Catalyst (CPRX) Posts In-Line Q4 Loss, Pipeline In Progress
Zacks Investment Research | Mar 15, 2018 12:03AM ET
Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) reported a loss of 6 cents per share in the fourth quarter of 2017, on par with the Zacks Consensus Estimate. The reported loss was wider than the year-ago loss of 5 cents.
Being a development-stage company, Catalyst Pharma does not have any approved product in its portfolio yet. Hence, the company did not generate any revenues in the quarter.
So far this year, Catalyst Pharma’s shares have rallied 74.2% compared with the industry ’s gain of 4.4%.
Quarter in Detail
Research and development (R&D) expenses were $3.4 million, up 20.7% from the year-ago quarter. The costs included expenses related to ongoing studies and trials for Firdapse, costs associated with the Firdapse Expanded Access Program and expenses pertaining to the CPP-115 and generic Sabril programs.
General and administrative expenses totaled $2.1 million, up 41% from the year-ago quarter.
Pipeline Update
Currently, Catalyst Pharma has two candidates under development — Firdapse and CPP-115.
The company made significant progress with respect to the second phase III study evaluating Firdapse for the treatment of Lambert-Eaton Myasthenic Syndrome. Catalyst Pharma also successfully completed the required abuse liability studies that confirmed that Firdapse does not exhibit abuse potential.
The company also expects to enroll patients in its phase III study for MuSK antibody positive myasthenia gravis in the first half of 2018 and the proof-of-concept study for spinal muscular atrophy Type 3 in the second quarter of 2018.
Meanwhile, the company is on track to resubmit its new drug application for Firdapse in the first quarter of 2018 and is actively engaged in pre-commercialization activities for a potential launch of the same.
The company expects to complete enrollment in the phase III CMS (CMS-001) study before 2018-end and report top-line results it in the first quarter of 2019.
Zacks Rank & Key Picks
Catalyst Pharma has a Zacks Rank #3 (Hold). A few better-ranked stocks from the same space are Regeneron (NASDAQ:REGN) , Ligand Pharmaceuticals (NASDAQ:LGND) and Enanta Pharma (NASDAQ:ENTA) . While Regeneronsports a Zacks Rank #1 (Strong Buy), Ligand andEnanta Pharma carry a Zacks Rank #2 (Buy). You can see .
Get The News You Want
Regeneron’s earnings per share estimates have moved up from $18.65 to $18.68 and from $21.56 to $21.60 for 2018 and 2019, respectively, in the last 30 days. The company pulled off a positive earnings surprise in three of the last four quarters, the average beat being 9.15%.
Ligand’s earnings per share estimates rose from $3.78 to $4.20 and $4.75 to $5.32 for 2018 and 2019, respectively, over the last 30 days. The company delivered positive earnings surprises in three of the trailing four quarters, the average beat being 24.88%. The company’s shares have rallied 64.6% in a year’s time.
Enanta Pharma delivered a positive earnings surprise in three of the last four quarters, with an average beat of 373.1%. The company’s shares have gained 193.6% over a year.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax (NYSE:EFX) announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others. Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.