Core Insights - Supernus Pharmaceuticals (SUPN) reported $174.16 million in revenue for Q4 2024, a 6% year-over-year increase, with an EPS of $0.75 compared to $0.02 a year ago, indicating strong financial performance [1] - The revenue exceeded the Zacks Consensus Estimate of $155.25 million by 12.18%, and the EPS surpassed the consensus estimate of $0.52 by 44.23% [1] Revenue Breakdown - Net product sales for Trokendi XR were $14.80 million, exceeding the average estimate of $9.34 million, but showing a year-over-year decline of 24.5% [4] - Oxtellar XR generated $13.20 million, slightly below the estimated $13.21 million, reflecting a significant year-over-year decrease of 57.4% [4] - Qelbree sales reached $74.40 million, surpassing the estimate of $65.08 million, marking a substantial year-over-year increase of 60.3% [4] - Total net product sales amounted to $166.40 million, exceeding the average estimate of $149.84 million, with a year-over-year growth of 6.7% [4] - Royalty revenues were reported at $7.76 million, above the estimated $5.40 million, but down 6.4% from the previous year [4] - GOCOVRI sales were $36.90 million, slightly above the estimate of $36.11 million, with a year-over-year increase of 15.3% [4] - Other net product sales totaled $7 million, below the estimate of $7.83 million, reflecting a year-over-year decline of 15.7% [4] - APOKYN generated $20.10 million, exceeding the estimate of $17.50 million, with a year-over-year increase of 7.5% [4] Stock Performance - Supernus shares have returned -17.1% over the past month, compared to a -1.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), suggesting potential for outperformance in the near term [3]

Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) Q4 2024 Earnings Conference Call February 25, 2025 4:30 PM ET Company Participants Peter Vozzo – Investor Relations-ICR Healthcare Jack Khattar – Chief Executive Officer Tim Dec – Chief Financial Officer Conference Call Participants Andrew Tsai – Jefferies Stacy Ku – TD Cowen Annabel Samimy - Stifel David Amsellem – Piper Sandler Kristen Kluska - Cantor Fitzgerald Operator Good afternoon, and welcome to Supernus Pharmaceuticals Fourth Quarter and Full Year 2024 F ...

Group 1: Earnings Performance - Supernus Pharmaceuticals reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, and significantly up from $0.02 per share a year ago, representing an earnings surprise of 44.23% [1] - The company posted revenues of $174.16 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 12.18%, compared to year-ago revenues of $164.31 million [2] - Over the last four quarters, Supernus has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Supernus shares have declined approximately 9.6% since the beginning of the year, while the S&P 500 has gained 1.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.36 on revenues of $143.75 million, and for the current fiscal year, it is $1.93 on revenues of $622.79 million [7] Group 3: Industry Context - The Medical - Generic Drugs industry, to which Supernus belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for Supernus is currently favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expectations of outperforming the market in the near future [6]

