SUPN Supernus Pharmaceuticals Inc.

20.84
-0.02  -0%
Previous Close 20.86
Open 20.97
52 Week Low 13.12
52 Week High 29.36
Market Cap $1,097,519,511
Shares 52,664,084
Float 35,218,752
Enterprise Value $1,129,145,665
Volume 394,744
Av. Daily Volume 450,720
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Upcoming Catalysts

Drug Stage Catalyst Date
SPN-812 (P301)
ADHD
PDUFA
PDUFA
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SPN-812 (adult)
ADHD
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
SPN-830
Motor fluctuations in Parkinson’s disease (PD)
NDA Filing
NDA Filing
NDA filing announced September 14, 2020.
SPN-820
Treatment-resistant depression
Phase 2
Phase 2
Phase 2 trial to be initiated 2H 2021.
SPN-604
Bipolar depression
Phase 3
Phase 3
Phase 3 development has been terminated - May 5, 2020.
SPN-810 (P302)
Attention Deficit Hyperactivity Disorder (ADHD)
Phase 3
Phase 3
Phase 3 trial did not meet primary endpoint - February 25, 2020.
SPN-810
Impulsive Aggression in ADHD
Phase 3
Phase 3
Phase 3 trial did not meet primary endpoint - November 5, 2019.
Oxtellar XR
Epilepsy
Approved
Approved
FDA approval announced December 14, 2018 to expand label to include monotherapy treatment.
Trokendi
Migraine
Approved
Approved
Tentative approval August 19 2016, subject to the pediatric exclusivity which expires March 28, 2017. Final approval announced April 6, 2017.
Trokendi
Epilepsy
Approved
Approved
Approved Aug 19, 2013.
Oxtellar
Epilepsy
Approved
Approved
Approved October 22, 2017.

Latest News

  1. ROCKVILLE, Md., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that it has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for its apomorphine infusion pump (SPN-830) for the continuous treatment of ON-OFF episodes in adults with Parkinson's disease (PD) whose motor control is unsatisfactory with oral levodopa and at least one other noninvasive PD therapy.

    "We believe the continuous treatment of "OFF" episodes may offer PD patients an important alternative over currently available acute treatments," said Jack Khattar…

    ROCKVILLE, Md., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that it has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for its apomorphine infusion pump (SPN-830) for the continuous treatment of ON-OFF episodes in adults with Parkinson's disease (PD) whose motor control is unsatisfactory with oral levodopa and at least one other noninvasive PD therapy.

    "We believe the continuous treatment of "OFF" episodes may offer PD patients an important alternative over currently available acute treatments," said Jack Khattar, President and CEO of Supernus. "Current alternatives to acute treatment often require continuous infusion of levodopa through a gastric tube or surgical intervention such as deep brain stimulation. SPN-830, if approved by the FDA, would offer patients a less invasive and a convenient option in the form of a continuous subcutaneous infusion of apomorphine."

    The NDA for SPN-830 is based on data from an extensive development program, completed by Supernus' partners, US WorldMeds, LLC and Brittania Pharmaceuticals Ltd. The program includes the TOLEDO study, a pivotal Phase III study (conducted in Europe, ref. Katzenschlager et al,  Lancet Neurology 2018; 17: 749–59) and a supportive safety and efficacy study (conducted in the US).

    TOLEDO was a Phase III, multi-center, double-blind, placebo-controlled study that investigated the efficacy and safety of apomorphine subcutaneous infusion in PD subjects whose motor fluctuations were not adequately controlled on optimized treatment.  The US study is an open label study which investigated the safety and effectiveness of SPN-830. The study eligibility criteria, apomorphine administration and dosing, study schedule, and efficacy and safety measures in both studies were  similar.  Both studies included PD subjects with average daily OFF time ≥3 hours. The primary efficacy endpoint in both studies was the change from baseline to Week-12 in mean daily OFF time over 24 hours recorded by the subject in a motor symptom diary. In TOLEDO, the reduction in mean daily OFF time with SPN-830 in comparison with placebo was statistically significant  (SPN-830: 2.47 hours, n=53; placebo: 0.58 hours, n= 53; p=0.0025).  In the US study, mean daily OFF time decreased from baseline to Week-12 by 3.0 hours (n=94, p<0.0001).  Most of the treatment-related adverse events (AEs) were mild or moderate in severity. Infusion site AEs, nausea and dyskinesia were the most frequently reported AEs related to study treatment.

