$CPRX
Catalyst Pharmaceuticals Inc

2024 Q1 Form 10-K Financial Statement

#000119312524050908 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $98.51M $110.6M $398.2M
YoY Change 15.4% 81.98% 85.9%
Cost Of Revenue $12.52M $15.81M $51.97M
YoY Change 25.88% 41.21% 51.1%
Gross Profit $85.99M $94.76M $346.2M
YoY Change 14.01% 91.19% 92.56%
Gross Profit Margin 87.29% 85.7% 86.95%
Selling, General & Admin $46.94M $42.04M $133.7M
YoY Change 57.94% 186.58% 129.81%
% of Gross Profit 54.59% 44.36% 38.62%
Research & Development $2.581M $1.972M $93.15M
YoY Change -27.54% -51.82% 370.72%
% of Gross Profit 3.0% 2.08% 26.9%
Depreciation & Amortization $86.00K $9.143M $316.0K
YoY Change 24.64% 1386.67% 124.11%
% of Gross Profit 0.1% 9.65% 0.09%
Operating Expenses $49.52M $53.07M $226.9M
YoY Change 48.8% 182.86% 190.95%
Operating Profit $27.13M $41.69M $86.81M
YoY Change -23.82% 35.36% -14.75%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.963M $5.015M $7.699M
YoY Change 15.2% 127.23% 167.23%
Pretax Income $29.09M $46.71M $94.51M
YoY Change -22.04% 41.5% -9.75%
Income Tax $5.814M $11.86M $23.10M
% Of Pretax Income 19.99% 25.4% 24.44%
Net Earnings $23.28M $34.84M $71.41M
YoY Change -21.28% 36.8% -14.05%
Net Earnings / Revenue 23.63% 31.51% 17.93%
Basic Earnings Per Share $0.20 $0.67
Diluted Earnings Per Share $0.19 $0.31 $0.63
COMMON SHARES
Basic Shares Outstanding 117.9M 106.6M 106.3M
Diluted Shares Outstanding 123.4M 113.8M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $310.4M $137.6M $137.6M
YoY Change 109.39% -53.87% -53.87%
Cash & Equivalents $310.4M $137.6M $137.6M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $13.75M $12.54M $12.54M
YoY Change 98.23% 143.02% 143.02%
Inventory $19.95M $15.64M $15.64M
Prepaid Expenses
Receivables $60.49M $53.51M $53.51M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $404.6M $219.3M $219.3M
YoY Change 103.41% -31.63% -31.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.308M $1.195M $3.703M
YoY Change 1.79% 41.09% 2.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.35M $16.49M $16.49M
YoY Change
Other Assets $38.28M $36.54M $36.54M
YoY Change 89.09% 94.95% 94.95%
Total Long-Term Assets $242.1M $250.8M $250.8M
YoY Change 16.21% 357.36% 357.36%
TOTAL ASSETS
Total Short-Term Assets $404.6M $219.3M $219.3M
Total Long-Term Assets $242.1M $250.8M $250.8M
Total Assets $646.7M $470.1M $470.1M
YoY Change 58.8% 25.15% 25.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.26M $14.80M $14.80M
YoY Change 202.6% 272.2% 272.2%
Accrued Expenses $69.31M $61.27M $47.53M
YoY Change 29.98% 14.28% 50.68%
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 $79.57M $76.06M $76.06M
YoY Change 40.31% 32.08% 32.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.607M $2.982M $6.170M
YoY Change -80.53% -78.8% -64.98%
Total Long-Term Liabilities $2.607M $2.982M $6.170M
YoY Change -80.53% -78.8% -64.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.57M $76.06M $76.06M
Total Long-Term Liabilities $2.607M $2.982M $6.170M
Total Liabilities $85.26M $82.23M $82.23M
YoY Change 15.9% 9.34% 9.34%
SHAREHOLDERS EQUITY
Retained Earnings $144.5M $121.3M
YoY Change 81.98% 143.22%
Common Stock $118.0K $107.0K
YoY Change 11.32% 1.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $561.4M $387.9M $387.9M
YoY Change
Total Liabilities & Shareholders Equity $646.7M $470.1M $470.1M
YoY Change 58.8% 25.15% 25.15%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $23.28M $34.84M $71.41M
YoY Change -21.28% 36.8% -14.05%
Depreciation, Depletion And Amortization $86.00K $9.143M $316.0K
YoY Change 24.64% 1386.67% 124.11%
Cash From Operating Activities $31.93M $55.65M $143.6M
YoY Change 164.5% 38.85% 23.74%
INVESTING ACTIVITIES
Capital Expenditures $199.0K $93.00K $231.0K
YoY Change 168.92% 696.55%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$38.23M -$293.3M
YoY Change -100.0% -3274.62%
Cash From Investing Activities -$199.0K -$38.32M -$293.5M
YoY Change -99.88% -3287.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 141.0M -665.0K -10.86M
YoY Change 94563.76% -129.52% -740.91%
NET CHANGE
Cash From Operating Activities 31.93M 55.65M 143.6M
Cash From Investing Activities -199.0K -38.32M -293.5M
Cash From Financing Activities 141.0M -665.0K -10.86M
Net Change In Cash 172.8M 16.66M -160.8M
YoY Change -215.07% -60.63% -226.63%
FREE CASH FLOW
Cash From Operating Activities $31.93M $55.65M $143.6M
Capital Expenditures $199.0K $93.00K $231.0K
Free Cash Flow $31.73M $55.55M $143.4M
YoY Change 164.47% 38.62% 23.57%

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7907000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
6073000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32565000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1098000
CY2023 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
17818000
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-4937000
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-9316000
CY2023 cprx Accretion Of Discount
AccretionOfDiscount
-1320000
CY2022 cprx Accretion Of Discount
AccretionOfDiscount
-17000
CY2021 cprx Accretion Of Discount
AccretionOfDiscount
5000
CY2023 cprx Non Cash Change In Right Of Use Asset
NonCashChangeInRightOfUseAsset
262000
CY2022 cprx Non Cash Change In Right Of Use Asset
NonCashChangeInRightOfUseAsset
247000
CY2021 cprx Non Cash Change In Right Of Use Asset
NonCashChangeInRightOfUseAsset
292000
CY2022 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
762000
CY2022 cprx Acquired Research And Development Inventory Expenses From Asset Acquisition
AcquiredResearchAndDevelopmentInventoryExpensesFromAssetAcquisition
4130000
CY2023 cprx Acquired Inventory Samples Expensed From Asset Acquisition
AcquiredInventorySamplesExpensedFromAssetAcquisition
130000
CY2023 cprx Acquired In Process Research And Development
AcquiredInProcessResearchAndDevelopment
81513000
CY2023 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
