U.S. markets open in 9 hours 16 minutes

Catalyst Gives Preliminary Firdapse Estimates & Other Updates

Zacks Equity Research

Catalyst Pharmaceuticals, Inc. CPRX provided a corporate update, including preliminary net revenues, for 2019.

The company’s only FDA-approved product Firdapse’s launch has been strong. The company has exceeded all expectations for the number of patients who are currently being treated with Firdapse, including the individuals who have received a medicine to treat Lambert-Eaton myasthenic syndrome (LEMS) for the first time. 

Catalyst, thus, expects Firdapse net product revenues for the treatment of LEMS to be about $30 million for the fourth quarter of 2019 and net product revenues of about $102 million for the drug for 2019.

Shares of the company have surged 71.1% in the past year compared with the industry’s growth of 0.2%.

The company expects 2020 Firdapse net product revenues in the range of $135-$155 million.

For 2020, the company expects Research & Development and Selling, General & Administrative expenses of $65 million, which includes approximately $4 million in non-cash compensation.

The company is also working on developing Firdapse for additional indications. Catalyst initiated an investigator-sponsored phase II/III study on the drug for the symptomatic treatment of MuSK-antibody positive MG. It expects to report top-line results from this study in the first half of 2020. If positive, the company expects to file a supplemental new drug application (sNDA) with the FDA by the end of the year.

Firdapse is also being evaluated in a study for the potential treatment of Spinal Muscular Atrophy (SMA) Type 3 patients.

Additionally, the company expects additional neuromuscular conditions to be studied in 2020. These include Kennedy's disease and hereditary neuropathy with liability to pressure palsies (HNPP).

Catalyst aims to expand its portfolio through business development and develop a formal process for evaluating additional rare disease opportunities.  

 

Catalyst Pharmaceuticals, Inc. Price

 

Catalyst Pharmaceuticals, Inc. Price

Catalyst Pharmaceuticals, Inc. price | Catalyst Pharmaceuticals, Inc. Quote

Zacks Rank & Key Picks

Catalyst currently carries a Zacks Rank #3 (Hold). 

A few better-ranked stocks in the medical drugs sector are AcelRx Pharmaceuticals, Inc. ACRX, Assertio Therapeutics, Inc.ASRT and Corcept Therapeutics Inc. CORT, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AcelRx’s loss per share estimates have narrowed from 72 cents to 70 cents for 2019 and from 67 cents to 62 cents for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters by 24.24%, on average.

Assertio delivered a positive earnings surprise in the trailing four quarters by 26.88%, on average.

Corcept’s earnings per share estimates have increased from 73 cents to 77 cents for 2019 and from 93 cents to 98 cents for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters by 20.02%, on average.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.6% per year. These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Catalyst Pharmaceuticals, Inc. (CPRX) : Free Stock Analysis Report
 
Corcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report
 
AcelRx Pharmaceuticals, Inc. (ACRX) : Free Stock Analysis Report
 
ASSERTIO THERAPEUTICS, INC (ASRT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research