Catalyst Pharmaceuticals Inc
CPRXHealthcare|Biotechnology|USA
$31.48
+0.00 (+0.00%)
DCF (FCF)
$21.18
Tangible Book
$7.29
Graham Number
$18.16
Earnings Power
$15.91
Financials
Financial Snapshot
Market Cap
$3.85B
Enterprise Value
$753.2M
Revenue (TTM)
$597.0M
Net Income (TTM)
$221.3M
Cash & Equivalents
—
Net Cash/Share
$5.08
Free Cash Flow (TTM)
$208.2M
Operating CF (TTM)
$208.2M
Debt/Equity
0
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $40.4M | $84.0M | $53.5M | $94.5M | $140.3M | $191.3M | $298.4M | $137.6M | $517.6M | $709.2M | $755.9M | |
| Operating Cash Flow | $-18.0M | $-13.7M | $-26.1M | $34.6M | $45.0M | $60.4M | $116.0M | $143.6M | $239.8M | $208.7M | $208.2M | |
| Free Cash Flow | $-18.1M | $-13.7M | $-26.2M | $34.6M | $45.0M | $59.4M | $116.0M | $61.9M | $239.3M | $208.6M | $208.2M | |
| Capital Expenditure | $-96.0K | $0.00 | $-92.0K | $-19.0K | $-11.0K | $-1.0M | $-29.0K | $-81.7M | $-556.0K | $-58.0K | $-59.0K | |
| Financing Cash Flow | $69.0K | $57.4M | $293.0K | $1.1M | $702.0K | $-8.1M | $1.7M | $-10.9M | $140.7M | $-17.0M | $-32.9M |
R&D Spending
R&D (TTM)
$11.5M
R&D Intensity
1.9%
R&D Growth YoY
-9.6%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $500.0K | $102.3M | $119.1M | $140.8M | $214.2M | $398.2M | $491.7M | $589.0M | $597.0M | |
| R&D Expense | $11.4M | $11.4M | $19.9M | $18.8M | $16.5M | $16.9M | $19.8M | $93.2M | $12.6M | $12.7M | $11.5M | |
| R&D % of Revenue | — | — | 3983.8% | 18.4% | 13.9% | 12.0% | 9.2% | 23.4% | 2.6% | 2.2% | 1.9% | |
| SG&A | $7.9M | $7.3M | $15.9M | $36.9M | $44.2M | $49.6M | $57.1M | $133.7M | $177.7M | $193.8M | $196.2M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $500.0K | $102.3M | $119.1M | $140.8M | $214.2M | $398.2M | $491.7M | $589.0M | $597.0M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $14.8M | $17.0M | $21.9M | $34.4M | $52.0M | $68.8M | $87.3M | $83.8M | |
| Gross Profit | $0.00 | $0.00 | $500.0K | $87.5M | $102.0M | $118.9M | $179.8M | $346.2M | $422.9M | $501.7M | $513.1M | |
| R&D | $11.4M | $11.4M | $19.9M | $18.8M | $16.5M | $16.9M | $19.8M | $93.2M | $12.6M | $12.7M | $11.5M | |
| SG&A | $7.9M | $7.3M | $15.9M | $36.9M | $44.2M | $49.6M | $57.1M | $133.7M | $177.7M | $193.8M | $196.2M | |
| Operating Income | $-19.3M | $-18.7M | $-35.3M | $31.8M | $41.3M | $52.4M | $101.8M | $86.8M | $195.1M | $257.8M | $267.6M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-18.1M | $-18.4M | $-34.0M | $33.4M | $41.9M | $52.7M | $104.7M | $94.5M | $216.3M | $283.5M | $296.5M | |
| Net Income | $-18.1M | $-18.4M | $-34.0M | $31.9M | $75.0M | $39.5M | $83.1M | $71.4M | $163.9M | $214.3M | $221.3M | |
| EPS (Diluted) | -0.22 | -0.21 | -0.33 | 0.30 | 0.71 | 0.37 | 0.75 | 0.63 | 1.31 | 1.68 | 1.74 | |
