CPRX - Why Catalyst Pharmaceuticals Stock Jumped Today
Shares of Catalyst Pharmaceuticals (NASDAQ: CPRX) were jumping 13.7% higher as of 3:01 p.m. EST on Monday. Investors reacted positively after Catalyst provided a corporate update earlier in the day that included a sneak peek at full-year 2019 net revenue for lead drug Firdapse and guidance for 2020.
Catalyst estimates that full-year 2019 net revenue for Firdapse will be around $102 million, with fourth-quarter net revenue of around $30 million. Catalyst also said that it expects to report a cash stockpile of around $95 million as of the end of 2019 with no funded debt. This puts the company in a position where it won't have to raise additional cash in the near term.
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