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Catalyst Pharmaceuticals Reports Record Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
CPRXCatalyst Pharmaceuticals(CPRX) Newsfilter·2025-02-26 21:13

Core Insights - Catalyst Pharmaceuticals reported total revenues of 491.7millionforthefullyear2024,reflectingayear−over−yeargrowthof23.5491.7 million for the full year 2024, reflecting a year-over-year growth of 23.5% driven by strong commercial performance [1][11][12] - The company expects total revenues for 2025 to be between 545 million and 565million,indicatingconfidenceincontinuedgrowthmomentum[1][22]FinancialPerformance−Fullyear2024productrevenue,netwas565 million, indicating confidence in continued growth momentum [1][22] Financial Performance - Full year 2024 product revenue, net was 489.3 million, a 23.4% increase from 396.5millionin2023[3][12]−Q42024netproductrevenuewas396.5 million in 2023 [3][12] - Q4 2024 net product revenue was 141.8 million, representing a 28.3% increase compared to Q4 2023 [1][11] - GAAP net income for 2024 was 163.9million,asignificantincreaseof129.5163.9 million, a significant increase of 129.5% from 71.4 million in 2023 [3][17] - Non-GAAP net income for 2024 was 276.3million,up95.1276.3 million, up 95.1% from 141.6 million in 2023 [3][18] Product Performance - FIRDAPSE product revenue for 2024 was 306.0million,an18.4306.0 million, an 18.4% increase year-over-year [1][9] - AGAMREE product revenue for 2024 was 46.0 million, reflecting a successful commercial launch [1][9] - FYCOMPA product revenue for 2024 was 137.3million,showingaslightdeclineof0.6137.3 million, showing a slight decline of 0.6% compared to 2023 [3][9] Strategic Developments - Catalyst successfully launched AGAMREE in the U.S. on March 13, 2024, for the treatment of Duchenne muscular dystrophy [9][10] - The company received FDA approval for an increased maximum daily dose of FIRDAPSE to 100 mg on May 30, 2024 [9] - Catalyst entered into a settlement agreement with Teva Pharmaceuticals regarding FIRDAPSE patent litigation, preventing Teva from marketing a generic version until February 25, 2035 [9][10] Future Outlook - For 2025, FIRDAPSE's product revenue is expected to range between 355 million and 360million,whileAGAMREE′srevenueisanticipatedtobebetween360 million, while AGAMREE's revenue is anticipated to be between 100 million and 110million[22][24]−FYCOMPA′sproductrevenueisforecastedtobebetween110 million [22][24] - FYCOMPA's product revenue is forecasted to be between 90 million and 95million,influencedbytheanticipatedlossofpatentexclusivity[25]−Researchanddevelopmentexpensesfor2025areexpectedtobebetween95 million, influenced by the anticipated loss of patent exclusivity [25] - Research and development expenses for 2025 are expected to be between 15.0 million and $20.0 million, depending on ongoing studies and potential acquisitions [27]