| EBITDA | $-19.2M | $-18.6M | $-35.3M | $31.9M | $41.4M | $52.6M | $103.1M | $119.7M | $232.9M | $295.7M | $305.8M | |
| Shares Out. (M) | 82.88 | 85.80 | 102.63 | 106.02 | 106.24 | 107.80 | 111.38 | 113.75 | 124.94 | 127.26 | 126.90 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.9M | $57.5M | $16.6M | $89.5M | $130.2M | $171.4M | $298.4M | $137.6M | $517.6M | $709.2M | $755.9M | |
| Marketable Securities | $26.5M | $26.5M | $36.9M | $5.0M | $10.0M | $19.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $41.5M | $85.2M | $55.2M | $111.4M | $159.2M | $210.1M | $320.8M | $219.3M | $623.6M | $894.0M | $940.4M | |
| Total Assets | $41.7M | $85.4M | $60.5M | $112.4M | $192.4M | $237.8M | $375.6M | $470.1M | $851.4M | $1.10B | $1.15B | |
| Total Current Liabilities | $2.1M | $4.3M | $9.5M | $24.1M | $22.8M | $27.1M | $57.6M | $76.1M | $120.7M | $147.2M | $132.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $2.4M | $4.4M | $9.7M | $24.7M | $22.8M | $31.0M | $75.2M | $82.2M | $123.8M | $149.7M | $134.9M | |
| Stockholders' Equity | $39.3M | $81.0M | $50.8M | $87.6M | $169.6M | $206.8M | $300.4M | $387.9M | $727.6M | $954.3M | $1.01B | |
| Retained Earnings | $-108.1M | $-126.6M | $-160.6M | $-128.7M | $-53.7M | $-26.3M | $49.9M | $121.3M | $285.2M | $474.2M | $523.3M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-18.0M | $-13.7M | $-26.1M | $34.6M | $45.0M | $60.4M | $116.0M | $143.6M | $239.8M | $208.7M | $208.2M | |
| Capital Expenditure | $-96.0K | $0.00 | $-92.0K | $-19.0K | $-11.0K | $-1.0M | $-29.0K | $-81.7M | $-556.0K | $-58.0K | $-59.0K | |
| Free Cash Flow | $-18.1M | $-13.7M | $-26.2M | $34.6M | $45.0M | $59.4M | $116.0M | $61.9M | $239.3M | $208.6M | $208.2M | |
| Investing Cash Flow | $3.6M | $-4.0K | $-15.1M | $37.2M | $-5.0M | $-11.0M | $9.2M | $-293.5M | $-556.0K | $-58.0K | $-85.0K | |
| Financing Cash Flow | $69.0K | $57.4M | $293.0K | $1.1M | $702.0K | $-8.1M | $1.7M | $-10.9M | $140.7M | $-17.0M | $-32.9M | |
| Issuance of Stock | $0.00 | $53.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $141.0M | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-12.1M | $0.00 | $0.00 | $0.00 | $-25.3M | $-39.9M | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.8M | $2.4M | $3.6M | $3.8M | $6.3M | $6.1M | $7.9M | $14.3M | $22.3M | $24.8M | $25.2M | |
| Net Change in Cash | $-14.3M | $43.6M | $-40.9M | $73.0M | $40.7M | $41.2M | $127.0M | $-160.8M | $379.9M | $191.6M | $175.2M |
Dilution Tracker
Shares Outstanding
127M
5-Year Share Growth
+17.7%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 82.88 | 85.80 | 102.63 | 106.02 | 106.24 | 107.80 | 111.38 | 113.75 | 124.94 | 127.26 | 126.90 | |
| YoY Change % | — | 3.5% | 19.6% | 3.3% | 0.2% | 1.5% | 3.3% | 2.1% | 9.8% | 1.9% | -0.3% | |
