CATALYST PHARMACEUTICALS, INC.
catalystpharma.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2026 10-Q, filed May 11, 2026. Its latest SEC filing is a 15-12G from Jul 24, 2026.
10-Q for Q1 FY2026, filed May 11, 2026
The sections below describe the company as of the FY2025 annual report.
What Did They Do?
Sells FIRDAPSE, AGAMREE and FYCOMPA, medicines for rare neuromuscular and neurological diseases and epilepsy, to patients through healthcare providers and specialty pharmacies.
10-K for FY2025, filed Feb 25, 2026We are a commercial-stage, patient-centric biopharmaceutical company focused on in-licensing, developing, and commercializing novel…View ↗
We are supporting the distribution in the U.S. of FIRDAPSE® through Catalyst Pathways®, our personalized treatment support program for…View ↗
Since April 1, 2025, we have sold AGAMREE® in the U.S. through a dedicated field-based force of approximately 16, including sales (12…View ↗
FYCOMPA® is the first and only AED that targets a specific receptor in the brain called “AMPA”. The receptor plays a role in allowing…View ↗
How Did They Make Money?
U.S. distributors and wholesalers pay for medicines when delivered or dispensed to patients; product payment terms are 30 to 60 days. Licensing arrangements can also bring in upfront fees, milestone payments and sales royalties.
10-K for FY2025, filed Feb 25, 2026The Company also may generate revenues from payments received under collaborative and licensing arrangements. Collaborative and license…View ↗
The Company recognizes revenue when its customers obtain title of the promised goods, in an amount that reflects the consideration to which…View ↗
During 2023, the Company sold FYCOMPA® in the U.S. commercial market through a Transition Service Agreement with a U.S. subsidiary of Eisai…View ↗
Product Revenue, Net: The Company recognizes revenue on product sales when its customers obtain control of the Company’s products, which…View ↗
FIRDAPSE® is currently marketed for the treatment of LEMS in Canada through our exclusive sublicensee, KYE Pharmaceuticals, Inc. (KYE). We…View ↗
$589M
-
10-K for FY2025, filed Feb 25, 2026
$589M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue, net
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
100%
FY2022: 100%
|
Product revenue, net, FY2025
$588.8M Sources
|
Sold outright |
|
License and other revenue
|
<0.1%
FY2022: 0.1%
|
License and other revenue, FY2025
$182K Sources
|
Who Were Their Customers?
A U.S. distributor exclusively buys FIRDAPSE and AGAMREE for resale to a small group of specialty pharmacies; FYCOMPA is sold directly to wholesalers and specialty pharmaceutical distributors.
10-K for FY2025, filed Feb 25, 2026
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2026, filed May 11, 2026
$63.7MView ↗
- ▲ +12%
- vs $56.7M in Q1 FY2025
10-Q for Q1 FY2026, filed May 11, 2026
Open tableView ↗
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Jul 16, 2026
Angelini Pharma acquired Catalyst, which became its wholly owned subsidiary.
Catalyst stock was delisted from Nasdaq following the merger.
Sources
8-K, filed Jul 16, 2026
On July 15, 2026, the Company (i) notified the Nasdaq Capital Market (“Nasdaq”) of the consummation of the Merger and its intent to remove…View ↗
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May 7, 2026
Catalyst agreed to be acquired by Angelini Pharma.
Each share would be converted into $31.50 in cash at the merger's effective time.
Sources
8-K, filed May 7, 2026
At the effective time of the Merger (the “Effective Time”), each share of the Company’s common stock, par value $0.001 per share (the…View ↗
Grew. Revenue grew 4.2x in 4 years, from $140.8M in FY2021 to $589M in FY2025, about 43% a year.
Broader product portfolio
The older report described FIRDAPSE as the flagship U.S. product and FYCOMPA as newly acquired; the latest report also describes AGAMREE as a commercial product and reports sales of it.
10-K for FY2022, filed Mar 15, 2023 10-K for FY2025, filed Feb 25, 2026Our flagship U.S. commercial product is FIRDAPSE® (amifampridine) Tablets 10 mg. approved for the treatment of Lambert-Eaton myasthenic…View ↗
Who Did They Compete With?
Competes with PTC Therapeutics and Sarepta
10-K for FY2025, filed Feb 25, 2026The market for DMD treatment is highly competitive, with multiple lines of treatment and medications, both name brand and generic. The…View ↗
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