    About Supernus Pharmaceuticals, Inc.

    Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy; Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy; APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson's disease (PD); MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults; and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD; SPN-830 for hypomobility in PD; SPN-820 for treatment-resistant depression; and SPN-817 for the treatment of epilepsy.

    See full Prescribing Information for our products here: Trokendi XR, Oxtellar XR, APOKYN, MYOBLOC, and XADAGO.

    All trademarks are the property of their respective owners.

    Forward-Looking Statements:

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the Company's ability to sustain and increase its profitability; the Company's ability to raise sufficient capital to fully implement its corporate strategy; the implementation of the Company's corporate strategy; the Company's future financial performance and projected expenditures; the Company's ability to increase the number of prescriptions written for each of its products; the Company's ability to increase its net revenue; the Company's ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; the Company's product research and development activities, including the timing and progress of the Company's clinical trials, and projected expenditures; the Company's ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize the Company's product candidates including SPN-830; the Company's ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; the Company's expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of the Company's product candidates; the accuracy of the Company's estimates of the size and characteristics of the markets that may be addressed by its product candidates; the Company's ability to increase its manufacturing capabilities for its products and product candidates; the Company's projected markets and growth in markets; the Company's product formulations and patient needs and potential funding sources; the Company's staffing needs; and other risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

    CONTACTS:

    Jack A. Khattar, President and CEO

    Gregory S. Patrick, Senior Vice President and CFO

    Supernus Pharmaceuticals, Inc.

    Tel: (301) 838-2591

    or

    INVESTOR CONTACT:

    Peter Vozzo

    Westwicke, an ICR Company

    Office: (443) 213-0505

    Mobile: (443) 377-4767

    Email:

    Primary Logo

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  2. ROCKVILLE, Md., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company's management will present an overview and update, as well as host investor meetings, at the Morgan Stanley 18th Annual Global Healthcare Conference on Wednesday, September 16, 2020, at 2:00 p.m. ET. 

    Investors interested in arranging a virtual meeting with the Company's management during this conference should contact the conference coordinator.

    A live webcast of the presentation can be accessed by visiting Events & Presentations in the Investor Relations section on the Company's…

    ROCKVILLE, Md., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company's management will present an overview and update, as well as host investor meetings, at the Morgan Stanley 18th Annual Global Healthcare Conference on Wednesday, September 16, 2020, at 2:00 p.m. ET. 

    Investors interested in arranging a virtual meeting with the Company's management during this conference should contact the conference coordinator.

    A live webcast of the presentation can be accessed by visiting Events & Presentations in the Investor Relations section on the Company's website at www.supernus.com. An archived replay of this webcast will be available for 60 days on the Company's website after the conference.

    About Supernus Pharmaceuticals, Inc.

    Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy; Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy; APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson's disease (PD); MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults; and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD; apomorphine infusion pump for hypomobility in PD; SPN-820 for treatment-resistant depression; and SPN-817 for the treatment of epilepsy.

    See full Prescribing Information for our products here: Trokendi XR, Oxtellar XR, APOKYN, MYOBLOC, and XADAGO.

    APOKYN Pen and the apomorphine infusion pump product candidate licensed from Britannia Pharmaceuticals Limited.

    XADAGO is licensed from Zambon S.p.A.

    All trademarks are the property of their respective owners.

    CONTACTS:

    Jack A. Khattar, President and CEO

    Gregory S. Patrick, Senior Vice President and CFO

    Supernus Pharmaceuticals, Inc.

