Shares of Catalyst Pharmaceuticals (CPRX) jumped 6.36% in after-hours trading on Wednesday following the company's release of better-than-expected third-quarter results and an increase in full-year guidance. The biopharmaceutical firm, which focuses on developing and commercializing therapies for people with rare diseases, demonstrated strong financial performance driven by its key products.
Catalyst reported Q3 revenue of $148.40 million, significantly beating analyst estimates of $136.80 million. The company's flagship product, FIRDAPSE, continued to show sustained organic growth and market penetration, while AGAMREE also contributed to the revenue growth with strong demand and penetration into Duchenne Muscular Dystrophy (DMD) centers. In light of these positive results, Catalyst raised its full-year 2025 revenue guidance to $565-$585 million, up from previous estimates.
The company's confidence in its future prospects was further underscored by the announcement of a $200 million share repurchase program. This move, coupled with the strong financial results and raised guidance, signals management's optimistic outlook for Catalyst's continued growth. Investors responded positively to these developments, as reflected in the significant after-hours stock price increase.
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