Catalyst Pharmaceuticals (NASDAQ: CPRX) reported Q1 EPS of ($0.01), $0.12 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $12.4 million versus the consensus estimate of $1.6 million.

• Total net revenue in the first quarter 2019 was $12.4 million.
• Selling, general and administrative expenses for the first quarter of 2019 totaled $8.4 million as compared to $2.7 million in the first quarter of 2018. The increase is primarily attributed to commercial launch expenses, as well as the patient services programs to support Firdapse.
• Research and development expenses for the first quarter of 2019 were $3.3 million in line with the first quarter of 2018.
• Ended March 31, 2019 with $50.6 million in cash and investments and no funded-debt.
• Reported a net loss of $645,000 or $(0.01) per basic and diluted share, compared with a net loss of $5.7 million, or $(0.06) per basic and diluted share, for the first quarter of 2018.

“The first quarter of this year was very critical for us, as we became a fully-integrated biopharmaceutical company with the commercial launch of Firdapse,” said Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst Pharmaceuticals. “We are pleased that the Firdapse launch is off to an excellent start and while it is still early, with much work to be done, it is especially gratifying to see the number of patients that were previously naive to any form of amifampridine that are now being effectively treated with Firdapse. We continue to be motivated by the very positive response that we are receiving from patients and healthcare providers. Lastly, we continue to make progress in clinical development of our robust pipeline of other potential indications for Firdapse.”

Mr. McEnany continued, “We were extremely surprised with the FDA’s decision to approve Jacobus Pharmaceuticals’ NDA for amifampridine in the treatment of LEMS in a pediatric population between the ages of 6 and less than 17. According to a Jacobus spokesperson there are less than 15 pediatric LEMS patients in the U.S. We are currently assessing our options and we expect to have more to say in that regard in the coming days.”

For earnings history and earnings-related data on Catalyst Pharmaceuticals (CPRX) click here.