Catalyst Pharmaceuticals Touts Firdapse Growth, Agamree Traction as Fycompa Faces Generics

CEO Rich Daly discusses the company's rare disease portfolio and commercial initiatives amid competitive pressures.

Mar. 14, 2026 at 7:20pm

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Catalyst Pharmaceuticals (NASDAQ:CPRX) highlighted continued growth in its rare disease portfolio, including its lead product Firdapse for Lambert-Eaton myasthenic syndrome (LEMS) and the recently launched Agamree for Duchenne muscular dystrophy (DMD). CEO Rich Daly also reviewed the impact of generic competition on Fycompa, the company's epilepsy drug, and discussed Catalyst's capital allocation priorities, including business development and share repurchases.

Why it matters

Catalyst's ability to drive growth in its rare disease portfolio, particularly Firdapse and Agamree, is crucial as it faces declining revenues from Fycompa due to generic competition. The company's success in expanding patient identification and penetration for its key products, as well as its strategic capital allocation decisions, will shape its long-term trajectory in the rare disease space.

The details

Daly described Catalyst as a rare disease company focused on 'ultra rare' conditions, with three commercial products at different life cycle stages. For Firdapse, the company implemented operational changes to help patients start therapy sooner, reach the right dose, and remain on treatment, leading to a decline in patient discontinuation. Catalyst also increased its focus on cancer-associated LEMS, working with a national lab and the National Comprehensive Cancer Network (NCCN) to improve diagnosis and treatment. For Agamree, the launch 'went really well' with patients coming from both generic prednisone and Emflaza, as well as therapy-naïve patients. Daly noted that issues surrounding the gene therapy Elevidys created some delays in switching patients to Agamree, but the brand 'weathered' that period well. Looking ahead, Daly highlighted the significant penetration opportunity for both Firdapse and Agamree, as well as Catalyst's ongoing SUMMIT study to further evaluate Agamree's clinical profile. The company also discussed its capital allocation priorities, including a focus on acquiring differentiated rare disease products and a $200 million share repurchase authorization.

  • Firdapse has been on the market for about eight years.
  • Agamree was launched in March 2024.
  • Generic competition for Fycompa began around mid-year.

The players

Catalyst Pharmaceuticals

A biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases.

Rich Daly

The Chief Executive Officer of Catalyst Pharmaceuticals.

Firdapse

Catalyst's lead product, a muscle-activating drug approved for the treatment of Lambert-Eaton myasthenic syndrome (LEMS).

Agamree

Catalyst's corticosteroid product for the treatment of Duchenne muscular dystrophy (DMD), launched in March 2024.

Fycompa

An epilepsy drug acquired by Catalyst from Eisai, which has faced generic competition beginning around mid-year.

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What they’re saying

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— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.