Categories Earnings, Health Care

Catalyst Pharmaceuticals’ Q1 results beat estimates

Catalyst Pharmaceuticals (NASDAQ: CPRX) reported first-quarter 2019 revenue and earnings that surpassed analysts’ expectations. Shares climbed around 4% in premarket hours on Monday.

Total net revenue was $12.4 million in the first quarter of 2019. Net loss was $645,000, or $0.01 per share, compared to $5.7 million, or $0.06 per share, in the same period last year.

Research and development expenses were $3.3 million, in line with the first quarter of 2018. Cost of sales was $1.7 million.

Catalyst received FDA approval of the Firdapse new drug application in November and commercially launched Firdapse in January. As of May 9, 409 unique LEMS patients were prescribed Firdapse and 380 LEMS patients were active on Firdapse.

In the second half of 2019, Catalyst expects topline results from the Phase 3 trials for MuSK-MG and CMS and in the first half of 2020, the company expects topline results for the SMA Type 3 proof of concept trial.

At March 31, 2019, Catalyst had cash and cash equivalents and investments of $50.6 million and no funded-debt. The company believes that its existing capital resources will be sufficient to support its planned operations for at least the next year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Viewing Highlight