CATALYST PHARMACEUTICALS, INC. Leases Disclosure
The Company has an operating lease agreement for its corporate office that commenced in March 2021 for approximately 10,700 square feet of space. The lease includes an option to extend the lease for up to 5 years and options to terminate the lease within 6 and 7.6 years. The Company has no obligations under finance leases.
The components of lease expense were as follows (in thousands):
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For the Years Ended December 31, |
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2025 |
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2024 |
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Operating lease cost |
|
$ |
431 |
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|
$ |
431 |
|
Supplemental cash flow information related to lease was as follows (in thousands):
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For the Years Ended December 31, |
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2025 |
|
|
2024 |
|
||
Cash paid for amounts included in the measurement of |
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|
|
|
|
|
||
Operating cash flows |
|
$ |
537 |
|
|
$ |
522 |
|
Right-of-use assets obtained in exchange for lease |
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|
|
|
|
|
||
Operating lease |
|
$ |
89 |
|
|
$ |
89 |
|
Supplemental balance sheet information related to lease was as follows (in thousands):
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|
December 31, 2025 |
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|
December 31, 2024 |
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Operating lease right-of-use assets, net |
|
$ |
1,935 |
|
|
$ |
2,230 |
|
Other current liabilities |
|
$ |
437 |
|
|
$ |
402 |
|
liabilities, net of current portion |
|
|
2,350 |
|
|
|
2,786 |
|
Total operating lease liabilities |
|
$ |
2,787 |
|
|
$ |
3,188 |
|
As of December 31, 2025 and December 31, 2024, the weighted average remaining lease term was 5.3 years and 6.3 years, respectively. The weighted average discount rate used to determine the operating lease liabilities was 4.5% as of December 31, 2025 and 2024.
Remaining payments of lease liabilities as of December 31, 2025 were as follows (in thousands):
2026 |
|
|
553 |
|
2027 |
|
|
570 |
|
2028 |
|
|
587 |
|
2029 |
|
|
605 |
|
2030 |
|
|
623 |
|
Thereafter |
|
|
212 |
|
Total lease payments |
|
|
3,150 |
|
Less: imputed interest |
|
|
(363 |
) |
Total |
|
$ |
2,787 |
|
Rent expense was approximately $0.4 million for each of the years ended December 31, 2025, 2024 and 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 16, 2022 | |
| 2020 | Mar 15, 2021 | |
| 2019 | Mar 16, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.