    Tel: (301) 838-2591

    or

    INVESTOR CONTACT:

    Peter Vozzo

    Westwicke, an ICR Company

    Office: (443) 213-0505

    Mobile: (443) 377-4767

    Email:

    Primary Logo

    View Full Article Hide Full Article
  3. ROCKVILLE, Md., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company's management will present an overview and update, as well as host investor meetings, at the Wells Fargo 2020 Virtual Healthcare Conference on Wednesday, September 9, 2020 at 9:20 a.m. ET. 

    Investors interested in arranging a virtual meeting with the Company's management during this conference should contact the conference coordinator.

    A live webcast of the presentation can be accessed by visiting Events & Presentations in the Investor Relations section on the Company's website…

    ROCKVILLE, Md., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company's management will present an overview and update, as well as host investor meetings, at the Wells Fargo 2020 Virtual Healthcare Conference on Wednesday, September 9, 2020 at 9:20 a.m. ET. 

    Investors interested in arranging a virtual meeting with the Company's management during this conference should contact the conference coordinator.

    A live webcast of the presentation can be accessed by visiting Events & Presentations in the Investor Relations section on the Company's website at www.supernus.com. An archived replay of this webcast will be available for 60 days on the Company's website after the conference.

    About Supernus Pharmaceuticals, Inc.

    Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy; Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy; APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson's disease (PD); MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults; and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD; apomorphine infusion pump for hypomobility in PD; SPN-820 for treatment-resistant depression; and SPN-817 for the treatment of epilepsy.

    See full Prescribing Information for our products here: Trokendi XR, Oxtellar XR, APOKYN, MYOBLOC, and XADAGO.

    APOKYN Pen and the apomorphine infusion pump product candidate licensed from Britannia Pharmaceuticals Limited.

    XADAGO is licensed from Zambon S.p.A.

    All trademarks are the property of their respective owners.

    CONTACTS:

    Jack A. Khattar, President and CEO

    Gregory S. Patrick, Senior Vice President and CFO

    Supernus Pharmaceuticals, Inc.

    Tel: (301) 838-2591

    or

    INVESTOR CONTACT:

    Peter Vozzo

    Westwicke, an ICR Company

    Office: (443) 213-0505

    Mobile: (443) 377-4767

    Email:

    Primary Logo

    View Full Article Hide Full Article
    • Total revenue of $126.7 million, including net product sales of $89.7 million for Trokendi XR®, $23.7 million for Oxtellar XR®, and $10.6 million for the acquired Parkinson's disease (PD) products
    • Operating earnings of $45.5 million
    • Completed acquisition of CNS portfolio of US WorldMeds on June 9, 2020
    • Executed a Development and Option Agreement with Navitor Pharmaceuticals, Inc. on SPN-820 (NV-5138)
    • On track to launch SPN-812, if approved by the FDA, with shipments to the trade in December 2020
    • Topline data for the Phase III SPN-812 trial in adult patients expected in first quarter 2021
    • Updated full year 2020 financial guidance, reflecting acquisition of PD products as of June 9, 2020: net product sales ranging from $460 million to $500 million…
    • Total revenue of $126.7 million, including net product sales of $89.7 million for Trokendi XR®, $23.7 million for Oxtellar XR®, and $10.6 million for the acquired Parkinson's disease (PD) products
    • Operating earnings of $45.5 million
    • Completed acquisition of CNS portfolio of US WorldMeds on June 9, 2020
    • Executed a Development and Option Agreement with Navitor Pharmaceuticals, Inc. on SPN-820 (NV-5138)
    • On track to launch SPN-812, if approved by the FDA, with shipments to the trade in December 2020
    • Topline data for the Phase III SPN-812 trial in adult patients expected in first quarter 2021
    • Updated full year 2020 financial guidance, reflecting acquisition of PD products as of June 9, 2020: net product sales ranging from $460 million to $500 million; operating earnings ranging from $90 million to $110 million.

    ROCKVILLE, Md., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today reported financial results for the second quarter of 2020 and associated Company developments.

