Catalyst Pharmaceuticals (CPRX) Misses Q4 EPS by 3c, Revenues Beat; Offers FY20 Revenues Outlook

Catalyst Pharmaceuticals (NASDAQ: CPRX) reported Q4 EPS of $0.07, $0.03 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $30 million versus the consensus estimate of $29.4 million.

Patrick J. McEnany, Catalyst’s Chairman and CEO, stated: "2019 was an outstanding year for Catalyst as we evolved into a commercial-stage pharmaceutical company and successfully launched Firdapse® (amifampridine) tablets 10 mg in the U.S. for the treatment of adult LEMS patients. I am very proud of our patient-centric team’s performance and it is inspiring to see how we are improving the lives of LEMS patients every day." Mr. McEnany continued: “Catalyst has exceeded all expectations for product revenues and the number of patients who are currently being treated with Firdapse. We remain dedicated to expanding our label for Firdapse to include other neuromuscular conditions, including MuSK-MG where we expect to report top-line data in the second quarter of this year.”

Mr. McEnany continued: “In the face of the coronavirus Covid-19 outbreak, we have been asked by patients, healthcare providers and investors about our ability to provide a continuous uninterrupted supply of Firdapse. Let me reassure you that we are well prepared and well-stocked for any contingencies. Our API (active pharmaceutical ingredients) and finished dosage form are sourced from U.S. manufacturers, which are some of the largest in the world. We also have a qualified second U.S. manufacturer of our finished dosage form, if ever required. Finally, as of today we have more than an adequate supply of Firdapse ready for shipment in the warehouse to meet patients' needs through the end of this year. We currently have a campaign underway that will within the next two weeks provide another six months of inventory beyond December. Our supply chain and safety stock are solid.”

GUIDANCE:

Catalyst Pharmaceuticals sees FY2020 revenue of $135-155 million, versus the consensus of $140 million.

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

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