CPRX at a glance
CATALYST PHARMACEUTICALS, INC. (CPRX, SEC CIK 1369568) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on May 11, 2026, an 8-K current report on July 16, 2026 and Form 4 insider filings as recently as July 17, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), CATALYST PHARMACEUTICALS, INC. (CPRX) reported revenue of $589.0 million (up 19.8% from FY2024) and net income of $214.3 million. Diluted EPS was $1.68.
- As of June 30, 2026, 34 institutional investment managers tracked by SignalX reported holding CATALYST PHARMACEUTICALS, INC. (CPRX) shares worth $1.7 billion in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $589.0M
- +19.8% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 34 funds
- $1.7B · +3 vs prior quarter
- Latest 8-K
- Jul 16, 2026
- Item 5.02 · Item 5.03 · Item 3.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Pharmaceutical development and commercialization, primarily focused on therapies for rare neuromuscular diseases
- New emphasis: $200 million share repurchase program initiated October 2025, aimed at returning capital to shareholders
- Strategic shift: Active capital return via stock buybacks after previous years without dividends or repurchases
- Quantitative highlight: Repurchased 1,124,948 shares at average prices $20.74–$23.52 during Q4 2025, with $174.7 million remaining authorization
- Noteworthy fact: Company’s stock outperformed Nasdaq Composite and Biotechnology indices over 5 years, reaching 698.8 vs Nasdaq Biotech’s 124.75 by end 2025
Risk Factors
- Paragraph IV litigation with Hetero USA on FIRDAPSE® patents expiring 2032–2037, trial scheduled March 23, 2026
- Exposure to Most Favored Nation pricing proposals under GUARD and GLOBE Medicare projects, impacting realized drug sale prices
- Reliance on third-party suppliers and contract manufacturers to meet product supply and maintain cGMP compliance
- Generic FYCOMPA® tablets and oral suspension entered market, reducing FYCOMPA® revenue and risking intangible asset impairment
- Dependence on continued sales of FIRDAPSE®, AGAMREE®, and FYCOMPA® with risk from potential generic approvals after orphan exclusivity expiration November 26, 2025
Management Discussion & Analysis
- Revenue $589.0M in 2025, up $97.3M YoY from $491.7M; net product revenue $588.8M vs $489.3M, driven by AGAMREE® launch and FIRDAPSE® volume growth
- Operating margin implied by net income $214.3M (up from $163.9M) on revenues $589.0M, net income margin ~36.4% vs ~33.3% in 2024
- Best segment AGAMREE® up $71.1M to $117.1M, worst FYCOMPA® down $24M to $113.3M due to generic competition
- Cash and cash equivalents $709.2M up from $517.6M; repurchased 1.74M shares for $39.9M in buybacks; no dividend disclosed; R&D stable at $12.7M; SG&A increased to $193.8M from $177.7M
- Management expects FYCOMPA® revenue to decline further with generic entry; 2026 revenues from KYE and DyDo collaborations expected immaterial; ongoing focus on FIRDAPSE® and AGAMREE® growth and potential acquisitions
AI summary of the CPRX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Mar 31, 2026
Risk Factors
- New tariff risk triggered by April 16, 2025 Commerce Department Section 232 pharmaceutical-import probe
- Most materially updated risk: proposed Angelini Pharma merger, with expected third-quarter 2026 closing and $155.5 million potential termination fee
- Regulatory pricing risk from proposed Most Favored Nation drug pricing, with Catalyst not invited to Administration negotiations
- Merger-related litigation risk from potential stockholder class actions delaying or preventing closing
- Supply-chain risk from foreign-sourced AGAMREE ingredients and FYCOMPA supplies through at least 2029
AI summary of the CPRX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- All seven pre-merger directors resigned at the merger’s effective time
- Departures unrelated to disagreements over operations, policies, or practices
Item 5.03: Amendments to Articles of Incorporation or Bylaws
- Certificate of incorporation and bylaws replaced in full at merger effective time
- Amendments align governance documents with Merger Sub and the surviving corporation
Item 3.01: Notice of Delisting or Failure to Satisfy a Continued Listing Rule
- Merger consummation triggered a change in control of Catalyst Pharmaceuticals
- Company became a wholly owned subsidiary of Parent
Item 5.02: Departure/Appointment of Directors or Principal Officers
- All seven directors intend to resign upon merger closing, transitioning Catalyst to Angelini Pharma ownership
- Resignations include Patrick J. McEnany, Richard J. Daly, and five additional directors
Item 5.07: Submission of Matters to a Vote of Security Holders
- Merger with Angelini Pharma approved: 97,340,180 votes for versus 1,143,815 against
- 80.6% of outstanding shares participated, satisfying the stockholder-approval closing condition
Item 8.01: Other Events
- Topline Phase 1 AGAMREE results announced on June 30, 2026