3024000
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
43075000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3820000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
632000
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4739000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1065000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3219000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5792000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
807000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3977000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10820000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1207000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1488000
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5800000
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
16391000
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5520000
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-338000
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-307000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
864000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
143600000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
116047000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
60372000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
231000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1021000
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10000000
CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
19238000
CY2023 cprx Payment In Connection With Asset Acquisition
PaymentInConnectionWithAssetAcquisition
198293000
CY2022 cprx Payment In Connection With Asset Acquisition
PaymentInConnectionWithAssetAcquisition
10000000
CY2023 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
81513000
CY2023 us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
13465000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-293502000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9209000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11021000
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
982000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
230000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
153000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2792000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9569000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4099000
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6907000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12089000
CY2023 cprx Payment Of Liabilities Arising From Asset Acquisition
PaymentOfLiabilitiesArisingFromAssetAcquisition
12667000
CY2022 cprx Payment Of Liabilities Arising From Asset Acquisition
PaymentOfLiabilitiesArisingFromAssetAcquisition
738000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10857000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1694000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8143000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-160759000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
126950000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
41208000
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
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130237000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
137636000
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
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
50458000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
7667000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
3000000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
705000
CY2021 cprx Operating Lease Liabilities Arising From Obtaining Right Of Use Assets
OperatingLeaseLiabilitiesArisingFromObtainingRightOfUseAssets
3309000
CY2023 cprx Liabilities Arising From Asset Acquisition
LiabilitiesArisingFromAssetAcquisition
1915000
CY2022 cprx Liabilities Arising From Asset Acquisition
LiabilitiesArisingFromAssetAcquisition
27699000
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="border: 0px currentColor; border-image: none; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse;;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top;;text-align:left;"><div style="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="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="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"></div></div> <div style="clear:both;max-height:0pt;;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;;text-indent: 0px;"></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Catalyst Pharmaceuticals, Inc. and subsidiary (collectively, the Company) is a commercial-stage, patient-centric biopharmaceutical company focused on <div style="white-space:nowrap;display:inline;">in-licensing,</div> developing, and commercializing novel high-quality medicines for patients living with rare and difficult to treat diseases. The Company utilizes concerted diligence efforts in search of therapies that will improve the lives of those who suffer from rare or difficult to treat diseases. With an unwavering patient focus embedded in everything the Company does, it is committed to providing innovative, <div style="white-space:nowrap;display:inline;"><div style="white-space:nowrap;display:inline;">best-in-class</div></div> medications with the hope of making a meaningful impact on those affected by these conditions. </div> <div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company’s New Drug Application (NDA) 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. In the third quarter of 2022, the FDA approved the Company’s supplemental New Drug Application 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 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 began 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="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In July 2023, the