| Stock Issuance | $0.00 | $53.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $141.0M | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-12.1M | $0.00 | $0.00 | $0.00 | $-25.3M | $-39.9M | |
| Stock Based Comp. | $1.8M | $2.4M | $3.6M | $3.8M | $6.3M | $6.1M | $7.9M | $14.3M | $22.3M | $24.8M | $25.2M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 85.6% | 85.7% | 84.5% | 83.9% | 87.0% | 86.0% | 85.2% | 86.0% | |
| Operating Margin % | 0.0% | 0.0% | -7059.0% | 31.1% | 34.7% | 37.2% | 47.5% | 21.8% | 39.7% | 43.8% | 44.8% | |
| Net Margin % | 0.0% | 0.0% | -6800.8% | 31.2% | 63.0% | 28.0% | 38.8% | 17.9% | 33.3% | 36.4% | 37.1% | |
| EBITDA Margin % | 0.0% | 0.0% | -7051.4% | 31.2% | 34.8% | 37.3% | 48.1% | 30.1% | 47.4% | 50.2% | 51.2% | |
| FCF Margin % | 0.0% | 0.0% | -5248.0% | 33.8% | 37.8% | 42.1% | 54.2% | 15.5% | 48.7% | 35.4% | 34.9% | |
| ROE % | -38.1% | -30.6% | -51.6% | 46.1% | 58.3% | 21.0% | 32.8% | 20.8% | 29.4% | 25.5% | 24.4% | |
| ROA % | -35.5% | -29.0% | -46.6% | 36.9% | 49.2% | 18.4% | 27.1% | 16.9% | 24.8% | 21.9% | 21.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)18.09
Historical4.43 / 15.98 / 70.00
Industry Med.27.41
P/S6.71
Historical2.68 / 5.19 / 1020.00
Industry Med.9.51
P/B3.80
Historical1.97 / 3.79 / 12.17
Industry Med.2.93
EV/EBITDA10.14
Historical-49.83 / 9.69 / 56.99
Industry Med.13.14
EV/Revenue5.19
Historical1.60 / 4.20 / 940.97
Industry Med.8.71
P/FCF19.25
Historical6.71 / 13.12 / 44.44
Industry Med.27.54
Intrinsic Value Models
DCF (FCF Based)
$21.18
Tangible Book
$7.29
Net Current Assets
$6.590
Graham Number
$18.16
Peter Lynch Value
$50.28
Net-Net Working Capital
$6.03
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | 12.50 | 4.70 | 18.30 | 24.80 | 26.68 | 15.93 | 13.89 | 18.09 | |
| PS Ratio | - | - | 384.00 | 3.89 | 2.98 | 5.18 | 9.67 | 4.80 | 5.30 | 5.04 | 6.71 | |
| PB Ratio | 2.22 | 4.95 | 3.89 | 4.42 | 2.04 | 3.37 | 6.52 | 4.64 | 3.47 | 3.00 | 3.80 | |
| EV/EBITDA | -2.43 | -17.01 | -4.08 | 9.23 | 4.99 | 9.70 | 16.14 | 13.92 | 8.62 | 7.28 | 10.14 | |
| EV/Revenue | 0.00 | 0.00 | 287.55 | 2.88 | 1.73 | 3.62 | 7.77 | 4.19 | 4.08 | 3.66 | 5.19 |
Analyst Estimates & Quality
Altman Z-Score
19.99
Safe
Piotroski F-Score
5
Moderate
Beneish M-Score
-1.84
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $635.9M | $718.2M | $792.4M |
| Net Income | $241.6M | $290.3M | $225.7M |
| EPS | 1.98 | 2.48 | 1.89 |
| Book Value per Share | 9.53 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 1.97 | 2.67 | 0.00 |
| Operating CF | $250.00M | $338.83M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| FIRDAPSE | $358.4M |
| AGAMREE | $117.1M |
| FYCOMPA | $113.3M |
| License and other revenue | $182.0K |
By Geography
| Segment | 2025 |
|---|---|
| United States | $589.0M |