Start Time: 08:30 January 1, 0000 9:12 AM ET

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Q2 2022 Earnings Conference Call

August 10, 2022, 08:30 AM ET

Company Participants

Patrick McEnany - Co-Founder, Chairman, President and CEO

Jeff Del Carmen - Chief Commercial Officer

Steven Miller - COO and Chief Scientific Officer

Ali Grande - VP, CFO and Treasurer

Conference Call Participants

Charles Duncan - Cantor Fitzgerald

Joe Catanzaro - Piper Sandler

Les Sulewski - Truist Securities

Operator

Greetings, and welcome to the Catalyst Pharmaceuticals Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conference is being recorded.

I will now turn the conference over to your host, Ali Grande. You may begin.

Ali Grande

Good morning everyone and thank you for joining our conference call to discuss Catalyst's second quarter 2022 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 would like to remind you that in the following comments 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 are not guarantees of future performance. They involve risks, uncertainties, and assumptions that are difficult to predict and may prove not to be accurate, especially in light of the continued effects of COVID-19. Actual results may vary from the expectations contained in our forward-looking statements. These 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 2021 annual report on Form 10-K.

At this time, I'll turn the call over to Pat.

Patrick McEnany

Thanks, Ali. Good morning everyone and thank you for joining us today on our second quarter 2022 financial results and corporate update call. We are very pleased to report that we delivered exceptional financial performance again for the second quarter of 2022, having achieved an all-time high in total FIRDAPSE net revenue of $53 million, representing an increase of 57.7% compared to the same period last year.

Net income before income taxes for Q2 of 2022 was $28.2 million, a 77.6% increase compared to $15.9 million for Q2 of 2021. We reported GAAP net income of $21.6 million for Q2 of 2022 or $0.21 per basic share and $0.20 per diluted share. We continue to bolster our cash position as we ended the second quarter of 2022 with $220.8 million in cash and investments and no funded debt.