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Sep 30
Catalyst Pharmaceuticals Q3 2025 Earnings Report
Catalyst Pharmaceuticals reported strong financial results for the third quarter of 2025, driven by continued growth in FIRDAPSE and AGAMREE, and better-than-expected performance from FYCOMPA.
Key Takeaways
Catalyst Pharmaceuticals achieved total revenues of $148.4 million in Q3 2025, a 17.4% increase year-over-year, primarily due to robust sales of FIRDAPSE and AGAMREE. The company also raised its full-year 2025 total revenue guidance, reflecting confidence in its growth trajectory.
Total revenues for Q3 2025 reached $148.4 million, marking a 17.4% increase compared to Q3 2024.
FIRDAPSE net product revenue hit a record $92.2 million, up 16.2% year-over-year, driven by new patients and enhanced dosing.
AGAMREE net product revenue was $32.4 million, demonstrating strong uptake and a 115.2% increase from Q3 2024.
The company raised its full-year 2025 total revenue guidance to between $565 million and $585 million.
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 is raising its full-year 2025 total revenue guidance, reflecting strong performance and confidence in its product portfolio. The company also announced a share repurchase program, signaling a positive long-term outlook.
Positive Outlook
- Raising full-year 2025 total revenue guidance to between $565 million and $585 million.
- Raising 2025 net product revenue guidance for AGAMREE to between $105 million and $115 million.
- Raising 2025 net product revenue guidance for FYCOMPA to between $100 million and $110 million.
- Reaffirming full-year 2025 net product revenue guidance for FIRDAPSE to between $355 million and $360 million.
- Approved a share repurchase program of up to $200 million, reflecting confidence in long-term financial outlook.
Challenges Ahead
- Revenues for FYCOMPA are forecasted to decline in future periods as additional generic competition enters the market.
- There can be no assurance as to the outcome of the pending patent case against Hetero USA, Inc. for FIRDAPSE.
- The potential impairment of the Company's intangible asset relating to its acquisition of FYCOMPA if revenues from sales of this product continue to decline.
- Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from forecasted results.
- No agreements for strategic acquisition targets have been entered into in 2025 despite evaluating over 100 prospective targets.