$CPRX
Catalyst Pharmaceuticals Inc

2016 Q2 Form 10-Q Financial Statement

#000119312516585609 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.310M $2.690M $1.940M
YoY Change -0.43% 38.66% 155.26%
% of Gross Profit
Research & Development $2.509M $3.546M $2.350M
YoY Change -2.66% 50.94% -14.52%
% of Gross Profit
Depreciation & Amortization $8.762K $13.20K $8.148K
YoY Change -2.37% 61.98% 54.17%
% of Gross Profit
Operating Expenses $4.814M $6.238M $4.292M
YoY Change -1.69% 45.33% 22.33%
Operating Profit -$4.814M -$6.238M -$4.292M
YoY Change -1.69% 45.33% 22.33%
Interest Expense $150.0K $730.0K -$1.180M
YoY Change -54.55% -161.86% 247.06%
% of Operating Profit
Other Income/Expense, Net $92.76K $117.9K $61.93K
YoY Change 1804.23% 90.43% 89.05%
Pretax Income -$4.569M -$5.386M -$5.410M
YoY Change 0.23% -0.44% 41.96%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.569M -$5.386M -$5.410M
YoY Change 0.23% -0.44% 41.96%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$55.15K -$65.05K -$71.15K
COMMON SHARES
Basic Shares Outstanding 82.87M shares 82.88M shares 81.44M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.00M $52.50M $71.50M
YoY Change -28.78% -26.57% 235.68%
Cash & Equivalents $18.72M $22.23M $41.32M
Short-Term Investments $29.30M $30.20M $30.20M
Other Short-Term Assets $600.0K $1.000M $4.400M
YoY Change -25.0% -77.27% 388.89%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $48.67M $53.48M $75.97M
YoY Change -28.7% -29.61% 242.7%
LONG-TERM ASSETS
Property, Plant & Equipment $258.5K $178.4K $71.14K
YoY Change 308.44% 150.71% 35.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change
Total Long-Term Assets $267.4K $187.2K $80.03K
YoY Change 270.46% 133.97% 30.05%
TOTAL ASSETS
Total Short-Term Assets $48.67M $53.48M $75.97M
Total Long-Term Assets $267.4K $187.2K $80.03K
Total Assets $48.94M $53.67M $76.05M
YoY Change -28.38% -29.43% 242.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $707.3K $1.251M $1.051M
YoY Change -46.27% 19.13% 12.7%
Accrued Expenses $1.598M $1.412M $4.800M
YoY Change 33.18% -70.58% 219.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.305M $2.664M $5.849M
YoY Change -9.7% -54.46% 140.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $500.0K $3.600M
YoY Change -90.0% -86.11% 63.64%
Total Long-Term Liabilities $300.0K $500.0K $3.600M
YoY Change -90.0% -86.11% 63.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.305M $2.664M $5.849M
Total Long-Term Liabilities $300.0K $500.0K $3.600M
Total Liabilities $2.616M $3.129M $9.427M
YoY Change -52.83% -66.81% 105.33%
SHAREHOLDERS EQUITY
Retained Earnings -$100.0M -$95.46M -$75.25M
YoY Change 25.33% 26.85% 29.42%
Common Stock $82.87K $82.87K $82.01K
YoY Change 0.94% 1.05% 51.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.33M $50.54M $66.62M
YoY Change
Total Liabilities & Shareholders Equity $48.94M $53.67M $76.05M
YoY Change -28.38% -29.43% 242.11%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$4.569M -$5.386M -$5.410M
YoY Change 0.23% -0.44% 41.96%
Depreciation, Depletion And Amortization $8.762K $13.20K $8.148K
YoY Change -2.37% 61.98% 54.17%
Cash From Operating Activities -$4.340M -$5.930M -$3.790M
YoY Change 2.12% 56.46% 55.97%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K $0.00 $7.910K
YoY Change -100.0% -54.29%
Acquisitions
YoY Change
Other Investing Activities $930.0K -$70.00K -$40.00K
YoY Change 2225.0% 75.0% -103.13%
Cash From Investing Activities $840.0K -$70.00K -$40.00K
YoY Change 2700.0% 75.0% -103.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -10.00K 36.06M
YoY Change -100.0% -100.03% 180200.0%
NET CHANGE
Cash From Operating Activities -4.340M -5.930M -3.790M
Cash From Investing Activities 840.0K -70.00K -40.00K
Cash From Financing Activities 0.000 -10.00K 36.06M
Net Change In Cash -3.500M -6.010M 32.23M
YoY Change -14.63% -118.65% -2927.19%
FREE CASH FLOW
Cash From Operating Activities -$4.340M -$5.930M -$3.790M
Capital Expenditures -$90.00K $0.00 $7.910K
Free Cash Flow -$4.250M -$5.930M -$3.798M
YoY Change 0.0% 56.14% 55.19%

