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Catalyst Pharmaceuticals posted Q1 adjusted EPS of 79 cents, topping estimates of 64 cents.
CPRX saw Firdapse sales rise 18% to $98.86M and Agamree revenues jump 67% year over year to $36.7M in Q1.
Catalyst Pharmaceuticals is set to be acquired by Angelini Pharma in an all-cash deal valued at $4.1B.
Catalyst Pharmaceuticals (CPRX - Free Report) reported adjusted earnings of 79 cents per share for the first quarter of 2026, beating the Zacks Consensus Estimate of 64 cents. The company had recorded adjusted earnings of 68 cents in the year-ago quarter.
Total revenues, the majority of which comprised product revenues, amounted to $149.4 million in the reported quarter, representing growth of 6% year over year. The recorded figure also surpassed the Zacks Consensus Estimate of $147 million.
Catalyst Pharmaceuticals’ top line primarily comprised revenues from the sale of Firdapse, the first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and the newer muscle disease drug, Agamree (vamorolone). Revenues generated from the sale of CPRX’s epilepsy drug Fycompa (perampanel) CIII also contributed to the top line.
CPRX’s Q1 Results in Detail
Firdapse generated sales worth $98.86 million in the reported quarter, up 18% year over year, driven by organic sales growth. The reported figure marginally missed the Zacks Consensus Estimate of $98.9 million. The drug has been witnessing strong demand, increasing prescription rates from LEMS patients and continued diagnosis of new LEMS patients.
In 2023, Catalyst Pharmaceuticals acquired exclusive rights to manufacture and supply Agamree from Santhera Pharmaceuticals through a licensing agreement. In late 2023, the FDA approved Agamree for treating Duchenne Muscular Dystrophy in patients aged two years and older, which gave the company a third approved product. The drug was commercially launched in the United States in the middle of March 2024.
In the reported quarter, Agamree generated revenues worth $36.7 million, up 67% year over year. The reported figure beat the Zacks Consensus Estimate of $35 million.
Year to date, Catalyst Pharmaceuticals shares have gained 33.5% against the industry’s 4.7% decline.
Image Source: Zacks Investment Research
In 2023, Catalyst Pharmaceuticals acquired the U.S. rights for Fycompa (perampanel) CIII from Eisai Co., Ltd. This acquisition diversified the company’s portfolio by adding a commercial-stage epilepsy asset. Catalyst Pharmaceuticals started recording sales of Fycompa in 2023.
Fycompa generated net product revenues of $13.8 million, down 61% year over year, as tablet generics began hitting the market in May 2025 following the expiration of its first U.S. patent, with another slated to expire in July 2026. Catalyst Pharmaceuticals also lost exclusivity for the oral suspension version of Fycompa in December 2025. As a result, revenues from this product are expected to further decline in future periods as additional generic competition enters the market. The reported figure beat the Zacks Consensus Estimate of $13.1 million.
Research and development expenses were $2.7 million in the reported quarter, down 32% year over year. Selling, general and administrative expenses totaled $49.3 million, up 5% year over year.
As of March 31, 2026, Catalyst Pharmaceuticals had cash, cash equivalents and investments worth $755.9 million compared with $709.2 million as of Dec. 31, 2025.
CPRX’s Key Updates
Last week, Catalyst Pharmaceuticals announced settling patent litigation related to Firdapse with Hetero Labs and affiliated companies. The dispute stemmed from Hetero’s abbreviated new drug application seeking approval to market a generic version of the 10 mg tablets before the expiration of relevant patents. Under the settlement, Hetero has received a license to launch a generic version of Firdapse in the United States beginning in January 2035, subject to FDA approval and certain customary exceptions.
The agreement also ends all ongoing patent litigation between CPRX, its licensor SERB and Hetero in the U.S. District Court for the District of New Jersey ahead of a scheduled May 2026 trial. It had previously reached similar settlements with Lupin, Teva and Inventia Healthcare regarding generic Firdapse applications. With the Hetero agreement, the company said all pending patent litigation tied to Firdapse has now been resolved. The confidential settlement will be submitted to U.S. antitrust authorities for regulatory review, as required by law.
Catalyst Pharmaceuticals is set to be acquired by Angelini Pharma in an all-cash deal valued at about $4.1 billion (€3.5 billion), marking the Italian drugmaker’s entry into the U.S. market. Under the agreement, Catalyst shareholders will receive $31.50 per share in cash, representing a 28% premium to its 30-day volume-weighted average price. The boards of both companies unanimously approved the transaction, which is expected to close in the third quarter of 2026, subject to shareholder and regulatory approvals.
The acquisition strengthens Angelini Pharma’s focus on brain health and rare neurological diseases by adding Catalyst’s portfolio of approved therapies, including Firdapse for LEMS, Agamree for Duchenne muscular dystrophy and Fycompa for epilepsy. Angelini Pharma plans to combine CPRX’s U.S. commercial infrastructure with its own neuroscience expertise to expand its rare disease platform and broaden its North American presence while maintaining its manufacturing and research footprint in Italy.
Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 7.6% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 8.2% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Immunocore’s 2026 loss per share have narrowed from 97 cents to 50 cents. On the other hand, its 2026 EPS is currently pegged at 11 cents. IMCR shares have lost 16.9% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 46.66%.