Company completed its acquisition from Santhera Pharmaceuticals Holdings (Santhera) of an exclusive license for North America for AGAMREE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div><div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px"> </div>(vamorolone), a treatment for patients suffering with Duchenne Muscular Dystrophy (DMD). The license is for exclusive commercial rights in the U.S., Canada, and Mexico, as well as the right of first negotiation in Europe and Japan should Santhera pursue partnership opportunities in those jurisdictions. Additionally, the Company will hold North American rights for any future approved indications of AGAMREE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div>. AGAMREE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div><div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px"> </div>has previously received FDA Orphan Drug and Fast Track designations. On October 26, 2023, AGAMREE<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div> was approved by the FDA for commercialization in the U.S. </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;;text-indent: 0px;;display:inline;"><div style="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 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> <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="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. Subsequent to <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">year-end,</div> on January 9, 2024, the Company completed a public offering of 10 million shares of its common stock, raising net proceeds of approximately $140.1 million. The proceeds of the offering will be used to potentially acquire new products and for general corporate purposes.<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><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;">See Note 18 (Subsequent Events). </div></div></div> <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><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 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;">The Company is subject to risks and adversities that could affect its business in unforeseen ways. </div></div></div>
CY2023 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%"> <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;">b.</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>
CY2023 cprx Maximum Maturity Period Of Cash And Cash Equivalent
MaximumMaturityPeriodOfCashAndCashEquivalent
three months
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2023Q3 cprx Asset Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
AssetAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
1414688
CY2023Q3 cprx Asset Acquisition Percentage Of Outstanding Ordinary Shares
AssetAcquisitionPercentageOfOutstandingOrdinaryShares
0.1126
CY2023Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
16489000
CY2023 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;">n.</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>
CY2023 cprx Maximum Amortization Period Of Compensation Cost On Straight Line Basis
MaximumAmortizationPeriodOfCompensationCostOnStraightLineBasis
P3Y
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border: 0px; width: 100%; border-spacing: 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;">s.</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, 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="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;"></div></div> <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;"></div></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="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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 related to this product. The Company sells its product, FYCOMPA<div style="font-size: 75%; vertical-align: top;;display:inline;;font-size:8.3px">®</div> through a Transition Service Agreement with Eisai to major wholesalers, specialty pharmaceutical distributors, managed care organizations, and government agencies. Therefore, Eisai accounts for principally all of its trade receivables and net product revenues related to this product. The creditworthiness of its customers 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 customers, historical payment patterns, aging of receivable balances and general economic conditions. </div></div></div> <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;"> </div></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;;text-indent: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">As of December 31, 2023, the Company had three FDA approved 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®. The Company expects FIRDAPSE® and the recently acquired products FYCOMPA® and AGAMREE® to constitute virtually all of the Company’s product revenue for the foreseeable future. </div> </div></div></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;;text-indent: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">The Company relies exclusively on third parties to formulate and manufacture FIRDAPSE®, FYCOMPA®, AGAMREE® and any future drug candidates. The commercialization of FIRDAPSE®, FYCOMPA®, AGAMREE® 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®. It also relies on Eisai as its sole source of supply for FYCOMPA® and on Santhera as its sole source of supply for AGAMREE®. 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>
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106279736
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103374606
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103379349
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7473418
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8001025
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4416236
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113753154
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111375631
