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Mar 31
Catalyst Pharmaceuticals Q1 2025 Earnings Report
Catalyst Pharmaceuticals reported record first quarter 2025 financial results.
Key Takeaways
Catalyst Pharmaceuticals delivered record first quarter 2025 total revenues of $141.4 million, a 43.6% year-over-year increase, driven by strong performance from FIRDAPSE and AGAMREE. The company ended the quarter with a strong balance sheet, including $580.7 million in cash and cash equivalents and no debt.
Total revenues for Q1 2025 were a record $141.4 million, a 43.6% increase year-over-year.
GAAP net income for Q1 2025 was $56.7 million, a 143.8% increase year-over-year.
Non-GAAP net income for Q1 2025 was $86.6 million, an 85.2% increase year-over-year.
Cash and cash equivalents totaled $580.7 million as of March 31, 2025.
Catalyst Pharmaceuticals
Catalyst Pharmaceuticals
Catalyst Pharmaceuticals Revenue by Segment
Revenue by Segment
FIRDAPSE Product Revenue, Net Revenue
CapyFin.comAGAMREE Product Revenue, Net Revenue
CapyFin.comFYCOMPA Product Revenue, Net Revenue
CapyFin.com Forward Guidance
Catalyst Pharmaceuticals reaffirmed its full-year 2025 revenue outlook, expecting total revenues between $545 million and $565 million. This includes projected FIRDAPSE revenue of $355 million to $360 million, AGAMREE revenue of $100 million to $110 million, and FYCOMPA revenue of $90 million to $95 million.
Positive Outlook
- Reaffirmed full-year 2025 total revenue guidance, indicating confidence in continued growth.
- Positive outlook for FIRDAPSE and AGAMREE revenue in 2025.
- Advancement of the SUMMIT Study for AGAMREE to provide long-term real-world evidence.
- FIRDAPSE launched in Japan, expanding its global footprint.
- Settlement agreement reached with Teva regarding FIRDAPSE patent litigation, providing market protection until at least February 2035.
Challenges Ahead
- Anticipated generic competition for FYCOMPA in the second half of 2025 is expected to impact revenue.
- Two remaining ANDA litigations regarding FIRDAPSE patents are ongoing.
- Royalties for FYCOMPA will commence following the loss of market exclusivity.
- Increased royalties and milestone obligations related to AGAMREE if full-year product revenue exceeds $100 million.
- SG&A expenses are expected to increase modestly over the remainder of the year.