Catalyst Pharmaceuticals (NASDAQ: CPRX) stock surged 8.36% in after-hours trading on Wednesday, following the company's stellar fourth-quarter 2024 and full-year financial performance, driven by strong growth in its key products, FIRDAPSE® and AGAMREE®.
The biopharmaceutical company reported record total revenues of $141.8 million for the fourth quarter, representing a 28.3% year-over-year increase and exceeding analysts' expectations. For the full year 2024, total revenues soared 23.5% to $491.7 million, marking another year of record growth.
Catalyst's flagship product, FIRDAPSE®, saw its net revenue climb 18.4% to $306 million for the full year, fueled by sustained organic growth. Additionally, the company's recently launched therapy, AGAMREE®, garnered $46 million in net revenue in 2024, reflecting its successful market adoption and strong commercial performance.
Buoyed by these impressive results and the continued momentum of its key products, Catalyst Pharmaceuticals provided an upbeat outlook for fiscal 2025. The company forecasted total revenues to be between $545 million and $565 million, highlighting its confidence in continued growth prospects.
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