Catalyst Pharmaceuticals (NASDAQ: CPRX) reported Q3 EPS of $0.42, $0.32 better than the analyst estimate of $0.10. Revenue for the quarter came in at $29.2 million versus the consensus estimate of $31.49 million.

• Excluding expenses related to stock-based compensation of $1.5 million, non-GAAP1 net income for the third quarter of 2020 was $44.8 million, or $0.43 per basic and $0.42 per diluted share.
• This compares to non-GAAP1 net income of $14.4 million, or $0.14 per basic share and $0.13 per diluted share, excluding stock-based compensation expense of $817 thousand, for the third quarter of 2019.
• Excluding expenses related to stock-based compensation of $4.8 million, non-GAAP1 net income for the nine months ended September 30, 2020 was $68.3 million, or $0.66 per basic share and $0.64 per diluted share.
• This compares to a non-GAAP1 net income of $26.6 million, or $0.26 per basic and $0.25 per diluted share, excluding stock-based compensation expense of $2.7 million, for the nine months ended September 30, 2019.

“I am pleased to report on a very productive third quarter and on our continued commercial execution under challenging conditions and remain confident that we will continue to see more success as physicians and other providers adapt to this virtual working environment. Also, we are very encouraged by the number of new LEMS patient starts that were initiated over the past 2 months and are hopeful that this is the beginning of a trend,” said Patrick J. McEnany, Chairman and Chief Executive Officer of Catalyst Pharmaceuticals. Mr. McEnany added, “Additionally, during the third quarter we were excited to announce the issuance of our U.S. patent for Firdapse®, which we believe significantly fortifies our intellectual property position. We continue to work diligently alongside partners to protect Firdapse® and to ensure that we are able to advance and make available therapeutics for patients suffering from rare neurological conditions.”

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