakeholders, while prioritizing the needs of our patient communities. Backed by our proven track record and dedicated team, we believe that we are well-positioned for sustained success.\" Financial Highlights For the Three Months Ended June 30, 2024 2023 % Change(In thousands, except per share data) Product Revenue, Net$122,653 $99,...