    Commercial Update

    Second quarter 2020 net product sales of $124.0 million, 21% higher than the same period in 2019, driven by higher net product sales of Trokendi XR and Oxtellar XR and the addition of $10.6 million of net product sales from the acquired PD products. Net product sales of Trokendi XR and Oxtellar XR increased 11% compared to the same period in 2019 due to the beneficial impact of lower gross-to-net sales deductions in the second quarter of 2020, coupled with the price increase taken in January 2020. The year over year impact of volume, on an extended units basis (i.e., number of capsules/tablets), was neutral.

    Net Product Sales

    ($ in millions)
     Q2 2020 Q2 2019Change %
    Trokendi XR$89.7 $79.014%
    Oxtellar XR23.7 23.41%
    APOKYN(1)8.6 100%
    XADAGO(1)0.8 100%
    MYOBLOC(1)1.2 100%
    Total$124.0 $102.421%

    1 Net product sales from June 9, 2020 to June 30, 2020

    Corporate and Product Pipeline Update

    SPN-812 - Novel non-stimulant for the treatment of ADHD in children and adults

    • The Company continues to prepare for the commercial launch of SPN-812, with shipments to the trade in December 2020. The Company remains engaged with the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for the treatment of ADHD. The NDA Prescription Drug User Fee Act (PDUFA) target action date is November 8, 2020.
    • Recruitment has resumed in the Phase III program in adult patients, after being put on hold in March 2020 due to the impact of the COVID-19 pandemic. The trial is expected to complete enrollment this year, with topline data expected in the first quarter of 2021.   

    SPN-830 (Apomorphine infusion pump) - continuous treatment of motor fluctuations ("on-off" episodes) in PD

    • NDA submission is expected in the fourth quarter of 2020, with launch, if approved by the FDA, in the second half of 2021.

    SPN-820 – novel first-in-class activator of mTORC1

    • Preclinical and development activities are ongoing, with the initiation of the Phase II clinical program in patients with treatment-resistant depression targeted for the second half of 2021.

    Operating Expenses

    Second Quarter

    Research and development (R&D) expenses in the second quarter of 2020 were $22.2 million, compared to $17.0 million in the same quarter last year. This increase was primarily due to the $10.0 million option fee paid to Navitor as part of the collaboration agreement for SPN-820, coupled with expenses incurred in the SPN-812 Phase III program for adults. Increased expenses were partially offset by reduced spending for the SPN-810 Phase III trials.

    Selling, general and administrative (SG&A) expenses in the second quarter of 2020 were $48.1 million, compared to $39.8 million in the same quarter last year. This increase is primarily due to $7.4 million of expense associated with the transaction to acquire the CNS portfolio of US WorldMeds in the second quarter of 2020, partially offset by $3.1 million in PDUFA fee refund from the FDA.

    Operating Earnings and Earnings Per Share

    Operating earnings (GAAP) in the second quarter of 2020 were $45.5 million, compared to $42.6 million in the second quarter of 2019. The increase was primarily due to increased net product sales, partially offset by the aforementioned option fee paid to Navitor and acquisition-related expenses associated with the acquired PD products.

    Net earnings (GAAP) in the second quarter of 2020 were $34.7 million, or $0.65 per diluted share, as compared to $32.7 million, or $0.61 per diluted share, in the same period last year. Net earnings (GAAP) were subject to a higher effective tax rate of 27% in the second quarter of 2020 relative to the second quarter of 2019, due to the aforementioned transaction-related expenses associated with the acquired PD products, which are partially tax deductible, and an increase in the number of states in which the Company pays income tax.

    Weighted-average diluted common shares outstanding were approximately 53.6 million for the second quarter of 2020, as compared to approximately 53.9 million for the prior year period.

    Balance Sheet Highlights

    As of June 30, 2020, the Company had $733.5 million in cash, cash equivalents, marketable securities and long term marketable securities, compared to $938.8 million at December 31, 2019. During the first six months of 2020, inclusive of net changes in working capital, the Company generated $100.9 million of cash from operations. During the second quarter, the Company made cash payments of approximately $300 million for the acquired PD products, as well as the aforementioned $10.0 million fee paid to Navitor as part of the development and option agreement for SPN-820.    

