Why Catalyst Pharmaceuticals Shares Are Moving

Catalyst Pharmaceuticals Inc CPRX shares are trading higher by 9.66% to $15.72 Thursday morning after the company reported better-than-expected fourth-quarter results.

What Happened: Catalyst Pharmaceuticals reported quarterly earnings of 31 cents per share which beat the analyst consensus estimate of 21 cents.

The company reported quarterly sales of $60.76 million which beat the analyst consensus estimate of $58.09 million by 4.59 percent. This sales figure is a 58.6% increase over sales of $38.31 million in the same period last year.

See Also: Why Esperion Therapeutics Stock Is Tanking Thursday

What Else: Catalyst Pharmaceuticals says the company achieved record full-year 2022 total net revenue of $214 million, representing a 52% increase YoY driven by consecutive quarterly FIRDAPSE net product revenue growth.

The company also reported continued growth for FIRDAPSE, achieving net product revenue of $61 million for fourth-quarter 2022, representing robust growth of a 59% increase compared to fourth-quarter 2021.

According to data from Benzinga Pro, CPRX has a 52-week high of $22.11 and a 52-week low of $6.15.