Catalyst Pharmaceuticals Reports Record Second Quarter and First Half 2025 Financial Results; Provides Business Update

Core Insights - Catalyst Pharmaceuticals reported record financial results for Q2 and the first half of 2025, with total revenues of $146.6 million for Q2, reflecting a 19.4% year-over-year increase, and $288.0 million for the first half, a 30.2% increase over the prior year [1][6][8] - The company reaffirmed its full-year 2025 revenue guidance of $545 million to $565 million, indicating broad-based growth and sustained demand across its product portfolio [1][6] Financial Performance - Q2 2025 net product revenue reached $146.5 million, a 19.5% increase year-over-year, driven by strong demand across the portfolio [4][8] - FIRDAPSE net product revenue for Q2 2025 was $84.8 million, up 9.7% year-over-year, while the first half revenue was $168.6 million, a 16.9% increase [1][8] - AGAMREE achieved remarkable growth with Q2 2025 net product revenue of $27.4 million, a 212.9% increase year-over-year, and $49.4 million for the first half, a 398.0% increase [1][8] - FYCOMPA's Q2 2025 net product revenue was $34.3 million, reflecting a slight decrease of 6.0% year-over-year due to generic competition [1][8] Profitability Metrics - GAAP net income for Q2 2025 was $52.1 million, representing a 27.7% increase from $40.8 million in Q2 2024 [15] - Non-GAAP net income for Q2 2025 was $86.4 million, a 24.0% increase from $69.6 million in the same quarter of the previous year [16] - Operating income for Q2 2025 was $66.3 million, up 22.2% from $54.2 million in Q2 2024 [14] Cash Position - As of June 30, 2025, the company reported a strong cash position of $652.8 million with no funded debt [1][18] Strategic Developments - The National Comprehensive Cancer Network® updated guidelines to include VGCC antibody testing for cancer-associated Lambert-Eaton myasthenic syndrome (LEMS) and the use of FIRDAPSE in treatment, which is expected to enhance clinical awareness and diagnostic rates [8] - The company appointed Daniel J. Curran, MD, to its Board of Directors on August 4, 2025, and published its 2024 ESG Report on June 30, 2025 [8][17]