CATALYST PHARMACEUTICALS, INC. [CPRX] has reported a net loss of $71,410.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $398.2 thousand
Based in CORAL GABLES, Florida, CATALYST PHARMACEUTICALS, INC. operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, the company reported total revenues of $398.2 million, a significant increase compared to $214.2 million in the same period in 2022 and $140.8 million in 2021.
Cost of sales for the period was $52.0 million, higher than the $34.4 million in 2022 and $21.9 million in 2021. Research and development expenses were $93.2 million, up from $19.8 million in the previous year. Selling, general, and administrative expenses amounted to $133.7 million, compared to $57.1 million in 2022.
The operating income for the current period was $86.8 million, a decrease from $101.8 million in 2022 but higher than the $52.4 million reported in 2021. Other income stood at $7.7 million, showing an increase from $2.9 million in the previous year.
Net income before income taxes was $94.5 million for 2023, lower than the $104.7 million recorded in 2022 but higher than the $52.7 million in 2021. The income tax provision for the current period was $23.1 million, compared to $21.6 million in the previous year.
The net income for the period was $71.4 million, a decrease from $83.1 million in 2022 and an increase from $39.5 million in 2021. Basic earnings per share for the current period were $0.67, down from $0.80 in 2022. Diluted earnings per share were $0.63, compared to $0.75 in the previous year.
The weighted average shares outstanding for basic and diluted earnings were 106.3 million and 113.8 million, respectively, in 2023, showing slight increases from the previous year's figures.
Additionally, the company reported comprehensive income of $71.4 million for 2023, higher than the $83.3 million in 2022 and $39.3 million in 2021. Unrealized gain (loss) on available-for-sale securities contributed to the comprehensive income figures.
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