Why Is Catalyst (CPRX) Up 8.3% Since Last Earnings Report?

Core Insights - Catalyst Pharmaceutical reported adjusted earnings of 56 cents per share for Q2 2024, exceeding the Zacks Consensus Estimate of 42 cents and showing growth from 53 cents in the same quarter last year [2] - Total revenues reached $122.7 million, a 23% year-over-year increase, surpassing the Zacks Consensus Estimate of $111.6 million [2] Revenue Breakdown - Firdapse sales amounted to $77.4 million, reflecting a 19.2% year-over-year growth and beating the Zacks Consensus Estimate of $72.5 million [3] - Fycompa generated net product revenues of $36.5 million, exceeding the Zacks Consensus Estimate of $33.2 million and showing a year-over-year growth of 5.7% [5] - Agamree, launched in March 2024, generated revenues of $8.7 million in its first full quarter, surpassing the Zacks Consensus Estimate of $6 million [7] Expense Overview - Research and development (R&D) expenses were $3 million, down 25% year-over-year [7] - Selling, general and administrative (SG&A) expenses totaled $40.7 million, up 43% from $28.4 million in the previous year, primarily due to the launch of Agamree [8] Financial Guidance - Catalyst expects total revenues for 2024 to be between $455 million and $475 million, with Firdapse revenues projected at $295 million to $310 million and Fycompa revenues between $130 million and $135 million [9][10] - The revenue guidance for Agamree has been increased to $35 million to $40 million from the previous range of $25 million to $30 million [10] Market Performance - Catalyst shares have increased by approximately 8.3% since the last earnings report, outperforming the S&P 500 [1] - The consensus estimate for Catalyst has shifted upward by 5.14% in the past month, indicating positive investor sentiment [11] Industry Context - Catalyst operates within the Zacks Medical - Drugs industry, where Corcept Therapeutics reported revenues of $163.8 million, a year-over-year increase of 39.1% [14]