Catalyst Pharmaceuticals Inc (NASDAQ: CPRX) is having an incredibly strong start to the trading session this mroning, and for good reason. The company reported its financial results, beating expectations on all accounts. Today, we’ll talk about:
- The financial results;
- what we’re seeing from CPRX stock as a result; and
- what we’ll be watching for ahead.
Check out our most recent report on CPRX here.
CPRX Announces Financial Results
As mentioned above, Catalyst Pharmaceuticals is having a great day in the market after issuing its financial results. The results were provided via press release early this morning.
In the release, the company said that it generated a quarterly loss of $0.01 per share. That figure came in well ahead of the $0.13 loss per share that analysts were expecting to see. Moreover, the $0.01 per share loss shows strong growth on a year over year basis from the $0.06 per share loss reported in the same quarter last year.
The company also did incredibly well in terms of revenue. During the quarter, CPRX generated revenue in the amount of $12.45 million. In the same quarter last year, the company had zero revenue.
In a statement, Patrick J. McEnany, Chairman and CEO at CPRX, had the following to offer:
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. 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.
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.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Catalyst Pharmaceuticals, the news proved to be overwhelmingly positive.
After all, investors are making investments in order to generate growth. The company produced strong growth in revenue and earnings, beating expectations on both sides of the coin. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:42), CPRX is trading at $3.62 per share after a gain of $0.48 per share or 15.29% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CPRX. In particular, we’re interested in following the story surrounding the company’s continued work to expand sales of Firdapse and bring value to investors. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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