Catalyst Pharmaceuticals(US:CPRX) ZACKS·2024-11-07 16:30Core Insights - Catalyst Pharmaceuticals (CPRX) reported adjusted earnings of 57 cents per share for Q3 2024, exceeding the Zacks Consensus Estimate of 49 cents and recovering from an adjusted loss of 24 cents in the same quarter last year [1] - Total revenues reached $128.7 million, reflecting a year-over-year growth of 25.3% and surpassing the Zacks Consensus Estimate of $123 million [1] Revenue Breakdown - The primary revenue source was Firdapse, which generated sales of $79.3 million, up 19.7% year over year, and exceeded the Zacks Consensus Estimate of $77.6 million [4] - Fycompa, acquired in 2023, generated net product revenues of $32.1 million, which was below the Zacks Consensus Estimate of $34.3 million and marked an 11.9% decline year over year [5] - Agamree, launched in March 2024, contributed $15 million in revenues, a 72% sequential increase, surpassing the Zacks Consensus Estimate of $11 million [8] Financial Guidance - Catalyst raised its 2024 total revenue guidance to a range of $475-$485 million from the previous $455-$475 million, driven by growth in Firdapse, Fycompa, and Agamree [10] - Firdapse revenue projections were adjusted to $300-$310 million, Fycompa remains at $130-$135 million, and Agamree is now expected to generate $40-$45 million [11] Cost Management - Research and development expenses were significantly reduced to $3.3 million, down 96.1% year over year, due to a one-time expense in the previous year [8] - Selling, general, and administrative expenses increased to $45.9 million, up 36.7% from the previous year, primarily due to the launch of Agamree and related marketing activities [9] Stock Performance - Year-to-date, CPRX shares have increased by 35.1%, contrasting with a 3.6% decline in the industry [6]