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107795585
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4500000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4300000
CY2023 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.79
CY2023 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
7.1
CY2022 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.79
CY2022 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
7.07
CY2021 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.79
CY2021 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
4.64
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border: 0px; width: 100%; text-indent: 0px; border-spacing: 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;">y.</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>
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1262000
CY2023Q4 us-gaap Inventory Net
InventoryNet
15644000
CY2022Q4 us-gaap Inventory Net
InventoryNet
6805000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
94523000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
18000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
0
CY2023Q4 cprx Amortized Cost Before Unrealized Gains And Losses
AmortizedCostBeforeUnrealizedGainsAndLosses
94505000
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
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
762000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
94523000
CY2023 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
3024000
CY2022 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
0
CY2021 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
0
CY2023 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
3024000
CY2022 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0
CY2021 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-148000
CY2022 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
590000
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-762000
CY2022 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
172000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
24000
CY2023 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
10000
CY2023 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-10000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
14000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1910000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
0
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4573000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
5543000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9161000
CY2023Q4 cprx Prepaid Manufacturing Expense
PrepaidManufacturingExpense
2005000
CY2022Q4 cprx Prepaid Manufacturing Expense
PrepaidManufacturingExpense
1147000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
1238000
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
44000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1332000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1224000
CY2023Q4 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
1299000
CY2022Q4 cprx Prepaid Subscription Fees
PrepaidSubscriptionFees
808000
CY2023Q4 cprx Prepaid Research Fee
PrepaidResearchFee
1500000
CY2022Q4 cprx Prepaid Research Fee
PrepaidResearchFee
178000
CY2023Q4 cprx Prepaid Commercial Expenses
PrepaidCommercialExpenses
3038000
CY2022Q4 cprx Prepaid Commercial Expenses
PrepaidCommercialExpenses
592000
CY2023Q4 cprx Due From Collaborative And Licencing Arrangements
DueFromCollaborativeAndLicencingArrangements
138000
CY2022Q4 cprx Due From Collaborative And Licencing Arrangements
DueFromCollaborativeAndLicencingArrangements
354000
CY2023Q4 cprx Prepaid Conference And Travel Expenses
PrepaidConferenceAndTravelExpenses
771000
CY2022Q4 cprx Prepaid Conference And Travel Expenses
PrepaidConferenceAndTravelExpenses
234000
CY2023Q4 cprx Prepaid Copay Assistance Program
PrepaidCopayAssistanceProgram
863000
CY2022Q4 cprx Prepaid Copay Assistance Program
PrepaidCopayAssistanceProgram
97000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
351000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
489000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12535000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5167000
CY2023 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
5 years
CY2023Q4 cprx Operating Lease Liability Under Finance Leases
OperatingLeaseLiabilityUnderFinanceLeases
0
CY2023 cprx Before Agreement Of Company Leased Spaces
BeforeAgreementOfCompanyLeasedSpaces
7800
CY2023 cprx After Agreement Of Company Leased Spaces
AfterAgreementOfCompanyLeasedSpaces
10700
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
431000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
431000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
506000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
492000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
89000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
89000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2508000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2770000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
369000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
337000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3188000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3557000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3557000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3894000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0451
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0451
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
522000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
537000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
553000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
570000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
