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1. Company Snapshot

1.a. Company Description

Catalyst Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States.It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.The company also develops Firdapse for the treatment of MuSK antibody positive myasthenia gravis, and spinal muscular atrophy type 3, as well as to treat hereditary neuropathy with liability to pressure palsies.


It has license agreements with BioMarin Pharmaceutical Inc.; and collaboration and license agreement with Endo Ventures Limited for the development and commercialization of generic Sabril tablets.The company was formerly known as Catalyst Pharmaceutical Partners, Inc.and changed its name to Catalyst Pharmaceuticals, Inc.


in May 2015.Catalyst Pharmaceuticals, Inc.was founded in 2002 and is based in Coral Gables, Florida.

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1.b. Last Insights on CPRX

Catalyst Pharmaceuticals' recent performance was driven by strong Q4 earnings, beating estimates at $0.70 per share, and revenue growth, mainly due to Firdapse sales. However, the company's momentum may be affected by the recent earnings estimate revisions, which might not support further upside in the near term. Additionally, the stock's price surge may be unsustainable, as seen in its 16.7% gain on January 9. The company's financial results and sales performance will be crucial in determining its future prospects.

1.c. Company Highlights

2. Catalyst Pharmaceuticals' Q3 2025 Earnings: A Strong Performance

Catalyst Pharmaceuticals reported a robust Q3 2025, with total revenue reaching $148.4 million, a 15.3% year-over-year increase, driven by the strong performance of FIRDAPSE and AGAMREE. The company's GAAP net income for Q3 2025 was $52.8 million or $0.42 per diluted share, while non-GAAP net income was $86.1 million or $0.68 per diluted share, beating analyst estimates of $0.51. The year-to-date effective tax rate through the first 9 months of 2025 was 23.6%. FIRDAPSE generated revenue of $92.2 million, a 16.2% year-over-year increase, while AGAMREE generated $32.4 million in net product revenue, a 115.2% increase year-over-year.

Publication Date: Nov -30

📋 Highlights
  • Total Revenue Growth:: Q3 2025 revenue reached $148.4 million, a 15.3% YoY increase, driven by $92.2 million from FIRDAPSE (+16.2% YoY) and $32.4 million from AGAMREE (+115.2% YoY).
  • Strong Cash Position:: Ended Q3 with $689.9 million in cash and no debt, up $163.8 million from operations since December 2024.
  • Full-Year Guidance Raised:: Total revenue guidance increased to $565–585 million, with AGAMREE’s raised to $105–115 million and FYCOMPA to $100–110 million.
  • Profitability Metrics:: GAAP net income of $52.8 million ($0.42 EPS) and non-GAAP net income of $86.1 million ($0.68 EPS), with a 23.6% effective tax rate for the first nine months of 2025.
  • Share Buyback Authorization:: Announced a $200 million share repurchase program, reflecting confidence in capital allocation and stock valuation.

Revenue Growth Drivers

The strong revenue growth was driven by multiple factors, including initiatives to help patients get on therapy more quickly, adding VGCC antibody testing to panels, and utilizing machine learning to identify prospective LEMS patients. AGAMREE has seen strong adoption, with over 95% penetration in the top 100 centers of excellence for Duchenne Muscular Dystrophy and 257 healthcare providers having prescribed the treatment to at least one patient.

Financial Position and Guidance

The company ended Q3 2025 with a cash position of $689.9 million and no debt, driven by $163.8 million in cash generated from operations. Catalyst raised its 2025 total revenue guidance to between $565 million and $585 million, driven by strong performance across its portfolio. The company's financial position and guidance suggest a strong foundation for future growth.

Valuation and Outlook

With a P/E Ratio of 13.19 and an EV/EBITDA of 7.55, the company's valuation appears reasonable, considering its strong growth prospects. Analysts estimate next year's revenue growth at 7.2%, indicating a continued upward trajectory. The company's return on invested capital (ROIC) of 21.35% and return on equity (ROE) of 26.39% demonstrate its ability to generate strong returns for investors.

Product Pipeline and Life Cycle Management

The company is exploring life cycle management opportunities for AGAMREE, including potential add-on indications for disorders with muscle inflammation. FIRDAPSE continues to see strong growth, driven by multiple segments, including idiopathic LEMS and cancer-associated LEMS. The company's efforts to defend its intellectual property, including a Markman hearing with Hetero, demonstrate its commitment to protecting its portfolio.

