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Exhibit 99.1 Catalyst pharmaceuticals Catalyst Pharmaceuticals Announces First Quarter 2021 Financial Results and Provides Business Update -Firdapse® Q1 2021 Net Revenues of $ 30.2 Million -First Quarter 2021 GAAP Net Income of $ 7.7 Million ; Non - GAAP Net Income of $ 11.6 Million -Recently Received Orphan Drug Designation for Firdapse® in Japan - $ 143.3 Million in Cash and Investments and no Funded Debt at end of Q1-2021 -Catalyst to Host Quarterly Conference Call at 8:30 AM ET Tomorrow _ CORAL GABLES , Fla . , May 10 , 2021 ( GLOBE NEWSWIRE ) Catalyst Pharmaceuticals , Inc. ( Catalyst ) ( Nasdaq : CPRX ) , a commercial - stage , patient - centric biopharmaceutical company focused on in - licensing , developing and commercializing novel high - quality medicines for patients living with rare diseases , today reported financial results for the first quarter ended March 31 , 2021 and provided a business update . " I am extremely pleased with the execution of our operational plan for 2021 despite some continued headwinds due to the on - going COVID - 19 pandemic . We are encouraged to see physician practices in many parts of the country opening their offices for in - person visits , but there are parts of the country that have been slow to re - open . What is most important is that our team has adapted and executed to ensure that all LEMS patients continue to have uninterrupted access to Firdapse® ” said Patrick J. McEnany , Chairman and Chief Executive Officer of Catalyst Pharmaceuticals . “ As for the remainder of 2021 , we are optimistic that we will continue to see the number of new patient enrollments accelerate which in turn will generate a strong uptake in Firdapse® revenues . At the same time we are advancing our other programs for the Firdapse® brand and are extremely focused on diversifying our product pipeline through acquisition or in - licensing activities that reflect our new strategic plan . ” Q1-21 Financial Results . Total net revenue in Q1-21 was $ 30.2 million , compared to $ 29.1 million for Q1-20 . • • • Operating income in Q1-21 was $ 9.8 million , compared to $ 10.7 million in Q1-20 . GAAP net income in Q1-21 was $ 7.7 million , or $ 0.07 per basic and diluted share , compared with net income in Q1-20 of $ 10.4 million , or $ 0.10 per basic and diluted share . Research and development expenses for the first quarter of 2021 were $ 3.0 million as compared to $ 4.2 million for the first quarter of 2020 . Selling , general and administrative expenses for the first quarter of 2021 totaled $ 12.7 million as compared to $ 10.1 million in the first quarter of 2020 . From inception during March 2021 of our share repurchase program through May 7 , 2021 we have repurchased 507,555 common stock shares at an average price of $ 4.49 . • Ended March 31 , 2021 with $ 143.3 million in cash and investments and no funded debt .