Financial Position - As of December 31, 2024, the company had unrestricted cash and cash equivalents and marketable securities totaling $453.6 million[570]. - Cash and cash equivalents decreased to $69.3 million in 2024 from $75.1 million in 2023, indicating a need for cash management strategies[598]. - Cash and cash equivalents at the end of 2024 were $69,331,000, down from $75,054,000 in 2023, reflecting changes in cash management[609]. - As of December 31, 2024, the company reported cash and cash equivalents of $37.8 million, an increase from $36.0 million in 2023[722]. - The fair value of unrestricted available-for-sale marketable securities increased to $384.3 million as of December 31, 2024, compared to $196.4 million in 2023[710]. Debt and Financing - The company fully repaid the outstanding principal and interest on the 2023 Notes in April 2023 and repaid the Credit Line in June 2023[571]. - The company may borrow funds under its Credit Line in the future, which exposes it to interest rate risk[571]. - The Company entered into a credit line agreement with UBS on February 8, 2023, providing a revolving line of credit of up to $150 million[752]. - The 0.625% Convertible Senior Notes matured on April 1, 2023, with a total principal payment of $402.5 million and remaining interest of $1.3 million paid[748]. - The Company borrowed $93.0 million under the Credit Line on March 30, 2023, and fully repaid this amount along with $0.7 million in interest by June 30, 2023[757]. Revenue and Sales Performance - Total revenues for 2024 reached $661.8 million, a 8.9% increase from $607.5 million in 2023[600]. - Net product sales increased to $637.7 million in 2024, up 11.1% from $573.9 million in 2023[600]. - Net product sales reached $637.7 million in 2024, up 11.1% from $573.9 million in 2023, with Qelbree sales increasing significantly to $241.3 million, representing 38% of total net product sales[704][709]. - The company recognizes revenue from product sales net of various deductions, including rebates and returns, which are estimated based on historical data and contractual terms[657]. - Adjustments related to prior year sales in 2024 were less than 3% of net product sales, primarily due to favorable returns for Qelbree[706]. Earnings and Profitability - Net earnings for 2024 were $73.9 million, significantly up from $1.3 million in 2023, representing a substantial increase[600]. - Basic earnings per share rose to $1.34 in 2024, compared to $0.02 in 2023[600]. - The company reported a comprehensive earnings of $74.3 million in 2024, compared to $3.9 million in 2023[602]. - Net earnings for the year ended December 31, 2024, were $73,865,000, a significant increase from $1,316,000 in 2023 and $60,711,000 in 2022, reflecting strong operational performance[609]. - The company paid $53,254,000 in income taxes in 2024, compared to $36,602,000 in 2023, indicating a higher tax obligation due to increased earnings[609]. Assets and Equity - Total assets increased to $1.368 billion in 2024, up from $1.278 billion in 2023, reflecting a growth of 7.1%[598]. - Total stockholders' equity reached $1.036 billion in 2024, an increase of 12.4% from $921.5 million in 2023[598]. Research and Development - Research and development expenses rose to $108.8 million in 2024, up from $91.6 million in 2023, indicating a focus on innovation[600]. - Research and development expenses include costs for preclinical and clinical studies, employee salaries, and contract research services, expensed as incurred[675]. Inventory and Cost Management - Cost of goods sold decreased to $77.9 million in 2024 from $83.8 million in 2023, showing improved efficiency[600]. - The company experienced a write-down in inventory valuation of $8,876,000 in 2024, compared to $8,023,000 in 2023, indicating potential challenges in inventory management[609]. Customer Concentration - Customer A accounted for 28% of gross product sales in 2024, with accounts receivable from this customer at 40%[640]. - Customer B represented 24% of gross product sales in 2024, with accounts receivable at 28%[640]. - Customer C contributed 25% to gross product sales in 2024, with accounts receivable at 16%[640]. - Customer D's share of gross product sales increased to 13% in 2024, with accounts receivable at 8%[640]. - The total percentage of gross product sales from these four customers was 90% in 2024, compared to 88% in 2023[640]. Contingent Consideration and Acquisitions - The Company completed the USWM Acquisition on June 9, 2020, with potential contingent consideration payments of up to $55 million, including $25 million for FDA approval and $30 million for product launch, expected to be paid in 2025[728]. - The FDA approved ONAPGO (apomorphine hydrochloride) injection in February 2025, leading to a $25 million milestone payment[728]. - The Adamas Acquisition, completed on November 24, 2021, includes two contingent value rights (CVRs) with potential payments of $0.50 per share upon achieving sales milestones of GOCOVRI exceeding $150 million by December 31, 2024, and $225 million by December 31, 2025[730][731]. - As of December 31, 2024, the 2024 Milestone was not met, with the 2025 Milestone contingent consideration valued at $0 or $25 million[732]. - The Company recorded a change in fair value of contingent consideration liabilities, with a balance of $47.34 million for USWM and no remaining balance for Adamas as of December 31, 2024[735]. Share-Based Compensation - The company recognized share-based compensation expense of $27,755,000 in 2024, slightly up from $26,759,000 in 2023, reflecting ongoing employee incentive programs[609]. - Share-based compensation expense for the year ended December 31, 2024, totaled $27.755 million, an increase from $26.759 million in 2023 and $17.568 million in 2022[763]. - The number of stock options outstanding as of December 31, 2024, was 6,719,073, with a weighted average exercise price of $30.44[764]. - The total fair value of the underlying common stock related to options that vested during the year ended December 31, 2024, was approximately $16.7 million, up from $14.8 million in 2023 and $13.9 million in 2022[766]. - The total unrecognized compensation expense was approximately $37.4 million, expected to be recognized over a weighted-average period of 2.5 years[768]. Regulatory and Compliance - The Company plans to adopt ASU 2023-09 for the fiscal year ending December 31, 2025, which requires additional disclosures regarding income tax expense and effective tax rate reconciliation[700]. - The Company is evaluating the impact of the SEC's final climate rule on its disclosures following the adoption of the rule in March 2024[703].