3. NewsRoom

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Catalyst Pharmaceutical (CPRX) Recently Broke Out Above the 20-Day Moving Average

Dec -04

Source: zacks.com

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Catalyst Pharmaceuticals, Inc. (CPRX) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

Dec -02

Source: seekingalpha.com

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CPRX or DSNKY: Which Is the Better Value Stock Right Now?

Dec -01

Source: zacks.com

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Wall Street Analysts Think Catalyst (CPRX) Could Surge 47.37%: Read This Before Placing a Bet

Dec -01

Source: zacks.com

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Boston Partners Has $27.93 Million Stock Position in Catalyst Pharmaceuticals, Inc. $CPRX

Nov -28

Source: defenseworld.net

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Catalyst Pharmaceuticals to Participate in the Bank of America CNS Therapeutics Virtual Conference

Nov -24

Source: globenewswire.com

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Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Given Consensus Rating of “Buy” by Brokerages

Nov -22

Source: defenseworld.net

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Catalyst Pharmaceuticals Recognized as One of North America's Fastest-Growing Companies on the 2025 Deloitte Technology Fast 500™

Nov -19

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Drug Products

Expected Growth: 10%

Catalyst Pharmaceuticals' 10% growth in drug products is driven by increasing demand for rare disease treatments, expanded product offerings, and strategic partnerships. Growing awareness of rare genetic disorders, such as Lambert-Eaton Myasthenic Syndrome, fuels demand for Catalyst's therapies. Additionally, the company's focus on orphan drug development and commercialization contributes to its growth momentum.

7. Detailed Products

Firdapse

A medication used to treat Lambert-Eaton myasthenic syndrome (LEMS), a rare autoimmune disorder.

CPS-1

A potential treatment for congenital pyruvate kinase deficiency, a rare genetic disorder.

CPS-2

A potential treatment for mitochondrial myopathies, a group of rare genetic disorders.

8. Catalyst Pharmaceuticals, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Catalyst Pharmaceuticals, Inc. has a moderate threat of substitutes due to the availability of alternative treatments for rare genetic disorders.

Bargaining Power Of Customers

Catalyst Pharmaceuticals, Inc. has a low bargaining power of customers due to the lack of alternative treatments for rare genetic disorders, giving patients limited options.

Bargaining Power Of Suppliers

Catalyst Pharmaceuticals, Inc. has a moderate bargaining power of suppliers due to the dependence on a few key suppliers for raw materials and manufacturing services.

Threat Of New Entrants

Catalyst Pharmaceuticals, Inc. has a low threat of new entrants due to the high barriers to entry in the pharmaceutical industry, including regulatory hurdles and high R&D costs.

Intensity Of Rivalry

Catalyst Pharmaceuticals, Inc. operates in a highly competitive industry with several established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 0.91%
Debt Cost 3.95%
Equity Weight 99.09%
Equity Cost 8.41%
WACC 8.37%
Leverage 0.92%

11. Quality Control: Catalyst Pharmaceuticals, Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Catalyst Pharmaceuticals

A-Score: 5.8/10

Value: 5.4

Growth: 9.8

Quality: 9.4

Yield: 0.0

Momentum: 5.0

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
MiMedx

A-Score: 5.0/10

Value: 3.1

Growth: 7.2

Quality: 8.5

Yield: 0.0

Momentum: 7.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
UroGen Pharma

A-Score: 4.9/10

Value: 8.2

Growth: 5.6

Quality: 6.1

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Armata Pharmaceuticals

A-Score: 4.4/10

Value: 8.0

Growth: 4.6

Quality: 6.1

Yield: 0.0

Momentum: 8.0

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
Liquidia

A-Score: 4.0/10

Value: 6.0

Growth: 2.4

Quality: 3.2

Yield: 0.0

Momentum: 10.0

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
Heron Therapeutics

A-Score: 3.6/10

Value: 7.4

Growth: 6.2

Quality: 5.1

Yield: 0.0

Momentum: 1.0

Volatility: 1.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

23.53$

Current Price

23.53$

Potential

-0.00%

Expected Cash-Flows