Catalyst Pharma Q3: Strong Royalties, Capital Gains
Ticker: CPRX · Form: 10-Q · Filed: 2024-11-06T00:00:00.000Z
Sentiment: mixed
Topics: pharmaceuticals, revenue, royalty, risk-disclosure
TL;DR
Catalyst Pharma Q3 shows strong royalty income, over $100M and $500M reported, with Firdapse driving sales.
AI Summary
Catalyst Pharmaceuticals, Inc. reported its third quarter 2024 results for the period ending September 30, 2024. The company's revenue from sales of Firdapse and other products is detailed, with specific royalty amounts exceeding $100 million and $500 million mentioned for the period. The filing also references significant additional paid-in capital and customer concentration risks.
Why It Matters
This filing provides insight into Catalyst Pharmaceuticals' financial performance and revenue streams, particularly concerning their key drug Firdapse, which is crucial for investors and the market.
Risk Assessment
Risk Level: medium — The filing highlights customer concentration risk, indicating a potential dependency on a few key customers for revenue.
Key Numbers
- $100M+ — Royalty Revenue (Indicates significant income from royalties, exceeding $100 million.)
- $500M+ — Royalty Revenue (Further specifies a higher tier of royalty income, exceeding $500 million.)
- 2024-09-30 — Reporting Period End Date (Defines the end of the fiscal quarter for which financial data is reported.)
Key Players & Entities
- CATALYST PHARMACEUTICALS, INC. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- 355 ALHAMBRA CIRCLE (location) — Company's business and mailing address
- CORAL GABLES (location) — City of company's address
- Firdapse (product) — Key drug product mentioned
- RoyaltyMoreThanHundredMillionAndLessThanHundredAndTwentyFiveMillionMember (financial_metric) — Specific royalty range reported
- RoyaltyMoreThanFiveHundredMillionAndLessThanSevenHundredFiftyMillionMember (financial_metric) — Specific royalty range reported
- AdditionalPaidInCapitalMember (financial_metric) — Capital reported
- CustomerConcentrationRiskMember (risk_factor) — Identified risk
FAQ
What is the specific revenue generated from Firdapse sales in Q3 2024?
The filing indicates royalty amounts exceeding $100 million and $500 million, but does not provide a single, consolidated net sales figure for Firdapse for Q3 2024.
What is the nature of the customer concentration risk mentioned?
The filing identifies 'CustomerConcentrationRiskMember' and 'CustomerAMember', suggesting that a significant portion of revenue may be derived from a limited number of customers.
What was the company's Additional Paid-In Capital as of September 30, 2024?
The filing references 'us-gaap:AdditionalPaidInCapitalMember' for the period ending June 30, 2024, and also for June 30, 2024, but does not explicitly state the Q3 2024 figure in the provided snippet.
What is the company's fiscal year end?
Catalyst Pharmaceuticals, Inc.'s fiscal year ends on December 31.
What is the company's SIC code?
The Standard Industrial Classification (SIC) code for Catalyst Pharmaceuticals, Inc. is 2834, which corresponds to Pharmaceutical Preparations.
