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Catalyst (CPRX) Posts Narrower-Than-Expected Loss in Q3

Zacks

Catalyst Pharmaceuticals, Inc. CPRX reported a loss of 5 cents per share in the third quarter of 2017, narrower than the Zacks Consensus Estimate of a loss of 6 cents. However, the figure was in line with the loss recorded in the year-ago quarter.

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 share price has increased 184.8% compared with the industry’s gain of 1.5%.


Quarter in Detail

Research and development (R&D) expenses were $2.7 million, up 8.9% from the year-ago quarter. For the first nine months of 2017, the same remained substantial as the company continued its ongoing trials evaluating Firdapse for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS).

Also general and administrative expenses were $1.6 million, up 12.8%.

Pipeline Update

Currently, Catalyst Pharma has two candidates under development – Firdapse and CPP-115.

During the third quarter, the company completed enrollment in LMS-003, the second phase III study of Firdapse in LEMS patients. Catalyst Pharma expects to report top-line data from this study in December 2017. Additionally, it plans to resubmit its new drug application for Firdapse in the first quarter of 2018.

Meanwhile, the company is developing Firdapse for other indications including CMS and MuSK antibody positive myasthenia gravis (MuSK-MG). It expects to initiate MuSK-MG phase III study in the first quarter of 2018. Furthermore, Catalyst Pharma intends to complete enrollment in CMS-001 clinical trial for CMS patients and expects top-line results from CMS-001 study in the first half of 2018.

Zacks Rank & Stocks to Consider

Catalyst Pharma carries a Zacks Rank #3 (Hold). Some better-ranked health care stocks in the same space include Ligand Pharmaceuticals Incorporated LGND, Exelixis, Inc. EXELand Adaptimmune Therapeutics plc ADAP. While Ligand sports a Zacks Rank #1 (Strong Buy), Exelixis and Adaptimmune carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ligand’s earnings per share estimates have moved up $3.68 to $3.70 for 2018 over the last 30 days. The company pulled off positive earnings surprises in two of the trailing four quarters, with an average beat of 6.19%. The share price of the company has increased 44.7% year to date.

Exelixis’ earnings per share estimates have moved up from 26 cents to 45 cents for 2017 and from 63 cents to 70 cents for 2018 over the last 30 days. The company delivered positive earnings surprises in all of the trailing four quarters, with an average beat of 572.92%. The share price of the company has increased 77% year to date.

Adaptimmune’s loss per share estimates have narrowed from 96 cents to 76 cents for 2017 and from 90 cents to 75 cents for 2018 over the last 60 days. The company came up with positive earnings surprises in two of the trailing four quarters, with an average beat of 24.79%. The share price of the company has increased 101.9% year to date.

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