Catalyst Pharmaceuticals, Inc.(CPRX), a commercial-stage biopharmaceutical company, reported its fourth quarter with a slip in net income despite revenue growth. However, for the full year 2025, earnings improve. In addition, the firm provided full-year 2026 financial guidance.
For the fourth quarter, adjusted net income slipped to $87.10 million or $0.68 per share from $88.81 million or $0.70 per share.
Net income for the quarter decreased to $52.69 million, or $ 0.41 per share, from $55.94 million, or $0.44 per share, in the prior year.
Total quarterly revenues increased to $152.61 million from $141.82 million in the prior year.
For the full year 2025, adjusted net income jumped to $346.17 million, or $2.72 per share, from $276.29 million, or $2.21 per share.
Net income climbed to $214.33 million or $1.68 per diluted share from $163.89 million or $1.31 per share
Total revenues jumped $589.0 million, compared to $491.7 million in the prior year.
Looking ahead to the full year 2026, Catalyst Pharma expects total revenues to be between $615 million and $645 million, up from $589.0 million in 2025.
FIRDAPSE's product revenue is expected to be between $435 million and $450 million, growth of between 21.4% and 25.6% compared to $358.4 million in 2025.
AGAMREE's revenue is expected to be between $140 million and $150 million, a growth of between 19.6% and 28.1% from $117.1 million in 2025.
FYCOMPA revenue view is lowered to the $40 million to $45 million range, from $113.3 million in 2025. The firm added that this is driven by ongoing market demand, despite the loss of patent exclusivity at the end of May 2025, for FYCOMPA tablets, with three generic competitors, and for FYCOMPA oral solution, with one generic competitor.
As of December 31, 2025, cash and cash equivalents were $709.2 million from $517.55 million in the prior year.
"Our 2025 performance is a reflection of Catalyst's organic growth of our promoted products, FIRDAPSE and AGAMREE, and our continued commercial success," said Rich Daly, President and CEO, Catalyst.
Catalyst Pharma's FDA-approved clinical pipeline includes Firdapse for the treatment of Lambert-Eaton myasthenic syndrome (LEMS); Fycompa for the treatment of focal-onset and tonic-clonic seizures; and AGAMREE, a corticosteroid for the treatment of Duchenne muscular dystrophy in patients 2 years of age and older.
The company has license agreements with BioMarin Pharmaceutical Inc. and a collaboration and license agreement with Endo Ventures Limited for the development and commercialisation of generic Sabril tablets.
CPRX has traded between $19.05 and $26.58 in the last year. The stock closed Wednesday's trade at $24.86, up 2.77%
In the pre-market, CPRX is down 1.41%, at $24.51
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