I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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CORAL GABLES, Fla., August 15, 2019 – Shares of Catalyst Pharmaceuticals Inc. (NASDAQ: CPRX) showed the bullish trend with a higher momentum of 2.83% to $5.45. The company traded total volume of 1.426M shares as contrast to its average volume of 1.55M shares. The company has a market value of $566.15M and about 103.88M shares outstanding.
Catalyst Pharmaceutical Partners Inc. (CPRX) reported a loss of $645.0K in its first quarter. On a per-share basis, the Coral Gables, Florida-based company said it had a loss of 1 cent. The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
For the quarter ended March 31, 2019, Catalyst reported a net loss of $644.503K, or $0.01 per basic and diluted share, contrast to a net loss of $5.699M, or $0.06 per basic and diluted share, for the same period in 2018.
Catalyst launched its first product, Firdapse, in January 2019. Related product revenues, net for the quarter ended March 31, 2019 were $12.448M. Cost of sales for the same quarter was $1.711M.
Research and development expenses for the first quarter of 2019 were $3.307M, in line with the comparable period in 2018 with expenses of $3.259M. Research and development expenses for the first three months of 2019 mainly consisted of expenses in medical, regulatory affairs and quality assurance programs, as well as expenses from our Firdapse clinical trials, studies and Expanded Access Program. Research and development expenses in the comparable period in 2018, mainly consisted of consulting expenses as we prepared to submit our NDA for Firdapse for the treatment of LEMS during March 2018, as well as expenses from our Firdapse clinical trials, studies and Expanded Access Program. The Company anticipates that costs related to research and development activities will continue to be substantial throughout 2019 as it continues its on-going clinical trials and studies in MusK-MG, CMS and SMA Type 3 and its Expanded Access Program for Firdapse.
Selling, general and administrative expenses for the first quarter of 2019 totaled $8.416M as contrast to $2.674M in the first quarter of 2018. The increase when contrast to the same period in 2018 is mainly because of increased selling expenses, counting the cost of our sales force and supporting personnel, product launch expenses, market access and market research expenses. The Company anticipates selling, general and administrative expenses to increase in 2019, as we continue to build up our infrastructure and commercial and patient programs in support of Firdapse sales activities in 2019.
At March 31, 2019, Catalyst had cash and cash equivalents and investments of $50.60M and no funded-debt. Catalyst believes that its existing capital resources will be sufficient to support its planned operations for at least the next year.
The Company offered net profit margin of -92.90% while its gross profit margin was 86.80%. ROE was recorded as -21.00% while beta factor was 2.46. The stock, as of recent close, has shown the weekly upbeat performance of 6.24% which was maintained at 183.85% in this year.