Molly Harper, a director at Catalyst Pharmaceuticals , Inc. (NASDAQ:CPRX), a company currently valued at $2.63 billion with an EXCELLENT financial health rating according to InvestingPro, reported a significant stock sale in a recent SEC filing. On November 27, Harper sold 17,500 shares of common stock at a price of $22.00 per share, amounting to a total transaction value of $385,000. This sale was carried out on the open market for personal reasons and to fund the exercise price of stock options, as noted in the filing.
In addition to the sale, Harper also exercised options to acquire 17,500 shares at a price of $5.78 per share, totaling $101,150. Following these transactions, Harper holds 134,020 shares directly. The stock transactions reflect Harper's strategic financial decisions without indicating any disagreement with the company.
In other recent news, Catalyst Pharmaceuticals posted impressive Q3 results, with a significant 25.3% year-over-year increase in revenues to $128.7 million. This revenue boost was primarily fueled by strong sales of FIRDAPSE and AGAMREE. The company has also revised its full-year revenue guidance upwards to between $475 million and $485 million, indicating confidence in ongoing product demand.
Catalyst Pharmaceuticals has been making strides in its strategic growth initiatives, with an emphasis on international expansion and patient care in the rare disease sector. The company also reported a robust cash position of $442.3 million, which further underscores its financial health. FIRDAPSE has been approved in Japan, and AGAMREE is currently seeking approval in Canada, marking the company's efforts to widen its global footprint.
The company's R&D expenses were down to $3.3 million, while SG&A expenses rose to $45.9 million due to the launch of AGAMREE. Despite the challenges, Catalyst Pharmaceuticals remains committed to operational excellence and strategic growth, as evidenced by its ongoing clinical initiatives and updated revenue guidance. These recent developments are a testament to Catalyst Pharmaceuticals' strong performance and growth trajectory.
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