CPRX Q4 Earnings Beat, Firdapse Sales Boost Revenues, Stock Up

Catalyst Pharmaceuticals CPRX reported adjusted earnings of 70 cents per share for the fourth quarter of 2024, beating the Zacks Consensus Estimate of 52 cents. The company recorded adjusted earnings of 53 cents in the year-ago quarter.See the Zacks Earnings Calendar to stay ahead of market-making news. Total revenues, the majority of which comprised product revenues, amounted to $141.8 million in the reported quarter, representing growth of 28% year over year. The recorded figure also surpassed the Zacks Consensus Estimate of $132.7 million.Catalyst’s top line primarily comprised revenues from the sale of Firdapse, the first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and epilepsy drug, Fycompa (perampanel) CIII. Revenues generated from the sale of the newly launched muscle disease drug, Agamree (vamorolone), also contributed to the top line.The stock gained 5.9% in the after-market hours on Feb. 27 as investors were impressed by the better-than-expected fourth-quarter results.CPRX’s Q4 Results in DetailFirdapse generated sales worth $82.5 million in the reported quarter, up 18% year over year. The reported figure beat the Zacks Consensus Estimate of $82 million and our estimate of $81.6 million, driven by the organic sales growth of Firdapse. The drug has been witnessing strong demand, increasing prescription rates from LEMS patients and continued diagnosis of new LEMS patients.In 2023, CPRX acquired the U.S. rights for Fycompa (perampanel) CIII from Eisai Co., Ltd. This acquisition diversified the company’s portfolio by adding a commercial-stage epilepsy asset. Catalyst started recording sales of Fycompa in the first quarter of 2023.Fycompa generated net product revenues of $38.2 million in fourth-quarter 2024, which surpassed the Zacks Consensus Estimate of $32.8 million as well as our model estimate of $32.2 million. Fycompa sales recorded a year-over-year decline of 3%.  In the past three months, shares of Catalyst have lost 7.9% compared with the industry’s 8% decline.Image Source: Zacks Investment ResearchIn the third quarter of 2023, CPRX acquired exclusive rights to manufacture and supply Agamree from Santhera Pharmaceuticals through a licensing agreement. In late 2023, the FDA approved Agamree for treating Duchenne Muscular Dystrophy in patients aged two years and older, which gave Catalyst a third approved product. The drug was commercially launched in the United States in the middle of March 2024.In the third full quarter of commercialization since launch, Agamree generated revenues worth $21.1 million, up 41% sequentially. The reported figure beat the Zacks Consensus Estimate of $17.8 million and our estimate of $16.1 million.Research and development (R&D) expenses were $3.8 million in the reported quarter, up 93% year over year.Selling, general and administrative (SG&A) expenses totaled $44.2 million, up 5% from the year-ago quarter. This uptick in costs is primarily due to the launch of Agamree and the cumulative commercial and marketing activities to support three commercial products compared with two in 2023.As of Dec. 31, 2024, Catalyst had cash, cash equivalents and investments worth $517.6 million compared with $442.3 million as of Sept. 30, 2024.CPRX’s Full-Year ResultsIn 2024, Catalyst recorded total revenues of $491.7 million, up 23% year over year, beating the Zacks Consensus Estimate of $482.6 million, driven by higher product sales.The company recorded earnings per share of $2.21 in 2024, which also surpassed the Zacks Consensus Estimate of $2.04. In 2023, CPRX recorded an earnings per share of $1.25.CPRX’s 2025 Financial GuidanceIn 2025, Catalyst expects total revenues between $545 million and $565 million, reflecting continued growth in product revenues from Firdapse and Agamree.Firdapse revenues are expected between $355 million and $360 million. Agamree revenues are anticipated between $100 million and $110 million in the current year. Per management, the guidance reflects its continued market adoption and commercial momentum.Fycompa revenues are projected between $90 million and $95 million, driven by market demand ahead of expected generic competition following patent expirations in May and December 2025.Catalyst expects its R&D expenses between $15 million and $20 million in 2025. However, management stated that the expenses may shoot up in the event of an acquisition by the company. Although no numbers have been provided, CPRX expects its SG&A expenses to rise in 2025. The company further anticipates that its effective tax rate will be relatively consistent for 2025 compared with 2024 and 2023.Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise Catalyst Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Catalyst Pharmaceuticals, Inc. QuoteCPRX’s Zacks Rank & Stocks to ConsiderCatalyst currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks from the sector are Gilead Sciences GILD, BioMarin Pharmaceutical BMRN and Amicus Therapeutics FOLD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.In the past 30 days, Gilead Sciences’ earnings estimates for 2025 have improved from $7.56 to $7.81 per share. During the same timeframe, the earnings per share for 2026 have improved from $7.82 to $8.14. In the past three months, shares of Gilead Sciences have gained 19.5%.GILD’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.47%.In the past 30 days, estimates for BioMarin Pharmaceutical’s 2025 earnings per share have increased from $4.01 to $4.19. Estimates for 2026 earnings per share have decreased from $5.21 to $5.20 during the same timeframe. In the past three months, BioMarin Pharmaceutical shares have gained 5.2%.BMRN’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.36%.In the past 30 days, the estimate for Amicus Therapeutics’ 2025 earnings per share has remained constant at 43 cents. The estimate for 2026 earnings per share has deteriorated from 72 cents to 71 cents. In the past three months, shares of Amicus Therapeutics have lost 9.4%.FOLD’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 45.42%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report Gilead Sciences, Inc. (GILD): Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD): Free Stock Analysis Report Catalyst Pharmaceuticals, Inc. (CPRX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks