$CPRX
Catalyst Pharmaceuticals Inc

2023 Q3 Form 10-Q Financial Statement

#000119312523207344 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $102.7M $99.58M $53.11M
YoY Change 79.39% 87.49% 46.06%
Cost Of Revenue $14.17M $12.05M $7.643M
YoY Change 46.58% 57.6% 68.16%
Gross Profit $88.52M $87.54M $45.47M
YoY Change 86.05% 92.52% 42.9%
Gross Profit Margin 86.2% 87.9% 85.61%
Selling, General & Admin $33.56M $28.40M $12.92M
YoY Change 136.89% 119.82% 12.02%
% of Gross Profit 37.91% 32.44% 28.41%
Research & Development $83.66M $3.954M $3.983M
YoY Change 906.76% -0.73% -10.49%
% of Gross Profit 94.51% 4.52% 8.76%
Depreciation & Amortization $8.500M $8.570M $37.00K
YoY Change 1437.07% 23062.16% 32.14%
% of Gross Profit 9.6% 9.79% 0.08%
Operating Expenses $117.2M $32.35M $16.90M
YoY Change 421.52% 91.41% 5.75%
Operating Profit -$37.19M $46.70M $28.57M
YoY Change -248.15% 63.46% 80.38%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$833.0K $1.813M -$324.0K
YoY Change -192.04% -659.57% -622.58%
Pretax Income -$38.02M $48.51M $28.25M
YoY Change -246.2% 71.75% 77.64%
Income Tax -$7.257M $10.75M $6.626M
% Of Pretax Income 22.16% 23.46%
Net Earnings -$30.76M $37.76M $21.62M
YoY Change -235.24% 74.67% 77.48%
Net Earnings / Revenue -29.96% 37.92% 40.7%
Basic Earnings Per Share -$0.29 $0.36 $0.21
Diluted Earnings Per Share -$0.29 $0.33 $197.9K
COMMON SHARES
Basic Shares Outstanding 106.6M 106.1M 102.8M
Diluted Shares Outstanding 106.6M 113.7M 109.3M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.0M $178.8M $220.8M
YoY Change -52.75% -19.02% 42.19%
Cash & Equivalents $121.0M $178.8M $210.9M
Short-Term Investments $9.876M
Other Short-Term Assets $14.00M $8.634M $4.333M
YoY Change 270.76% 99.26% -43.29%
Inventory $9.035M $10.75M $7.850M
Prepaid Expenses
Receivables $48.05M $42.80M $9.587M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $192.0M $241.0M $242.6M
YoY Change -30.51% -0.66% 37.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.186M $1.203M $3.812M
YoY Change 34.47% -68.44% -7.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.90M
YoY Change
Other Assets $37.40M $23.49M $20.94M
YoY Change 86.65% 12.18% -27.07%
Total Long-Term Assets $221.2M $202.9M $24.75M
YoY Change 289.4% 719.88% -24.6%
TOTAL ASSETS
Total Short-Term Assets $192.0M $241.0M $242.6M
Total Long-Term Assets $221.2M $202.9M $24.75M
Total Assets $413.2M $443.9M $267.3M
YoY Change 24.04% 66.06% 27.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.598M $4.421M $2.315M
YoY Change 81.81% 90.97% -20.83%
Accrued Expenses $53.21M $48.08M $18.09M
YoY Change 26.23% 165.82% 38.09%
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 $57.81M $52.50M $22.49M
YoY Change 29.37% 133.47% 39.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.575M $12.72M $3.729M
YoY Change -75.76% 241.19% -7.95%
Total Long-Term Liabilities $3.575M $12.72M $3.729M
YoY Change -75.76% 241.19% -7.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.81M $52.50M $22.49M
Total Long-Term Liabilities $3.575M $12.72M $3.729M
Total Liabilities $64.66M $68.60M $26.22M
YoY Change 2.52% 161.67% 29.88%
SHAREHOLDERS EQUITY
Retained Earnings $86.43M $117.2M
YoY Change 254.34%
Common Stock $107.0K $107.0K
YoY Change 2.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $348.5M $375.3M $241.1M
YoY Change
Total Liabilities & Shareholders Equity $413.2M $443.9M $267.3M
YoY Change 24.04% 66.06% 27.82%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$30.76M $37.76M $21.62M
YoY Change -235.24% 74.67% 77.48%
Depreciation, Depletion And Amortization $8.500M $8.570M $37.00K
YoY Change 1437.07% 23062.16% 32.14%
Cash From Operating Activities $45.20M $30.75M $26.19M
YoY Change 9.44% 17.42% 67.05%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$29.00K
YoY Change -100.0% 1350.0%
Acquisitions
YoY Change
Other Investing Activities -$92.70M $0.00 $9.370M
YoY Change 70127.27% -100.0% -334.25%
Cash From Investing Activities -$92.80M $0.00 $9.341M
YoY Change 70203.03% -100.0% -333.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$2.972M
YoY Change -19.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.10M -214.0K -2.992M
YoY Change -353.51% -92.85% -19.33%
NET CHANGE
Cash From Operating Activities 45.20M 30.75M 26.19M
Cash From Investing Activities -92.80M 0.000 9.341M
Cash From Financing Activities -10.10M -214.0K -2.992M
Net Change In Cash -57.70M 30.54M 32.54M
YoY Change -227.79% -6.15% 308.38%
FREE CASH FLOW
Cash From Operating Activities $45.20M $30.75M $26.19M
Capital Expenditures $0.00 $0.00 -$29.00K
Free Cash Flow $45.20M $30.75M $26.22M
YoY Change 9.44% 17.29% 67.21%

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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
206831000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1623000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1102000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
280000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2551000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-305000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
13241000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
220221000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1594000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1282000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
429000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4356000
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-20000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
323000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
21619000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
241092000
us-gaap Profit Loss
ProfitLoss
67330000
us-gaap Profit Loss
ProfitLoss
34860000
us-gaap Depreciation
Depreciation
151000
us-gaap Depreciation
Depreciation
71000
us-gaap Share Based Compensation
ShareBasedCompensation
6190000
us-gaap Share Based Compensation
ShareBasedCompensation
3926000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15019000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
4758000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-2718000
cprx Change In Accrued Interest And Accretion Of Discount On Investments
ChangeInAccruedInterestAndAccretionOfDiscountOnInvestments
-9000
cprx Non Cash Change In Right Of Use Asset
NonCashChangeInRightOfUseAsset
129000
cprx Non Cash Change In Right Of Use Asset
NonCashChangeInRightOfUseAsset
122000
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
633000
cprx Acquired Inventory Samples Expensed From Asset Acquisition
AcquiredInventorySamplesExpensedFromAssetAcquisition
130000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
32357000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2968000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-154000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-20000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1891000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-18000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
446000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-453000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-7553000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4137000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-166000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-150000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42824000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34669000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29000
cprx Payment In Connection With Asset Acquisition
PaymentInConnectionWithAssetAcquisition
162293000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
9370000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-162367000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9341000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
529000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
20000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1887000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2384000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6907000
cprx Payment Of Liabilities Arising From Asset Acquisition
PaymentOfLiabilitiesArisingFromAssetAcquisition
1423000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-65000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4543000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-119608000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
39467000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298395000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
171445000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
178787000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
210912000
us-gaap Income Taxes Paid
IncomeTaxesPaid
27821000
us-gaap Income Taxes Paid
IncomeTaxesPaid
5844000
cprx Liabilities Arising From Asset Acquisition
LiabilitiesArisingFromAssetAcquisition
1915000
us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="border: 0px currentcolor; width: 100%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top;;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td> <td style="vertical-align: top;;text-align:left;"> <div style="text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Organization and Description of Business. </div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Catalyst Pharmaceuticals, Inc. and subsidiary (collectively, the Company) is a commercial-stage biopharmaceutical company focused on <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">in-licensing,</div> developing, and commercializing novel medicines for patients living with rare diseases and diseases that are difficult to treat. With exceptional patient focus, the Company is committed to developing and commercializing innovative <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">first-in-class</div></div> medicines that address rare neurological and epileptic diseases. </div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company’s New Drug Application for FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> (amifampridine) Tablets 10 mg for the treatment of adults with Lambert-Eaton myasthenic syndrome (LEMS) was approved in 2018 by the U.S. Food &amp; Drug Administration (FDA), and FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> is commercially available in the United States as a treatment for adults with LEMS. Further, Canada’s national healthcare regulatory agency, Health Canada, approved the use of FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> for the treatment of adult patients in Canada with LEMS in 2020 and FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> is commercially available in Canada for the treatment of patients with LEMS through a license and supply agreement with KYE Pharmaceuticals. Finally, in the third quarter of 2022, the FDA approved the Company’s sNDA approving an expansion of the FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> label to include pediatric patients (ages six and older). </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On December 17, 2022, the Company entered into an asset purchase agreement with Eisai Co., Ltd. (Eisai) for the acquisition of the United States rights to FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> (perampanel) CIII, a prescription medication used alone or in combination with other medicines to treat focal onset seizures with or without secondarily generalized seizures in people with epilepsy aged four and older and with other medicines to treat primary generalized tonic-clonic seizures in people with epilepsy aged 12 and older. The Company closed the acquisition of FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> on January 24, 2023 and the Company is marketing FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> in the United States. </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Since inception, the Company has devoted substantially all its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets, raising capital, and selling its products. The Company incurred operating losses in each period from inception and started reporting operating income during the year ended December 31, 2019. The Company has been able to fund its cash needs to date through offerings of its securities and from revenues from sales of its products. See Note 15 (Stockholders’ Equity). </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Capital Resources </div></div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Based on forecasts of available cash, the Company believes that it has sufficient resources to support the currently anticipated operations for at least the next 12 months from the date of this report. </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company may raise funds in the future 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 business development activities, 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’s current stockholders. There can be no assurance that any 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’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’s business. </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Risks and Uncertainties </div></div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">There are numerous aspects of the coronavirus <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">(COVID-19)</div> pandemic that have adversely affected the Company’s business since the beginning of the pandemic. The Company closely monitors the impact of the pandemic on all aspects of its business and takes steps, wherever possible, to lessen those impacts. However, the Company is unable to predict the impact that the coronavirus pandemic will have on its business in future periods. </div></div>
us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">c.</div></div></td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">USE OF ESTIMATES.</div></div> 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 consolidated financial statements and accompanying notes. Actual results could differ from those estimates. </div> </td> </tr> </table>
cprx Maximum Maturity Period Of Cash And Cash Equivalent
MaximumMaturityPeriodOfCashAndCashEquivalent
three months
CY2023Q2 us-gaap Long Term Investments
LongTermInvestments
0
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
0
cprx Share Repurchases
ShareRepurchases
<table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">o.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">SHARE REPURCHASES.</div></div> In March 2021, the Company’s Board of Directors approved a share repurchase program that authorizes the repurchase of up to $40 million of the Company’s common stock. </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company accounts for share repurchases by charging the excess of the repurchase price over the repurchased common stock’s par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. The Company may terminate or modify its share repurchase program at any time. </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div>
cprx Maximum Amortization Period Of Compensation Cost On Straight Line Basis
MaximumAmortizationPeriodOfCompensationCostOnStraightLineBasis
P3Y
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">t.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">CONCENTRATION OF RISK. </div></div>The financial instruments that potentially subject the Company to concentration of credit risk are cash equivalents (i.e., money market funds), investments and accounts receivable, net. The Company places its cash and cash equivalents with high-credit quality financial institutions. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in these accounts. </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company sells its product, FIRDAPSE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div>, in the United States through an exclusive distributor (its Customer) to SPs. Therefore, its distributor and SPs account for principally all of its trade receivables and net product revenues. The creditworthiness of its Customer is continuously monitored, and the Company has internal policies regarding customer credit limits. The Company estimates an allowance for expected credit loss primarily based on the credit worthiness of its Customer, historical payment patterns, aging of receivable balances and general economic conditions. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">As of June 30, 2023, the Company had two products, which makes it difficult to evaluate its current business, predict its future prospects, and forecast financial performance and growth. The Company had invested a significant portion of its efforts and financial resources in the development and commercialization of its lead product, FIRDAPSE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div>. The Company expects FIRDAPSE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div> and the recently acquired product FYCOMPA<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div> to constitute virtually all of the Company’s product revenue for the foreseeable future. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company relies exclusively on third parties to formulate and manufacture FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div>, FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> and any future drug candidates. The commercialization of FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div>, FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div>, and any other drug candidates, if approved, could be stopped, delayed or made less profitable if those third parties fail to provide sufficient quantities of product or fail to do so at acceptable quality levels or prices. The Company does not intend to establish its own manufacturing facilities. The Company is using the same third-party contractors to manufacture, supply, store and distribute drug supplies for clinical trials and for the commercialization of FIRDAPSE<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div>. It also relies on Eisai as its sole source of supply for FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div>. If the Company is unable to continue its relationships with one or more of these third-party contractors, it could experience delays in the development or commercialization efforts as it locates and qualifies new manufacturers. The Company intends to rely on one or more third-party contractors to manufacture the commercial supply of its drugs. </div></div></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div>
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106258790
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102795600
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105911936
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102788719
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7414744
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6469130
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7928219
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6360466
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113673534
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109264730
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113840155
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109149185
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
8000
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
19000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">z.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">RECLASSIFICATIONS.</div></div> Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation. </div></td></tr></table>
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
91716000
us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
25000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
0
CY2023Q2 cprx Amortized Cost Before Unrealized Gains And Losses
AmortizedCostBeforeUnrealizedGainsAndLosses
91691000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
105442000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
32000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
0
CY2022Q4 cprx Amortized Cost Before Unrealized Gains And Losses
AmortizedCostBeforeUnrealizedGainsAndLosses
105410000
CY2023Q2 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q2 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-633000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-633000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
91716000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
11000
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
-8000
CY2023Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
24000
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
5000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5000
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
19000
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-453000
CY2022Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
310000
CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-633000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
323000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-130000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-148000
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
615000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-633000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
18000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-130000
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
0
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
0
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4881000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
5543000
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5870000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1262000
CY2023Q2 us-gaap Inventory Net
InventoryNet
10751000
CY2022Q4 us-gaap Inventory Net
InventoryNet
6805000
CY2023Q2 cprx Prepaid Manufacturing Expense
PrepaidManufacturingExpense
2020000
CY2022Q4 cprx Prepaid Manufacturing Expense
PrepaidManufacturingExpense
1147000
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
347000
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
44000
CY2023Q2 us-gaap Prepaid Insurance
PrepaidInsurance
627000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1224000
CY2023Q2 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
1362000
CY2022Q4 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
808000
CY2023Q2 cprx Prepaid Research Fee
PrepaidResearchFee
915000
CY2022Q4 cprx Prepaid Research Fee
PrepaidResearchFee
178000
CY2023Q2 cprx Prepaid Commercial Expenses
PrepaidCommercialExpenses
1699000
CY2022Q4 cprx Prepaid Commercial Expenses
PrepaidCommercialExpenses
592000
CY2023Q2 cprx Due From Collaborative And Licencing Arrangements
DueFromCollaborativeAndLicencingArrangements
179000
CY2022Q4 cprx Due From Collaborative And Licencing Arrangements
DueFromCollaborativeAndLicencingArrangements
354000
CY2023Q2 cprx Prepaid Conference And Travel Expenses
PrepaidConferenceAndTravelExpenses
602000
CY2022Q4 cprx Prepaid Conference And Travel Expenses
PrepaidConferenceAndTravelExpenses
234000
CY2023Q2 cprx Prepaid Copay Assistance Program
PrepaidCopayAssistanceProgram
701000
CY2022Q4 cprx Prepaid Copay Assistance Program
PrepaidCopayAssistanceProgram
97000
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
182000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
489000
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8634000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5167000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
5
CY2023Q2 cprx Operating Lease Liability Under Finance Leases
OperatingLeaseLiabilityUnderFinanceLeases
0
cprx Before Agreement Of Company Leased Spaces
BeforeAgreementOfCompanyLeasedSpaces
7800
cprx After Agreement Of Company Leased Spaces
AfterAgreementOfCompanyLeasedSpaces
10700
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
108000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
108000
us-gaap Operating Lease Cost
OperatingLeaseCost
216000
us-gaap Operating Lease Cost
OperatingLeaseCost
216000
us-gaap Operating Lease Payments
OperatingLeasePayments
252000
us-gaap Operating Lease Payments
OperatingLeasePayments
245000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
45000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
45000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2641000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2770000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
353000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
337000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3376000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3557000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3729000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3894000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0451
