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Jun 30
Catalyst Pharmaceuticals Q2 2025 Earnings Report
Catalyst Pharmaceuticals reported record financial results for the second quarter and first half of 2025, driven by strong product revenue growth across its portfolio.
Key Takeaways
Catalyst Pharmaceuticals achieved record total revenues in Q2 2025, reaching $146.6 million, a 19.4% increase year-over-year. This growth was primarily fueled by strong performances from FIRDAPSE and AGAMREE, with AGAMREE showing exceptional triple-digit growth. The company also maintained a strong cash position with $652.8 million and no funded debt.
Record Q2 2025 total revenues of $146.6 million, up 19.4% year-over-year.
AGAMREE net product revenue surged by 212.9% year-over-year to $27.4 million, driven by accelerating physician adoption.
FIRDAPSE net product revenue increased by 9.7% year-over-year to $84.8 million, despite a one-time timing anomaly.
Maintained a strong financial position with $652.8 million in cash and cash equivalents and no funded debt.
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 total revenue guidance, expecting broad-based growth and sustained demand, despite anticipated impacts from generic competition for FYCOMPA.
Positive Outlook
- Reaffirmed full-year 2025 total revenue guidance of $545 million to $565 million.
- Guidance reflects broad-based growth and sustained demand across the portfolio.
- Company is well-positioned to achieve 2025 guidance due to portfolio momentum and disciplined execution.
- Continued confidence in delivering value for patients, providers, and stakeholders.
- Strategic realignment of commercial teams for FIRDAPSE and AGAMREE expected to drive scalable growth.
Challenges Ahead
- FYCOMPA net product revenue experienced a slight decrease year-over-year due to generic entry.
- Generic competition for FYCOMPA tablets is expected to impact net revenue going forward.
- Oral suspension exclusivity for FYCOMPA remains only until mid-December 2025.
- Royalty percentages and sales-based milestone obligations related to AGAMREE will increase as net sales grow.
- FYCOMPA royalties to the licensor will commence after the loss of patent protection, with tiered rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income