    Financial Guidance

    Guidance was suspended in May 2020 due to several factors: the uncertainty caused by the COVID-19 pandemic; the second quarter 2020 acquisition of the PD products; and the impact of the partnership with Navitor. The Company is now reinstating and updating full year 2020 financial guidance, which consists of the following components, inclusive of the impact of acquiring the PD products as of June 9, 2020:

    • Net product sales to range from $460 million to $500 million, including approximately $80 million from the PD products.
    • Gross margins of approximately 90%.
    • R&D expenses of approximately $85 million.
    • Selling, general and administrative expenses to range from $240 million to $250 million.
    • Operating earnings (GAAP) to range from $90 million to $110 million, which includes amortization of intangible assets of approximately $15 million.

    Conference Call Details

    The Company will hold a conference call hosted by Jack Khattar, President and Chief Executive Officer, and Greg Patrick, Senior Vice President and Chief Financial Officer, to discuss these results at 9:00 a.m. Eastern Time, on Wednesday, August 19, 2020.

    Please refer to the information below for conference call dial-in information and webcast registration. Callers should dial in approximately 10 minutes prior to the start of the call.

    Conference dial-in:(877) 288-1043
    International dial-in:(970) 315-0267
    Conference ID:5175177
    Conference Call Name:Supernus Pharmaceuticals Second Quarter 2020 Earnings Conference Call

    Following the live call, a replay will be available on the Company's website, www.supernus.com, under "Investor Relations".

    About Supernus Pharmaceuticals, Inc.

    Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy; Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy; APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson's disease (PD); MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults; and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD; apomorphine infusion pump for hypomobility in PD; SPN-820 for treatment-resistant depression; and SPN-817 for the treatment of epilepsy.

    See full Prescribing Information for our products here: Trokendi XR, Oxtellar XR, APOKYN, MYOBLOC, and XADAGO.

    APOKYN Pen and the apomorphine infusion pump product candidate licensed from Britannia Pharmaceuticals Limited.

    XADAGO is licensed from Zambon S.p.A.

    All trademarks are the property of their respective owners.

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the Company's ability to sustain and increase its profitability; the Company's ability to raise sufficient capital to fully implement its corporate strategy; the implementation of the Company's corporate strategy; the Company's future financial performance and projected expenditures; the Company's ability to increase the number of prescriptions written for each of its products; the Company's ability to increase its net revenue; the Company's ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; the Company's product research and development activities, including the timing and progress of the Company's clinical trials, and projected expenditures; the Company's ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize the Company's product candidates; the Company's ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; the Company's expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of the Company's product candidates; the accuracy of the Company's estimates of the size and characteristics of the markets that may be addressed by its product candidates; the Company's ability to increase its manufacturing capabilities for its products and product candidates; the Company's projected markets and growth in markets; the Company's product formulations and patient needs and potential funding sources; the Company's staffing needs; and other risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

    Supernus Pharmaceuticals, Inc.

    Condensed Consolidated Balance Sheets

    (in thousands, except share data)

     June 30, December 31,
     2020 2019
     (unaudited)  
    Assets   
    Current assets   
    Cash and cash equivalents$210,975 $181,381
    Marketable securities163,839 165,692
    Accounts receivable, net126,559 87,332
    Inventories, net35,338 26,628
    Prepaid expenses and other current assets20,442 11,611
    Total current assets557,153 472,644
    Long term marketable securities358,673 591,773
    Property and equipment, net17,941 17,068
    Operating lease assets21,289 21,279
    Finance lease asset22,479 
    Intangible assets, net408,272 24,840
    Goodwill88,095 
    Deferred income tax assets 32,063
    Other assets17,118 615
    Total assets$1,491,020 $1,160,282
        