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0451
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
255000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
522000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
537000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
553000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
570000
CY2023Q2 cprx Lessee Operating Lease Liabilities Payments Due After Year Four
LesseeOperatingLeaseLiabilitiesPaymentsDueAfterYearFour
2027000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4464000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
735000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3729000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
557000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
406000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1203000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
847000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
191712000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16117000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
175595000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
33569000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1098000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
32471000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
16974000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
33949000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
33949000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33949000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
33949000
CY2023Q2 cprx Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
22825000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
175595000
CY2023Q2 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P6Y2M12D
CY2022Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P14Y
CY2023Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q2 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
1025000
CY2022Q4 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
479000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3641000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1619000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4348000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5132000
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
13026000
CY2022Q4 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
20444000
CY2023Q2 cprx Accrued Purchases Current
AccruedPurchasesCurrent
240000
CY2022Q4 cprx Accrued Purchases Current
AccruedPurchasesCurrent
154000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
353000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
337000
CY2023Q2 cprx Accrued Variable Consideration
AccruedVariableConsideration
7628000
CY2022Q4 cprx Accrued Variable Consideration
AccruedVariableConsideration
3381000
CY2023Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4551000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
8702000
CY2023Q2 cprx Asset Acquisation Due To Licensor Current
AssetAcquisationDueToLicensorCurrent
12815000
CY2022Q4 cprx Asset Acquisation Due To Licensor Current
AssetAcquisationDueToLicensorCurrent
13127000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
455000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
238000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
48082000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
53613000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3376000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3557000
CY2023Q2 cprx Asset Acquisation Due To Licensor Noncurrent
AssetAcquisationDueToLicensorNoncurrent
12723000
CY2022Q4 cprx Asset Acquisation Due To Licensor Noncurrent
AssetAcquisationDueToLicensorNoncurrent
14064000
CY2023Q2 cprx Other Noncurrent Accrued Expenses And Other Liabilities
OtherNoncurrentAccruedExpensesAndOtherLiabilities
16099000
CY2022Q4 cprx Other Noncurrent Accrued Expenses And Other Liabilities
OtherNoncurrentAccruedExpensesAndOtherLiabilities
17621000
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
64181000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
71234000
cprx Period Of Collaboration Agreement
PeriodOfCollaborationAgreement
P10Y
CY2023Q2 cprx Revenue Recognition Method Recognized
RevenueRecognitionMethodRecognized
0
cprx Revenue Recognition Method Recognized
RevenueRecognitionMethodRecognized
0
CY2022Q2 cprx Revenue Recognition Method Recognized
RevenueRecognitionMethodRecognized
0
cprx Revenue Recognition Method Recognized
RevenueRecognitionMethodRecognized
0
CY2023Q1 cprx Number Of Trading Days From Receipt Of The Notice Letter
NumberOfTradingDaysFromReceiptOfTheNoticeLetter
P45D
cprx Percentage Of Royalty Payable To Net Sales
PercentageOfRoyaltyPayableToNetSales
0.035
cprx Purchase Price Consideration For Intangible Assets Acquired
PurchasePriceConsiderationForIntangibleAssetsAcquired
33569000
cprx Acquired Research And Development Inventory Expensed From Asset Acquisition
AcquiredResearchAndDevelopmentInventoryExpensedFromAssetAcquisition
4130000
cprx Asset Acquisition Value
AssetAcquisitionValue
37699000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
106501259
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
106501259
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
105263031
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105263031
CY2023Q2 cprx Number Of Votes Entitlement For Each Share Held By Common Stock Holders
NumberOfVotesEntitlementForEachShareHeldByCommonStockHolders
1
CY2022Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4400000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6900000
CY2022Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
7.26
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
6.91
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3298000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2023000
us-gaap Share Based Compensation
ShareBasedCompensation
6190000
us-gaap Share Based Compensation
ShareBasedCompensation
3926000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12220073
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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