- Vamorolone study advances AGAMREE development beyond existing indication
Item EX-99.1: Item EX-99.1
- Phase 1 topline data support vamorolone’s balanced profile: cortisol suppression and anti-inflammatory activity without significant immunosuppression at clinical doses
- Part A: 24 healthy adults showed comparable cortisol suppression versus 0.9 mg/kg deflazacort after 300 mg vamorolone
AI summaries of CPRX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CPRX
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- Fund moves. Which tracked funds opened, added or cut CPRX, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Miller Steve | D | Jul 15, 2026 | 11,873 | - |
| Miller Steve | D | Jul 15, 2026 | 202,958 | - |
| Miller Steve | D | Jul 15, 2026 | 248,004 | - |
| Miller Steve | D | Jul 15, 2026 | 158,454 | - |
| Miller Steve | D | Jul 15, 2026 | 185,000 | - |
| Miller Steve | D | Jul 15, 2026 | 275,000 | - |
| Miller Steve | D | Jul 15, 2026 | 1,093,803 | $31.50 |
| Miller Steve | D | Jul 15, 2026 | 180,000 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $491.7M | $589.0M |
| Operating Income | - | $195.1M | $257.8M |
| Net Income | $71.4M | $163.9M | $214.3M |
| Op. Margin | - | 39.7% | 43.8% |
| Net Margin | - | 33.3% | 36.4% |
| Balance Sheet | |||
| Total Assets | $470.1M | $851.4M | $1.1B |
| Equity | - | $727.6M | $954.3M |
| ROE | - | 22.5% | 22.5% |
| Per Share | |||
| EPS | $0.63 | $1.31 | $1.68 |
| Cash Flow | |||
| Operating CF | - | $239.8M | $208.7M |
| CapEx | $231K | $556K | $58K |
Source: XBRL data in CATALYST PHARMACEUTICALS, INC. (CPRX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate CPRX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 34 | $1.73B |
| Q1 2026 | 31 | $1.34B |
| Q4 2025 | 29 | $1.27B |
| Q3 2025 | 30 | $1.07B |
| Q2 2025 | 30 | $1.19B |
| Q1 2025 | 26 | $826.5M |
| Q4 2024 | 22 | $554.5M |
| Q3 2024 | 19 | $339.5M |
- JPMorgan Chase & Co+2.70M (+579%)
- State Street Corp+764.0K (+11%)
- BlackRock+384.3K (+2%)
- Millennium Management+301.7K (+39%)
- Goldman Sachs Group+209.5K (+21%)
- Bank of America Corp−1.73M (-57%)
- T. Rowe Price Group−614.8K (-79%)
- Raymond James Financial−593.2K (-67%)
- Citadel Advisors LLC−495.9K (-85%)
- Invesco Ltd−306.8K (-41%)
- Soros Fund Management+344.6K
- Two Sigma Investments+30.4K
- StoneX Group Inc.+14.8K
Source: 13F-HR filings on SEC EDGAR (aggregated from 221 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CPRX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 8-K | Jul 16, 2026 | - | Analysis | - |
| 8-K | Jul 8, 2026 | - | Analysis | - |
| 8-K | Jun 30, 2026 | - | Analysis | - |
| 8-K | Jun 23, 2026 | - | Analysis | - |
| 4 | Jun 5, 2026 | - | - | |
| 10-Q | May 11, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | May 11, 2026 | - | Analysis | |
| 8-K | May 7, 2026 | - | Analysis | |
| 8-K | Mar 19, 2026 | - | Analysis | - |
| 8-K | Mar 18, 2026 | - | Analysis | - |
| 10-K | Feb 25, 2026 | Dec 31, 2025 | Analysis |
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CPRX SEC filings: frequently asked questions
Which institutions hold CPRX stock?
As of June 30, 2026, the largest CATALYST PHARMACEUTICALS, INC. (CPRX) holders among the 13F filers tracked by SignalX were BlackRock ($602.2 million), State Street Corp ($239.7 million), Vanguard Capital Management LLC ($161.4 million), Dimensional Fund Advisors ($114.2 million), JPMorgan Chase & Co ($99.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CPRX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), CATALYST PHARMACEUTICALS, INC. (CPRX) reported revenue of $589.0 million (up 19.8% from FY2024) and net income of $214.3 million. Diluted EPS was $1.68. The figures come from the XBRL data in the 10-K.
What are the main risks in CPRX's latest 10-K?
In the 10-K filed February 25, 2026, CATALYST PHARMACEUTICALS, INC. (CPRX) flagged: Paragraph IV litigation with Hetero USA on FIRDAPSE® patents expiring 2032–2037, trial scheduled March 23, 2026. Exposure to Most Favored Nation pricing proposals under GUARD and GLOBE Medicare projects, impacting realized drug sale prices. (AI summary of the Risk Factors section.)
What did CPRX report in its latest 8-K?
CATALYST PHARMACEUTICALS, INC. (CPRX) filed an 8-K on July 16, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers), Item 5.03 (Amendments to Articles of Incorporation or Bylaws) and Item 3.01 (Notice of Delisting or Failure to Satisfy a Continued Listing Rule). All seven pre-merger directors resigned at the merger’s effective time.
What are the latest CPRX SEC filings?
CATALYST PHARMACEUTICALS, INC. (CPRX) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on May 11, 2026, an 8-K current report on July 16, 2026 and a Form 4 insider filing on July 17, 2026.
What is CPRX's SEC CIK number?
CATALYST PHARMACEUTICALS, INC. (CPRX)'s SEC Central Index Key (CIK) is 1369568. EDGAR lists every CPRX filing under that number.
Ask anything about CPRX
The research agent reads CPRX's filings, financials, insider trades and 13F holders, then answers with sources.