    Liabilities and stockholders' equity   
    Current liabilities   
    Accounts payable$5,515 $10,141
    Accrued product returns and rebates144,105 107,629
    Accrued expenses and other current liabilities58,818 34,305
    Contingent consideration, current portion23,500 
    Income taxes payable25,052 2,443
    Operating lease liabilities, current portion3,560 2,825
    Finance lease liability, current portion4,201 
    Nonrecourse liability related to sale of future royalties, current portion4,525 3,244
    Total current liabilities269,276 160,587
    Convertible notes, net353,349 345,170
    Contingent consideration, long term92,200 
    Nonrecourse liability related to sale of future royalties, long term16,455 19,248
    Operating lease liabilities, long term30,108 30,440
    Finance lease liability, long term18,382 
    Deferred income tax liabilities35,716 
    Other liabilities9,560 9,409
    Total liabilities825,046 564,854
        
    Stockholders' equity   
    Common stock, $0.001 par value; 130,000,000 shares authorized; 52,624,084 and 52,533,348 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively53 53
    Additional paid-in capital398,829 388,410
    Accumulated other comprehensive earnings, net of tax11,359 7,417
    Retained earnings255,733 199,548
    Total stockholders' equity665,974 595,428
        
    Total liabilities and stockholders' equity$1,491,020 $1,160,282

    Supernus Pharmaceuticals, Inc.

    Condensed Consolidated Statements of Earnings

    (in thousands, except share and per share data)

     Three Months ended

    June 30,
     Six Months ended

    June 30,
     2020 2019 2020 2019
     (unaudited) (unaudited)
    Revenues       
    Net product sales$123,984  $102,358  $216,474  $185,457 
    Royalty revenues2,745  2,337  5,231  4,712 
    Total revenues126,729  104,695  221,705  190,169 
            
    Costs and expenses       
    Cost of goods sold(a)8,386  4,044  12,538  7,728 
    Research and development22,247  16,970  41,184  32,364 
    Selling, general and administrative48,103  39,777  89,717  79,439 
    Amortization of intangible assets2,445  1,306  3,706  2,612 
            
    Total costs and expenses81,181  62,097  147,145  122,143 
            
    Operating earnings45,548  42,598  74,560  68,026 
            
    Other income (expense)       
    Interest income4,151  5,448  9,726  10,137 
    Interest expense(5,815) (5,389) (11,570) (11,268)
    Other income, net3,326  89  3,528  90 
    Total other income (expense)1,662  148  1,684  (1,041)
            
    Earnings before income taxes47,210  42,746  76,244  66,985 
            
    Income tax expense12,543  10,019  20,059  15,918 
    Net earnings$34,667  $32,727  $56,185  $51,067 
            
    Earnings per share       
    Basic$0.66  $0.62  $1.07  $0.98 
    Diluted$0.65  $0.61  $1.05  $0.95 
            
    Weighted-average shares outstanding       
    Basic52,557,035  52,385,590  52,545,910  52,361,149 
    Diluted53,645,828  53,912,977  53,611,418  53,947,834 

    ___________________________________________

    (a) Excludes amortization of acquired intangible assets



    CONTACTS:

    Jack A. Khattar, President and CEO

    Gregory S. Patrick, Senior Vice President and CFO

    Supernus Pharmaceuticals, Inc.

    Tel: (301) 838-2591

    or

    INVESTOR CONTACT:

    Peter Vozzo

    Westwicke, an ICR Company

    Office: (443) 213-0505

    Mobile: (443) 377-4767

    Email:  

    Primary Logo

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    • Second quarter total revenue is estimated to be $126.7 million, a 21% increase over 2019
    • Net product sales of Trokendi XR® and Oxtellar XR® are estimated to be $113.4 million, an 11% increase over 2019
    • Completed acquisition of CNS portfolio of US WorldMeds on June 9, 2020
    • Management to host a conference call and webcast to review full second quarter 2020 results on Wednesday, August 19, 2020 at 9:00 a.m. ET

    ROCKVILLE, Md., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today reported preliminary, unaudited revenue and net product sales for the second quarter of 2020.