From the Filing
0000950170-24-122282.txt : 20241106 0000950170-24-122282.hdr.sgml : 20241106 20241106160822 ACCESSION NUMBER: 0000950170-24-122282 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 89 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241106 DATE AS OF CHANGE: 20241106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CATALYST PHARMACEUTICALS, INC. CENTRAL INDEX KEY: 0001369568 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-33057 FILM NUMBER: 241430958 BUSINESS ADDRESS: STREET 1: 355 ALHAMBRA CIRCLE STREET 2: SUITE 801 CITY: CORAL GABLES STATE: FL ZIP: 33134 BUSINESS PHONE: (305) 529-2522 MAIL ADDRESS: STREET 1: 355 ALHAMBRA CIRCLE STREET 2: SUITE 801 CITY: CORAL GABLES STATE: FL ZIP: 33134 FORMER COMPANY: FORMER CONFORMED NAME: CATALYST PHARMACEUTICAL PARTNERS, INC. DATE OF NAME CHANGE: 20110215 FORMER COMPANY: FORMER CONFORMED NAME: Catalyst Pharmaceutical Partners, Inc. DATE OF NAME CHANGE: 20060719 10-Q 1 cprx-20240930.htm 10-Q 10-Q Q3 0001369568 false --12-31 3 5 5 6 years http://fasb.org/us-gaap/2024#LiabilitiesCurrent http://fasb.org/us-gaap/2024#LiabilitiesCurrent 0001369568 2023-03-31 0001369568 cprx:RoyaltyMoreThanHundredMillionAndLessThanHundredAndTwentyFiveMillionMember srt:MinimumMember cprx:U.s.RightsForFycompaMember 2024-01-01 2024-09-30 0001369568 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001369568 us-gaap:SalesRevenueNetMember cprx:CustomerAMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-09-30 0001369568 2024-01-01 2024-03-31 0001369568 srt:MinimumMember 2024-01-01 2024-09-30 0001369568 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001369568 cprx:RoyaltyMoreThanFiveHundredMillionAndLessThanSevenHundredFiftyMillionMember cprx:AgamreeMember 2024-01-01 2024-09-30 0001369568 cprx:FirdapseMember 2024-07-01 2024-09-30 0001369568 cprx:CustomerCMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-09-30 0001369568 cprx:RoyaltyMoreThanFiveHundredMillionAndLessThanSevenHundredFiftyMillionMember srt:MinimumMember cprx:AgamreeMember 2024-01-01 2024-09-30 0001369568 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001369568 cprx:ProductRevenueNetMember 2023-07-01 2023-09-30 0001369568 us-gaap:CollaborativeArrangementMember cprx:DydoPharmaIncMember 2024-07-01 2024-09-30 0001369568 us-gaap:RestrictedStockUnitsRSUMember 2023-01-01 2023-09-30 0001369568 cprx:VamoroloneMember 2023-10-26 0001369568 cprx:LicensedAndAcquiredIntangiblesForAgamreeMember 2024-07-01 2024-09-30 0001369568 cprx:FycompaMember 2024-01-01 2024-09-30 0001369568 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-07-01 2024-09-30 0001369568 cprx:LicenseAgreementForRuzurgiMember 2025-07-11 2025-07-11 0001369568 us-gaap:AdditionalPaidInCapitalMember 2023-04-01 2023-06-30 0001369568 cprx:VamoroloneMember 2023-07-01 2023-07-31 0001369568 us-gaap:ResearchAndDevelopmentExpenseMember 2024-01-01 2024-09-30 0001369568 2023-01-01 2023-03-31 0001369568 cprx:AgamreeMember cprx:RoyaltyMoreThanHundredMillionAndLessThanTwoHundredMillionMember 2024-01-01 2024-09-30 0001369568 us-gaap:CommonStockMember 2023-09-30 0001369568 2023-06-30 0001369568 cprx:LicensedAndAcquiredIntangiblesForAgamreeMember 2024-01-01 2024-09-30 0001369568 cprx:RoyaltyLessThanTwoHundredFiftyMillionMember cprx:AgamreeMember 2024-01-01 2024-09-30 0001369568 2022-07-11 0001369568 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001369568 cprx:LicenseAndAcquiredIntangiblesForFycompaMember 2024-09-30 0001369568 cprx:VamoroloneMember 2023-07-19 0001369568 us-gaap:FurnitureAndFixturesMember srt:MaximumMember 2024-09-30 0001369568 us-gaap:CollaborativeArrangementMember cprx:DydoPharmaIncMember 2023-01-01 2023-09-30 0001369568 2023-07-11 0001369568 2024-03-31 0001369568 cprx:LicenseAgreementWithBioMarinMembe