CPRX - Catalyst Pharmaceuticals Q1 earnings rise Y/Y; reaffirms FY22 revenue outlook

Catalyst Pharmaceuticals (NASDAQ:CPRX) Q1 non-GAAP EPS grew +63.64% Y/Y to $0.18 and the company reaffirmed its FY22 revenue outlook. Total revenues rose +42.66% to $43.03M Y/Y. The company said the increase reflected steady growth for its drug Firdapse, to treat pediatric patients with Lambert-Eaton myasthenic syndrome (LEMS). "I am proud of Catalyst’s solid progress in the first quarter of 2022, where we delivered record revenues, driven in part, by new patients converting to FIRDAPSE following the removal of Ruzurgi from the U. S. market in February 2022," said Catalyst Chairman and CEO Patrick McEnany. Earlier in the year, Catalyst received a favorable court judgement in a lawsuit against FDA over Jacobus Pharmaceutical's drug Ruzurgi's approval for LEMS. Catalyst had noted that the approval violated its exclusivity for Firdapse, which is approved for same use, under the Orphan Drug Act. Research and development expenses increased to $3.4M, compared to ~$3.01M in Q1 2021. Buyback Program: As of

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Catalyst Pharmaceuticals Q1 earnings rise Y/Y; reaffirms FY22 revenue outlook