Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Q2 2023 Earnings Conference Call August 10, 2023 8:30 AM ET
Company Participants
Alicia Grande - Vice President, Chief Financial Officer and Treasurer
Patrick McEnany - Chairman and Chief Executive Officer
Jeffrey Del Carmen - Chief Commercial Officer
Steven Miller - Chief Operating Officer and Chief Scientific Officer
Conference Call Participants
Joe Catanzaro - Piper Sandler
Les Sulewski - Truist Securities
Charles Duncan - Cantor Fitzgerald
Operator
Hello, and welcome to the Catalyst Pharmaceutical Second Quarter 2023 Financial Results Conference Call and Webcast. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to your host, Chief Financial Officer, Ali Grande. Please go ahead, Ali.
Alicia Grande
Good morning, everyone, and thank you for joining our conference call to discuss Catalyst’s second quarter 2023 financial results and corporate highlights. Leading the call today is Patrick McEnany, Chairman and Chief Executive Officer. We are also joined by Dr. Steven Miller, our Chief Operating Officer and Chief Scientific Officer, and Jeffrey Del Carmen, our Chief Commercial Officer.
Before we begin, I want to remind you that in our remarks this morning and in the Q&A session, we will make statements about expected future results which may be forward-looking statements for purposes of federal securities laws. These statements relate to our current expectations, estimates and projections and do not guarantee future performance. They involve risks, uncertainties and assumptions that are difficult to predict and may prove not to be accurate. Actual results may vary from the expectations contained in our forward-looking statements.
The forward-looking statements should be considered only in conjunction with the detailed information contained in our SEC filings, including the risk factors described in our 2022 annual report on Form 10-K.
At this time, I’ll turn the call over to Pat.
Patrick McEnany
Thanks, Ali, and welcome everyone to our second quarter 2023 results conference call. Catalyst’s outstanding results for the second quarter of 2023 reflect FIRDAPSE strong organic growth performance, meaningful FYCOMPA revenue contributions and continued execution excellence. Our achievements reinforce our confidence versus same growth and further underscore the exceptional execution capabilities across all functional areas of our business.
At this time, I'll present key highlights of our quarterly results. We achieved total revenues of $99.6 million during the quarter, representing 87.5% growth year-over-year. The strong performance reflects FIRDAPSE product net revenues of $64.9 million, achieving a net revenue increase of 22.3% year-over-year. We are confident about the continued growth expectations for FIRDAPSE based on our recent initiatives targeting oncologists to treat the subset of LEMS patients suffering from small cell lung cancer, as well as more recent LEMS epidemiology data that Jeff will discuss.