    Preliminary…

    • Second quarter total revenue is estimated to be $126.7 million, a 21% increase over 2019
    • Net product sales of Trokendi XR® and Oxtellar XR® are estimated to be $113.4 million, an 11% increase over 2019
    • Completed acquisition of CNS portfolio of US WorldMeds on June 9, 2020
    • Management to host a conference call and webcast to review full second quarter 2020 results on Wednesday, August 19, 2020 at 9:00 a.m. ET

    ROCKVILLE, Md., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today reported preliminary, unaudited revenue and net product sales for the second quarter of 2020.

    Preliminary second quarter 2020 revenue consisted of net product sales of $124.0 million and royalty revenue of $2.7 million. Preliminary second quarter 2020 net product sales of $124.0 million increased 21% compared to the same period in 2019 due to higher net product sales of Trokendi XR and Oxtellar XR and the addition of $10.6 million of net product sales from the acquisition of the CNS portfolio of US WorldMeds, which closed on June 9, 2020.

    Net Product Sales

    ($ in millions)
     Q2 2020 Q2 2019 Change %
    Trokendi XR$89.7  $79.0  14%
    Oxtellar XR23.7  23.4  1%
    Acquired products110.6    N/A 
    Total$124.0  $102.4  21%

    1 Acquired June 9, 2020. Includes APOKYN® pen, MYOBLOC® and XADAGO®

    The second quarter 2020 revenue results included herein are preliminary and are therefore subject to change.

    Conference Call Details

    The Company expects to report full second quarter 2020 results after 5:00 p.m. ET on Tuesday, August 18, 2020.  The Company will hold a conference call hosted by Jack Khattar, President and Chief Executive Officer, and Greg Patrick, Senior Vice President and Chief Financial Officer, to discuss these results at 9:00 a.m. Eastern Time, on Wednesday, August 19, 2020. Please refer to the information below for conference call dial-in information and webcast registration. Callers should dial in approximately 10 minutes prior to the start of the call.

    Conference dial-in:(877) 288-1043
    International dial-in:(970) 315-0267
    Conference ID:5175177
    Conference Call Name:Supernus Pharmaceuticals Second Quarter 2020 Earnings Conference Call

    Following the live call, a replay will be available on the Company's website, www.supernus.com, under "Investor Relations".

    About Supernus Pharmaceuticals, Inc.

    Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy, Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy, APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson's disease (PD), MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD, apomorphine infusion pump for hypomobility in PD, SPN-820 (NV-5138) for treatment-resistant depression and SPN-817 for the treatment of epilepsy.

    APOKYN Pen and the apomorphine infusion pump product candidate licensed from Britannia Pharmaceuticals Limited

    XADAGO is licensed from Zambon S.p.A

    All trademarks are the property of their respective owners.

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the Company's ability to sustain and increase its profitability; the Company's ability to raise sufficient capital to fully implement its corporate strategy; the implementation of the Company's corporate strategy; the Company's future financial performance and projected expenditures; the Company's ability to increase the number of prescriptions written for each of its products; the Company's ability to increase its net revenue; the Company's ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; the Company's product research and development activities, including the timing and progress of the Company's clinical trials, and projected expenditures; the Company's ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize the Company's product candidates; the Company's ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; the Company's expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of the Company's product candidates; the accuracy of the Company's estimates of the size and characteristics of the markets that may be addressed by its product candidates; the Company's ability to increase its manufacturing capabilities for its products and product candidates; the Company's projected markets and growth in markets; the Company's product formulations and patient needs and potential funding sources; the Company's staffing needs; and other risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

    CONTACTS:

    Jack A. Khattar, President and CEO

    Gregory S. Patrick, Senior Vice President and CFO

    Supernus Pharmaceuticals, Inc.

    Tel: (301) 838-2591

    or

    INVESTOR CONTACT:

    Peter Vozzo

    Westwicke, an ICR Company

    Office: (443) 213-0505

    Mobile: (443) 377-4767

    Email:

     

    Primary Logo

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