587000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1440000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4209000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
652000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3557000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
723000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
406000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1195000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
847000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
227712000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
33663000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
194049000
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
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
37378000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
37378000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
37378000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
37378000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7705000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
36832000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
194049000
CY2023Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P6Y6M
CY2022Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P14Y
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q4 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
1015000
CY2022Q4 cprx Accrued Non Clinical And Clinical Trial Expenses
AccruedNonClinicalAndClinicalTrialExpenses
479000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4730000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1619000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8883000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5132000
CY2023Q4 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
24437000
CY2022Q4 cprx Accrued License Fees Current
AccruedLicenseFeesCurrent
20444000
CY2023Q4 cprx Accrued Purchases Current
AccruedPurchasesCurrent
192000
CY2022Q4 cprx Accrued Purchases Current
AccruedPurchasesCurrent
154000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
369000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
337000
CY2023Q4 cprx Accrued Variable Consideration
AccruedVariableConsideration
6877000
CY2022Q4 cprx Accrued Variable Consideration
AccruedVariableConsideration
3381000
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
729000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
8702000
CY2023Q4 cprx Asset Acquisation Due To Licensor Current
AssetAcquisationDueToLicensorCurrent
12540000
CY2022Q4 cprx Asset Acquisation Due To Licensor Current
AssetAcquisationDueToLicensorCurrent
13127000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1031000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
0
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
465000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
238000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
61268000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
53613000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3188000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3557000
CY2023Q4 cprx Asset Acquisation Due To Licensor Noncurrent
AssetAcquisationDueToLicensorNoncurrent
2497000
CY2022Q4 cprx Asset Acquisation Due To Licensor Noncurrent
AssetAcquisationDueToLicensorNoncurrent
14064000
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
485000
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
0
CY2023Q4 cprx Other Noncurrent Accrued Expenses And Other Liabilities
OtherNoncurrentAccruedExpensesAndOtherLiabilities
6170000
CY2022Q4 cprx Other Noncurrent Accrued Expenses And Other Liabilities
OtherNoncurrentAccruedExpensesAndOtherLiabilities
17621000
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
67438000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
71234000
CY2022Q3 cprx License And Asset Purchase Agreement Payment
LicenseAndAssetPurchaseAgreementPayment
10000000
CY2023Q3 cprx License And Asset Purchase Agreement Payment
LicenseAndAssetPurchaseAgreementPayment
10000000
CY2023Q1 cprx Number Of Trading Days From Receipt Of The Notice Letter
NumberOfTradingDaysFromReceiptOfTheNoticeLetter
P45D
CY2023 cprx Percentage Of Royalty Payable To Net Sales
PercentageOfRoyaltyPayableToNetSales
0.035
CY2022 cprx Effective Income Tax Credits Rate
EffectiveIncomeTaxCreditsRate
-0.019
CY2021 cprx Effective Income Tax Credits Rate
EffectiveIncomeTaxCreditsRate
-0.006
CY2023 cprx Effective Income Tax Rate Reconciliation Windfall Adjustments
EffectiveIncomeTaxRateReconciliationWindfallAdjustments
-0.044
CY2022 cprx Effective Income Tax Rate Reconciliation Windfall Adjustments
EffectiveIncomeTaxRateReconciliationWindfallAdjustments
-0.056
CY2021 cprx Effective Income Tax Rate Reconciliation Windfall Adjustments
EffectiveIncomeTaxRateReconciliationWindfallAdjustments
-0.006
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.021
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.005
CY2023 cprx Asset Acquisition Consideration Transferred Investments
AssetAcquisitionConsiderationTransferredInvestments
13465000
CY2023 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
94978000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
34975000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
12858000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2455000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5931000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3877000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1414000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-16093000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
4739000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
8620000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1712000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
166000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
696000
CY2023 us-gaap Income Tax Expense Benefit
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