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Catalyst (CPRX) Beats on Q4 Earnings, Revenues Rise Y/Y
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Catalyst Pharmaceuticals, Inc. (CPRX - Free Report) reported earnings of 11 cents per share in the fourth quarter of 2020, beating the Zacks Consensus Estimate of 9 cents. The company reported earnings of 7 cents in the year-ago quarter.
The company’s revenues of $31 million also beat the Zacks Consensus Estimate of $30 million. Revenues came entirely from sales of Firdapse, the company’s first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (“LEMS”). Revenues in the year-ago quarter came in at $30.1 million.
Shares of Catalyst have rallied 18% in the year so far, compared with the industry’s increase of 1.9%.
Quarter in Detail
Research and development (R&D) expenses of $4.2 million declined from $6.3 million reported in the year-ago quarter.
Selling, general and administrative (SG&A) expenses totaled $13.4 million, up from $11.4 million reported in the year-ago quarter.
As of Dec 31, 2020, Catalyst had cash, cash equivalents and investments worth $140.3 million compared with $127.1 million as of Sep 30, 2020.
Full-Year Results
For 2020, Catalyst generated revenues of $119.1million, reflecting an increase of 16% year over year.
For the same period, the company reported earnings of 71 cents per share compared with the year-ago earnings of 30 cents per share.
Update on Firdapse
Apart from LEMS, Catalyst is working on developing Firdapse for other indications. The development of the long-acting formulation, Firdapse, remains on track. A large number of candidate formulations were prepared, and three of the most promising were evaluated in a pharmacokinetic study completed during the fourth quarter of 2020.
Meanwhile, 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.
Notably, in January 2021, Catalyst announced long-term portfolio expansion plans, including investing heavily in R&D, acquiring earlier-stage opportunities, and expanding its product portfolio beyond Firdapse.
Back then, the company stated that its MuSK-MG phase III study did not meet statistical significance on its endpoints. However, marked persistent clinical improvement was observed by patients and investigators during the initial dose-titration period of this study and in the previous proof-of-concept study. Catalyst plans to present the study hypotheses and a revised protocol to the FDA for discussions during the first half of 2021.
A potential approval of the drug for any of the given indications will further drive revenues for the company.
Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Catalent’s earnings estimates have been revised 10.1% upward for 2021 over the past 60 days. The stock has inched up 2.5% year to date.
Soleno Therapeutics’ loss per share estimates have narrowed 26.3% for 2021 over the past 60 days.
Zoetis’ earnings estimates have been revised 4.7% upward for 2021 over the past 60 days.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Catalyst (CPRX) Beats on Q4 Earnings, Revenues Rise Y/Y
Catalyst Pharmaceuticals, Inc. (CPRX - Free Report) reported earnings of 11 cents per share in the fourth quarter of 2020, beating the Zacks Consensus Estimate of 9 cents. The company reported earnings of 7 cents in the year-ago quarter.
The company’s revenues of $31 million also beat the Zacks Consensus Estimate of $30 million. Revenues came entirely from sales of Firdapse, the company’s first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (“LEMS”). Revenues in the year-ago quarter came in at $30.1 million.
Shares of Catalyst have rallied 18% in the year so far, compared with the industry’s increase of 1.9%.
Quarter in Detail
Research and development (R&D) expenses of $4.2 million declined from $6.3 million reported in the year-ago quarter.
Selling, general and administrative (SG&A) expenses totaled $13.4 million, up from $11.4 million reported in the year-ago quarter.
As of Dec 31, 2020, Catalyst had cash, cash equivalents and investments worth $140.3 million compared with $127.1 million as of Sep 30, 2020.
Full-Year Results
For 2020, Catalyst generated revenues of $119.1million, reflecting an increase of 16% year over year.
For the same period, the company reported earnings of 71 cents per share compared with the year-ago earnings of 30 cents per share.
Update on Firdapse
Apart from LEMS, Catalyst is working on developing Firdapse for other indications. The development of the long-acting formulation, Firdapse, remains on track. A large number of candidate formulations were prepared, and three of the most promising were evaluated in a pharmacokinetic study completed during the fourth quarter of 2020.
Meanwhile, 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.
Notably, in January 2021, Catalyst announced long-term portfolio expansion plans, including investing heavily in R&D, acquiring earlier-stage opportunities, and expanding its product portfolio beyond Firdapse.
Back then, the company stated that its MuSK-MG phase III study did not meet statistical significance on its endpoints. However, marked persistent clinical improvement was observed by patients and investigators during the initial dose-titration period of this study and in the previous proof-of-concept study. Catalyst plans to present the study hypotheses and a revised protocol to the FDA for discussions during the first half of 2021.
A potential approval of the drug for any of the given indications will further drive revenues for the company.
Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Catalyst Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Catalyst Pharmaceuticals, Inc. Quote
Zacks Rank & Stocks to Consider
Catalyst currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the same sector include Catalent, Inc. (CTLT - Free Report) , Soleno Therapeutics, Inc. (SLNO - Free Report) and Zoetis Inc. (ZTS - Free Report) , all carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Catalent’s earnings estimates have been revised 10.1% upward for 2021 over the past 60 days. The stock has inched up 2.5% year to date.
Soleno Therapeutics’ loss per share estimates have narrowed 26.3% for 2021 over the past 60 days.
Zoetis’ earnings estimates have been revised 4.7% upward for 2021 over the past 60 days.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>