Financial Reporting - Supernus Pharmaceuticals, Inc. will report its Q4 and full year 2024 business results on February 25, 2025[4] - A conference call and webcast will be held on February 25, 2025, at 4:30 p.m. E.T. to discuss the financial results[4]

Core Insights - Supernus Pharmaceuticals reported strong financial results for Q4 and full year 2024, highlighting significant growth in core products and operating earnings [2][3][14] - The company anticipates continued growth in Qelbree and the launch of ONAPGO for Parkinson's disease in Q2 2025 [2][3] Financial Performance - Q4 2024 net sales of Qelbree increased by 60% to $74.4 million, while full year sales rose by 72% to $241.3 million compared to 2023 [3][14] - GOCOVRI's Q4 2024 net sales increased by 15% to $36.9 million, with full year sales up by 9% to $130.8 million [3][14] - Total revenues for full year 2024 reached $661.8 million, a 9% increase from 2023, with revenues excluding Trokendi XR and Oxtellar XR up by 25% [3][14] - Operating earnings for full year 2024 were $81.7 million, a significant recovery from an operating loss of $(5.3) million in 2023 [3][14] Product Pipeline Developments - ONAPGO, approved by the FDA, is set to launch in Q2 2025 as the first subcutaneous apomorphine infusion device for Parkinson's disease [3][5] - Qelbree's label has been updated to include new pharmacodynamic data, enhancing its profile for ADHD treatment [4] - Interim results from a Phase IV trial of Qelbree in adults with ADHD showed promising improvements in symptoms [4] Future Guidance - For full year 2025, Supernus projects total revenues between $600 million and $630 million, with adjusted operating earnings expected to be between $105 million and $130 million [3][12]

Group 1 - Supernus Pharmaceuticals, Inc. shares fell over 13% on February 19, 2025, after the company announced that its Phase 2b study of SPN-820 for treatment-resistant depression failed to meet its primary endpoint, showing no significant improvement over placebo [2] - The outcome of the study was unexpected for investors, given the company's previous optimism regarding the drug's potential [2] - Block & Leviton is investigating Supernus Pharmaceuticals for potential securities law violations related to the company's prior disclosures [4] Group 2 - Investors who purchased Supernus Pharmaceuticals, Inc. common stock and experienced a loss may be eligible to recover those losses, regardless of whether they have sold their investment [3] - Block & Leviton is recognized as a leading securities class action firm, having recovered billions of dollars for defrauded investors [7] - The firm encourages individuals with non-public information about Supernus Pharmaceuticals to assist in the investigation or report to the Securities Exchange Commission under the whistleblower program, which offers rewards of up to 30% of any successful recovery [6]

Group 1 - Supernus Pharmaceuticals' shares fell over 13% on February 19, 2025, after the company announced that its Phase 2b study of SPN-820 for treatment-resistant depression failed to meet its primary endpoint, showing no significant improvement over placebo [2] - The outcome of the study was unexpected for investors, given the company's previous optimism regarding the drug's potential [2] - Block & Leviton is investigating Supernus Pharmaceuticals for potential securities law violations related to the company's prior disclosures [4] Group 2 - Investors who purchased Supernus Pharmaceuticals' common stock and experienced a decline in share value may be eligible to recover losses, regardless of whether they have sold their investment [3] - Block & Leviton is known as a leading securities class action firm, having recovered billions of dollars for defrauded investors through active litigation [7] - The firm encourages individuals with non-public information about Supernus Pharmaceuticals to assist in the investigation or report to the SEC under the whistleblower program, which offers rewards of up to 30% of any successful recovery [6]

Study did not demonstrate statistically significant improvement on primary endpoint of reduction in depressive symptoms as measured by MADRS total score compared to placeboSPN-820 was well-tolerated with few adverse events, consistent with previously reported studies ROCKVILLE, Md., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, announce ...

ROCKVILLE, Md., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company expects to report financial and business results for the fourth quarter and full year of 2024 after the market closes on Tuesday, February 25, 2025. Jack Khattar, President and CEO, and Tim Dec, Senior Vice President and CFO, will host a confe ...