Catalyst Pharma Reveals Interim Q4 Earnings, Says Well Positioned For 2023

  • Catalyst Pharmaceuticals Inc CPRX provided preliminary 2022 fourth quarter and full-year total revenues estimates, a forecast of 2023 total revenue expectations, and a corporate update.
  • "2022 was an exceptional year for Catalyst, as we delivered record performance driven by consecutive quarterly revenue growth. The robust results capped an important year for our company, as we successfully executed our strategic initiatives across the business, adding further confidence in the long-term growth of the company," stated Patrick J. McEnany, Chairman and CEO of Catalyst. 
  • Related: Catalyst Pharma Shares Take A Hit As Teva Files For Generic Version Of Its Lead Product.
  • For Q4 FY22, revenues are estimated to be approximately $61 million, up 61% Y/Y, compared to the consensus of $56.84 million.
  • For FY22, the company expects sales of approximately $214 million, up 52% Y/Y, better than the consensus of $210.36 million.
  • Year-end 2022 cash and cash equivalents are expected to be approximately $298 million.
  • For FY23, total revenues are expected to be $375-$385 million, up 75% - 80% Y/Y, ahead of the consensus of $337.63 million.
  • Firdapse net revenues for 2023 are forecasted to be $245-$255 million, with Fycompa sales of $130 million for approximately 11 months of sales.
  • The company expects to complete the full integration of the FYCOMPA business unit by mid-year.
  • Price Action: CPRX shares are down 0.50% at $15.79 on the last check Tuesday.
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Posted In: BiotechEarningsNewsGuidanceHealth CareSmall CapGeneralBriefs
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