Catalyst Pharmaceuticals, Inc.
CPRX
reported adjusted earnings of 11 cents per share in the first quarter of 2021, beating the Zacks Consensus Estimate of 7 cents. The company reported earnings of 12 cents in the year-ago quarter.
However, the company’s total revenues of $30.2 million missed the Zacks Consensus Estimate of $32 million. Revenues came entirely from sales of Firdapse (amifampridine) – the company’s first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (“LEMS”). Revenues in the year-ago quarter came in at $29.1 million.
Shares of Catalyst were down 4.2% in after-hours trading following the announcement of the news on Monday. However, the stock has rallied 44.3% in the year so far, against the
industry’s
decrease of 11.6%.
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Quarter in Detail
Research and development (R&D) expenses of $3 million declined from $4.2 million reported in the year-ago quarter.
Selling, general and administrative (SG&A) expenses totaled $12.7 million, up from $10.1 million reported in the year-ago quarter.
As of Mar 31, 2021, Catalyst had cash, cash equivalents and investments worth $143.3 million compared with $140.3 million as of Dec 31, 2020.
Update on Firdapse
Apart from LEMS, Catalyst is working on developing Firdapse for other indications. A proof-of-concept study evaluating Firdapse as a treatment for hereditary neuropathy with liability to pressure palsies is scheduled to start in the third quarter of 2021.
Firdapse is currently being evaluated in various studies for the treatment of MuSK-MG and myasthenia gravis. Development of the long-acting formulation, Firdapse, also remains on track. The company remains focused on the expansion of commercialization of Firdapse in the United States.
A potential approval of the drug for any of the given indications will further drive revenues for the company.
Meanwhile, Firdapse received an Orphan Drug designation for the treatment of LEMS in Japan. Catalyst is planning to obtain marketing authorization for the drug in the country.
Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Catalyst Pharmaceuticals, Inc. price-consensus-eps-surprise-chart
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Catalyst Pharmaceuticals, Inc. Quote
Zacks Rank and Stocks to Consider
Catalyst currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the biotech sector include
ASLAN Pharmaceuticals Limited
ASLN
,
Adaptive Biotechnologies Corporation
ADPT
and
Milestone Pharmaceuticals Inc.
MIST
, all carrying a Zacks Rank #2 (Buy) at present. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
ASLAN Pharmaceuticals’ loss per share estimates have narrowed 12.5% for 2021 and 23.3% for 2022 over the past 60 days. The stock has surged 54.6% year to date.
Adaptive Biotechnologies’ loss per share estimates have narrowed 7.8% for 2021 and 1.5% for 2022 over the past 60 days.
Milestone Pharmaceuticals’ loss per share estimates have narrowed 20.3% for 2021 and 16.1% for 2022 over the past 60 days.
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