CPRX earnings analysis
What we found in CPRX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Catalyst Pharmaceuticals reported a strong Q1 2026 with revenue of approximately $149.4 million, reflecting a 5.6% increase year-over-year. However, EPS of $0.50 came in below estimated expectations of $0.63, indicating pressure from generics impacting FYCOMPA® while FIRDAPSE® and AGAMREE® showed robust growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue increased by $7.9 million to $149.4 million compared to $141.4 million in Q1 2025.
- FIRDAPSE® Performance
- Product revenue for FIRDAPSE® rose by 18.1% to $98.9 million from $83.7 million year-over-year.
- AGAMREE® Revenue Increase
- AGAMREE® sales surged by 66.6% to $36.7 million, up from $22.0 million.
- Improved Net Income
- Net income increased to $63.7 million in Q1 2026 from $56.7 million in Q1 2025.
- Cash Position Strength
- Cash and cash equivalents increased to $755.9 million from $709.2 million at year-end.
- Operating Cash Flow
- Net cash provided by operating activities was approximately $59.6 million for Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- FYCOMPA® Revenue Decline
- FYCOMPA® revenue dropped by 61.3% to $13.8 million due to the entry of generic competition after losing exclusivity.
- Acquisition Dependency
- Upcoming merger with Angelini Pharma has risks associated with regulatory approvals and successful integration.
- Litigation Costs
- Ongoing patent litigations, including a recently settled agreement with Hetero, may result in additional costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.5
- Segment
- FIRDAPSE®: $98.9M
- Segment
- AGAMREE®: $36.7M
- Segment
- FYCOMPA®: $13.8M
What they said about what is next.
No quantitative guidance provided; management's outlook seen as contingent on the completion of the proposed merger.
The filing reads about the same as the one before it.
What came before.
- 10-K · April 30, 2026
- Catalyst Pharmaceuticals reported solid financial performance for the year ended December 31, 2025, with significant revenue growth and improved profitability metrics. The company achieved total revenues of $573.5…
- 10-K · February 25, 2026
- Catalyst Pharmaceuticals presents a commercial-stage rare disease platform anchored by three marketed products (FIRDAPSE®, AGAMREE®, FYCOMPA®) and a growing commercial footprint. AGAMREE® materially ramped in 2025 (net…
- 10-Q · November 8, 2023
- Catalyst reported strong product revenue growth to $102,688,000 for Q3 2023 (up from $57,244,000 in Q3 2022) but recorded a GAAP operating loss of $(37,188,000) and a net loss of $(30,764,000) for the quarter, driven by…
- 10-Q · May 10, 2022
- Catalyst reported Q1 revenue of $43.089M (vs $30.205M year-ago) driven by product sales of $43.033M. Profitability improved materially: operating income was $17.366M and net income $13.241M (diluted EPS $0.12 vs $0.07…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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