Catalyst Pharmaceuticals' Q3 Loss Narrower than Expected
Catalyst Pharmaceuticals, Inc. CPRX reported a loss of 6 cents per share in the third-quarter 2015, flat as the year-ago figure but a penny narrower than the Zacks Consensus Estimate of a loss of 7 cents.
Catalyst Pharmaceutical Partners Inc. (CPRX) - Earnings Surprise | FindTheCompany
Being a development-stage company, Catalyst Pharma does not have any approved product in its portfolio yet and does not earn any revenues.
Research and development (R&D) expenses were $3 million, up 5.4% from the year-ago quarter. The company expects R&D expenses to increase in the fourth quarter due to increased investment in pipeline.
General and administrative expenses were up 61.5% to $2 million year over year. This increase was primarily due to a rise in pre-commercialization expenses and headcount related to a potential launch of Firdapse.
Pipeline Update
Catalyst Pharma intends to complete the submission of a rolling NDA for Firdapse in the U.S. for the treatment of patients with Lambert-Eaton myasthenic syndrome (LEMS) in the fourth quarter of 2015. A final decision from the FDA is expected in the third quarter of 2016.
Currently, the company is evaluating Firdapse for the treatment of certain types of congenital myasthenic syndromes (CMS) and a certain form of myasthenia gravis. Firdapse has orphan drug status for both LEMS and CMS in the U.S. It also enjoys Breakthrough Therapy status in the U.S. for LEMS.
Meanwhile, top-line results from a phase Ib on CPP-115 for the treatment of epilepsy and other selected neurological indications such as complex partial seizures and Tourette’s disorder are expected later this quarter.
Catalyst Pharma carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector are Anika Therapeutics Inc. ANIK, Spectrum Pharmaceuticals, Inc. SPPI and Corcept Therapeutics Incorporated CORT, each sporting a Zacks Rank #1 (Strong Buy).
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