Catalyst Pharmaceuticals Inc. (NASDAQ: CPRX) reported first-quarter adjusted earnings of $0.79 per share, surpassing analyst consensus by 23.4 percent and reinforcing its growth trajectory ahead of a pending acquisition.
The company's results for the quarter ended March 31, 2026, highlighted a 28 percent year-over-year increase in net product revenues from its promoted treatments, FIRDAPSE® & AGAMREE®, according to the official press release.
Shares of Catalyst have gained about 33.5 percent since the beginning of the year, significantly outperforming the S&P 500. The strong earnings report comes as investors await the closing of a proposed $4.1 billion acquisition by Angelini Pharma, with Catalyst refraining from providing forward guidance or hosting an earnings call in light of the pending deal.
The company’s total revenue increased 5.6 percent year-over-year to $149.4 million. This growth was led by an 18.1 percent rise in sales for Firdapse, its flagship treatment for Lambert-Eaton myasthenic syndrome, which generated $98.9 million. Revenue from Agamree, a treatment for Duchenne muscular dystrophy, surged 66.6 percent to $36.7 million. These gains offset a 61.3 percent decline in revenue from Fycompa, which lost exclusivity in 2025.
Catalyst also benefited from a significant reduction in its cost of sales, which fell to $14.5 million from $17.9 million a year ago. The company noted the expiration of a tiered royalty on U.S. sales of Firdapse, which previously reached as high as 18.5 percent and now stands at a combined 6 percent.
The company’s financial health appears robust, with cash and cash equivalents growing to $755.9 million as of March 31, with no funded debt on its balance sheet.
The strong performance of its core drugs provides a solid operational backdrop as the company moves toward its acquisition by Angelini Pharma. Investors will be watching for regulatory updates and the final closing of the transaction as the next major event.
This article is for informational purposes only and does not constitute investment advice.
