Catalyst: 3Q Earnings Snapshot
CORAL GABLES, Fla. (AP) _ Catalyst Pharmaceutical Partners Inc. (CPRX) on Tuesday reported third-quarter net income of $13.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Coral Gables, Florida-based company said it had profit of 13 cents.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The specialty drug company posted revenue of $30.9 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $33.8 million.
Catalyst expects full-year revenue of $100 million.
In the final minutes of trading on Tuesday, the company’s shares hit $4.91. A year ago, they were trading at $2.77.