Catalyst Pharmaceuticals Inc (CPRX) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ...

In This Article:

  • Total Revenue: $128.7 million, a 25.3% increase year over year.

  • Net Product Revenue: $126.4 million, a 23.2% increase from Q3 2023.

  • Ferds Revenue: $79.3 million, a 19.7% increase year over year.

  • A Gaming Revenue: $15.0 million, reflecting strong commercial launch.

  • Pampa Revenue: $32.1 million, an 11.9% decrease from the prior year period.

  • Net Income: $43.9 million or 35 per diluted share, compared to a net loss of $38.8 million or 29 per diluted share in Q3 2023.

  • Cash and Cash Equivalents: $442.3 million as of the end of Q3 2024.

  • Updated Full Year Revenue Guidance: $475 million to $485 million.

  • R&D Expenses: $3.3 million, down from $83.7 million in Q3 2023.

  • SG&A Expenses: $45.9 million, up from $33.6 million in Q3 2023.

Release Date: November 07, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) reported a 25.3% year-over-year increase in total revenues for Q3 2024, reaching $128.7 million.

  • The company updated its full-year 2024 total revenue guidance to between $475 million and $485 million, reflecting strong performance.

  • Ferds continues to deliver outstanding net revenues and growth, with a 19.7% increase year-over-year.

  • A gaming's market success led to an increase in full-year 2024 net revenue projections to between $40 million and $45 million.

  • Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) is making strides in global expansion, with recent regulatory approval in Japan and ongoing efforts in Canada.

Negative Points

  • Capa experienced a 12% decrease in net revenues compared to Q3 2023 due to adjustments in gross to net.

  • Increased gross to net deductions for Pampa were driven by higher costs tied to arrangements with distributors and government agencies.

  • The company faces competitive challenges in the market, particularly with the launch of a gaming into an active competitive environment.

  • Research and development expenses are expected to be significantly lower than previously provided guidance, indicating potential delays in R&D initiatives.

  • The effective tax rate is likely to fluctuate in future periods, affecting financial predictability.

Q & A Highlights

Q: Now that FAPS will be commercially available in Japan this year, what are you looking for in a partner to commercialize in other regions such as China? Also, what drove the gross-to-net adjustment for BIPA, and how should we expect that to trend going forward? A: We expect FAPS to be launched in Japan at the end of the year and are evaluating other territories globally. Regarding China, we continue to explore opportunities and will update as they become clear. For BIPA, fees reflected in gross-to-net are higher with distributors and government agencies compared to last year. This is likely to remain consistent as long as we have exclusivity.

Waiting for permission
Allow microphone access to enable voice search

Try again.