Business
Catalyst Pharmaceuticals Reports Third Quarter 2021 Financial Results
Continued Strong Financial and Operational Performance in the Third Quarter 2021FIRDAPSE® Revenue of $35.9 Million Increased 23.1% Compared to Third Quarter
About this update from Catalyst Pharmaceuticals, Inc.
[{"type":"text","content":"Continued Strong Financial and Operational Performance in the Third Quarter 2021FIRDAPSE® Revenue of $35.9 Million Increased 23.1% Compared to Third Quarter 2020Plans to Seek to Expand the U.S. Approval of FIRDAPSE To Include Pediatric LEMS PatientsStrong Cash Position $174.8 Million Supports Long-term Growth StrategyCompany to Host Quarterly Conference Call on November 10, 2021, at 8:30 AM ET CORAL GABLES, Fla., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Catalyst Pharmaceuticals, Inc. (Catalyst) (Nasdaq: CPRX), a commercial-stage, patient-centric biopharmaceutical company focused on in-licensing, developing, and commercializing novel high-quality medicines for patients living with rare diseases, today reported financial results for the third quarter ended September 30, 2021, and provided a corporate update. \"We delivered another quarter of strong financial results while making important progress on all fronts,\" said Patrick J. McEnany, Chairman and CEO of Catalyst. \"We reported a record quarter for net sales for FIRDAPSE®, further underscoring the strength of our commercial capabilities while advancing our efforts in support of the orphan drug exclusivity of FIRDAPSE for the treatment of LEMS. We continued to execute on all key growth initiatives, including plans to expand the label for FIRDAPSE to include all LEMS patients, including the very few pediatric patients diagnosed with LEMS. Our quarterly achievements demonstrate continued performance excellence supported by several key strategic decisions that have positioned Catalyst firmly for the future. In saying that, we are excited about the path ahead as we continue to execute across all fronts to drive sustainable growth for the long term. \" Operational Highlights Achieved record net FIRDAPSE revenue in the third quarter of 2021 of $35.9 million driven by strong patient persistency and new patient enrollments, representing a 6.7% increase compared to the second quarter 2021.Received favorable decision from the U.S. 11th Circuit Court of Appeals supporting the orphan drug exclusivity for FIRDAPSE® (amifampridine) Tablets 10 mg for LEMS treatment in the U.S.Strengthened the intellectual property portfolio for FIRDAPSE with a second patent published in the Orange Book, extending the intellectual property to 2034, with additional patents pending.Advancing global expansion initiative...