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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="8%" align="left"><b>1.</b></td> <td valign="top" align="left"><b>Organization and Description of Business.</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> Catalyst Pharmaceuticals, Inc. (the Company) is a development-stage biopharmaceutical company focused on developing and commercializing innovating therapies for people with rare debilitating diseases, including Lambert-Eaton Myasthenic Syndrome (LEMS), Congenital Myasthenic Syndromes (CMS), infantile spasms and Tourette&#x2019;s Disorder.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> Since inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company&#x2019;s primary focus is on the development and commercialization of its drug candidates. The Company has incurred operating losses in each period from inception through March 31, 2016.&#xA0;The Company has been able to fund its cash needs to date through several public and private offerings of its common stock and warrants, through government grants, and through an investment by a strategic purchaser. See Note 9.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Capital Resources</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> On January 31, 2014, the Company filed a Shelf Registration Statement on Form S-3 (the 2014 Shelf Registration Statement) with the U.S. Securities Exchange Commission (SEC) to sell up to $100 million of common stock. This registration statement (file No. 333-193699) was declared effective by the SEC on March 19, 2014. The Company has conducted two registered direct offerings under the 2014 Shelf Registration Statement. See Note 9.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> While there can be no assurance, based on currently available information, the Company estimates that it has sufficient resources to support its operations for at least the next year.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> The Company may raise required funds through public or private equity offerings, debt financings, corporate collaborations, governmental research grants or other means. The Company may also seek to raise new capital to fund additional product development efforts, even if it has sufficient funds for its planned operations. Any sale by the Company of additional equity or convertible debt securities could result in dilution to the Company&#x2019;s current stockholders. There can be no assurance that any such required additional funding will be available to the Company at all or available on terms acceptable to the Company. Further, to the extent that the Company raises additional funds through collaborative arrangements, it may be necessary to relinquish some rights to the Company&#x2019;s drug candidates or grant sublicenses on terms that are not favorable to the Company. If the Company is not able to secure additional funding when needed, the Company may have to delay, reduce the scope of, or eliminate one or more research and development programs, which could have an adverse effect on the Company&#x2019;s business.</p> </div>
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6805997 shares
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001369568
CY2016Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.47
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2016Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
65201
CY2016Q1 dei Trading Symbol
TradingSymbol
CPRX
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
82860083 shares
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-5386237
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11265
CY2016Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-11265
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
CATALYST PHARMACEUTICALS, INC.
CY2016Q1 us-gaap Revenues
Revenues
0
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-480846
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6237536
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
117943
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
439206
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><b>b.</b> <table> <tr> <td valign="top" align="left"><b>USE OF ESTIMATES.</b><b>&#xA0;</b>The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.&#xA0;Actual results could differ from those estimates.</td> </tr> </table> </div>
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5386237
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
18763
CY2016Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
457969
CY2016Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-733356
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6007054
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
6237536
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-65571
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-11265
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3546391
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-219984
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2691145
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-542654
CY2016Q1 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
ProceedsFromPaymentsForInInterestBearingDepositsInBanks
-370
CY2016Q1 us-gaap Depreciation
Depreciation
13198
CY2016Q1 cprx Maximum Maturity Period Of Cash And Cash Equivalent
MaximumMaturityPeriodOfCashAndCashEquivalent
Three months
CY2016Q1 cprx Number Of Offerings Under Shelf Registration
NumberOfOfferingsUnderShelfRegistration
2 Offerings
CY2016Q1 cprx Number Of Warrants Exercised
NumberOfWarrantsExercised
0 shares

Files In Submission

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0001193125-16-585609-index-headers.html Edgar Link pending
0001193125-16-585609-index.html Edgar Link pending
0001193125-16-585609.txt Edgar Link pending
0001193125-16-585609-xbrl.zip Edgar Link pending
cprx-20160331.xml Edgar Link completed
cprx-20160331.xsd Edgar Link pending
cprx-20160331_cal.xml Edgar Link unprocessable
cprx-20160331_def.xml Edgar Link unprocessable
cprx-20160331_lab.xml Edgar Link unprocessable
cprx-20160331_pre.xml Edgar Link unprocessable
d177055d10q.htm Edgar Link pending
d177055dex311.htm Edgar Link pending
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