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Catalyst Pharmaceuticals Q1 Earnings Beat, Firdapse Revenues Rise Y/Y
Key Takeaways
Catalyst Pharmaceuticals (CPRX - Free Report) reported adjusted earnings of 79 cents per share for the first quarter of 2026, beating the Zacks Consensus Estimate of 64 cents. The company had recorded adjusted earnings of 68 cents in the year-ago quarter.
Total revenues, the majority of which comprised product revenues, amounted to $149.4 million in the reported quarter, representing growth of 6% year over year. The recorded figure also surpassed the Zacks Consensus Estimate of $147 million.
Catalyst Pharmaceuticals’ top line primarily comprised revenues from the sale of Firdapse, the first approved drug for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and the newer muscle disease drug, Agamree (vamorolone). Revenues generated from the sale of CPRX’s epilepsy drug Fycompa (perampanel) CIII also contributed to the top line.
CPRX’s Q1 Results in Detail
Firdapse generated sales worth $98.86 million in the reported quarter, up 18% year over year, driven by organic sales growth. The reported figure marginally missed the Zacks Consensus Estimate of $98.9 million. The drug has been witnessing strong demand, increasing prescription rates from LEMS patients and continued diagnosis of new LEMS patients.
In 2023, Catalyst Pharmaceuticals acquired exclusive rights to manufacture and supply Agamree from Santhera Pharmaceuticals through a licensing agreement. In late 2023, the FDA approved Agamree for treating Duchenne Muscular Dystrophy in patients aged two years and older, which gave the company a third approved product. The drug was commercially launched in the United States in the middle of March 2024.
In the reported quarter, Agamree generated revenues worth $36.7 million, up 67% year over year. The reported figure beat the Zacks Consensus Estimate of $35 million.
Year to date, Catalyst Pharmaceuticals shares have gained 33.5% against the industry’s 4.7% decline.
Image Source: Zacks Investment Research
In 2023, Catalyst Pharmaceuticals acquired the U.S. rights for Fycompa (perampanel) CIII from Eisai Co., Ltd. This acquisition diversified the company’s portfolio by adding a commercial-stage epilepsy asset. Catalyst Pharmaceuticals started recording sales of Fycompa in 2023.
Fycompa generated net product revenues of $13.8 million, down 61% year over year, as tablet generics began hitting the market in May 2025 following the expiration of its first U.S. patent, with another slated to expire in July 2026. Catalyst Pharmaceuticals also lost exclusivity for the oral suspension version of Fycompa in December 2025. As a result, revenues from this product are expected to further decline in future periods as additional generic competition enters the market. The reported figure beat the Zacks Consensus Estimate of $13.1 million.
Research and development expenses were $2.7 million in the reported quarter, down 32% year over year. Selling, general and administrative expenses totaled $49.3 million, up 5% year over year.
As of March 31, 2026, Catalyst Pharmaceuticals had cash, cash equivalents and investments worth $755.9 million compared with $709.2 million as of Dec. 31, 2025.
CPRX’s Key Updates
Last week, Catalyst Pharmaceuticals announced settling patent litigation related to Firdapse with Hetero Labs and affiliated companies. The dispute stemmed from Hetero’s abbreviated new drug application seeking approval to market a generic version of the 10 mg tablets before the expiration of relevant patents. Under the settlement, Hetero has received a license to launch a generic version of Firdapse in the United States beginning in January 2035, subject to FDA approval and certain customary exceptions.
The agreement also ends all ongoing patent litigation between CPRX, its licensor SERB and Hetero in the U.S. District Court for the District of New Jersey ahead of a scheduled May 2026 trial. It had previously reached similar settlements with Lupin, Teva and Inventia Healthcare regarding generic Firdapse applications. With the Hetero agreement, the company said all pending patent litigation tied to Firdapse has now been resolved. The confidential settlement will be submitted to U.S. antitrust authorities for regulatory review, as required by law.
Catalyst Pharmaceuticals is set to be acquired by Angelini Pharma in an all-cash deal valued at about $4.1 billion (€3.5 billion), marking the Italian drugmaker’s entry into the U.S. market. Under the agreement, Catalyst shareholders will receive $31.50 per share in cash, representing a 28% premium to its 30-day volume-weighted average price. The boards of both companies unanimously approved the transaction, which is expected to close in the third quarter of 2026, subject to shareholder and regulatory approvals.
The acquisition strengthens Angelini Pharma’s focus on brain health and rare neurological diseases by adding Catalyst’s portfolio of approved therapies, including Firdapse for LEMS, Agamree for Duchenne muscular dystrophy and Fycompa for epilepsy. Angelini Pharma plans to combine CPRX’s U.S. commercial infrastructure with its own neuroscience expertise to expand its rare disease platform and broaden its North American presence while maintaining its manufacturing and research footprint in Italy.
Catalyst Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Catalyst Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Catalyst Pharmaceuticals, Inc. Quote
CPRX’s Zacks Rank & Other Stocks to Consider
Catalyst Pharmaceuticals currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are Amarin Corporation (AMRN - Free Report) , Indivior Pharmaceuticals (INDV - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Amarin’s 2026 loss per share have narrowed from $7.01 to $6.36. Over the same period, loss per share estimates for 2027 have also narrowed from $5.50 to $4.64. AMRN shares have risen 7.6% year to date.
Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.35. Over the same period, EPS estimates for 2027 have risen to $3.69 from $3.46. INDV shares have risen 8.2% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Immunocore’s 2026 loss per share have narrowed from 97 cents to 50 cents. On the other hand, its 2026 EPS is currently pegged at 11 cents. IMCR shares have lost 16.9% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 46.66%.