Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Exact name of registrant as specified in its charter) | Delaware | | | 20-2590184 | | --- | --- | --- | --- | | (State or other jurisdiction of | | | (I.R.S. Employer | | incorporation or organization) | | | Identification No.) | | 9715 Key West Avenue | Rockville | MD | 20850 | | (Address of principal executive offices) | | | (Zip Code) | (301) 838-2500 (Registrant's telephone number, including area code) (Ma ...

Core Insights - Supernus Pharmaceuticals reported strong financial results for Q1 2025, highlighting double-digit revenue growth from core products and adjusted operating earnings growth [2][7][12] - The company launched ONAPGO, a new treatment for Parkinson's disease, which is expected to drive further growth [2][8] Financial Performance - Q1 2025 net sales of Qelbree increased by 44% to $64.7 million compared to Q1 2024 [7] - Q1 2025 net sales of GOCOVRI increased by 16% to $30.7 million compared to Q1 2024 [7] - Total revenues for Q1 2025 increased by 4% to $149.8 million compared to Q1 2024 [7] - Adjusted operating earnings for Q1 2025 increased by 16% to $25.9 million [12] Product Pipeline - SPN-817, a novel AChE inhibitor for epilepsy, is currently in a Phase 2b study with approximately 258 patients [3] - SPN-820, aimed at treating major depressive disorder, will enter a Phase 2b trial with around 200 adults [4] - SPN-443, a novel stimulant for ADHD, completed a Phase 1 study and will announce a lead indication by the end of 2025 [5] Market and Prescription Trends - Total IQVIA prescriptions for Qelbree reached 214,908 in Q1 2025, a 22% increase year-over-year [8] - The number of prescribers for Qelbree grew to approximately 34,416 in Q1 2025, up from 27,902 in the same period last year [8] Financial Guidance - The company reiterated its full-year 2025 financial guidance, projecting total revenues between $600 million and $630 million [11] - Combined R&D and SG&A expenses are expected to be between $435 million and $460 million [11]

Core Viewpoint - Supernus Pharmaceuticals (SUPN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook driven by an upward trend in earnings estimates [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of changing earnings estimates, which significantly influence stock price movements [4][6]. - Rising earnings estimates for Supernus suggest an improvement in the company's underlying business, likely leading to higher stock prices [5]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - Supernus's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10]. Earnings Estimate Revisions for Supernus - For the fiscal year ending December 2025, Supernus is expected to earn $2.06 per share, reflecting a year-over-year decline of -34.4% [8]. - Over the past three months, the Zacks Consensus Estimate for Supernus has increased by 12.4%, indicating positive revisions from analysts [8].

Company Overview - Supernus Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases [4]. - The company's diverse neuroscience portfolio includes approved treatments for ADHD, dyskinesia in Parkinson's disease, hypomobility in Parkinson's disease, epilepsy, migraine, cervical dystonia, and chronic sialorrhea [5]. Upcoming Financial Results - The company expects to report financial and business results for the first quarter of 2025 after the market closes on May 6, 2025 [1]. - A conference call will be hosted by Jack Khattar, President and CEO, and Tim Dec, Senior Vice President and CFO, on the same day at 4:30 p.m. ET to present these results [2]. Conference Call Details - Participants can pre-register for the conference call and will receive a dial-in number with a personalized conference code [3]. - A live webcast of the call will be available on the company's Investor Relations website, and a replay will be accessible for 60 days following the live call [3].

A downtrend has been apparent in Supernus Pharmaceuticals (SUPN) lately with too much selling pressure. The stock has declined 20.1% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indic ...

Company Overview - Supernus Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases [3][4] - The company's diverse neuroscience portfolio includes approved treatments for ADHD, dyskinesia in Parkinson's disease, hypomobility in Parkinson's disease, epilepsy, migraine, cervical dystonia, and chronic sialorrhea [4] Upcoming Events - Jack Khattar, President and CEO of Supernus Pharmaceuticals, will participate in the Barclays Global Healthcare Conference on March 11, 2025, with a fireside chat scheduled for 12:30 p.m. ET [1] - The company will also be present at the Jefferies Biotech on the Beach Summit on March 12, 2025 [1] Investor Relations - A live audio webcast of the fireside chat at the Barclays Global Healthcare Conference will be available on the company's website, with an archived replay accessible for 60 days post-conference [2]

Core Insights - Supernus Pharmaceuticals, Inc. is participating in the TD Cowen 45th Annual Health Care Conference on March 3, 2025, where CEO Jack A. Khattar will engage in a fireside chat [1][2] Company Overview - Supernus Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases [3] - The company's diverse neuroscience portfolio includes approved treatments for ADHD, dyskinesia in Parkinson's disease, hypomobility in Parkinson's disease, epilepsy, migraine, cervical dystonia, and chronic sialorrhea [4] - Supernus is also developing a range of novel CNS product candidates targeting epilepsy, depression, and other CNS disorders [4]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $174.2 million, compared to $164.3 million in Q4 2023, representing an increase [24] - Total revenues for the full year 2024 were $661.8 million, up from $607.5 million in 2023, marking an increase of approximately 9% [26] - GAAP net earnings for Q4 2024 were $15.3 million or $0.27 per diluted share, compared to $1.2 million or $0.02 per diluted share in Q4 2023 [25] - Adjusted operating earnings for Q4 2024 were $48.3 million, compared to $47.1 million in the same quarter last year [25] - As of December 31, 2024, the company had approximately $454 million in cash, cash equivalents, and marketable securities, compared to $271 million as of December 31, 2023 [28] Business Line Data and Key Metrics Changes - Qelbree's annual prescriptions grew by 25% in 2024, with net sales increasing by 72%, reaching $74 million in Q4 2024, a 60% increase over Q4 2023 [9][10] - GOCOVRI's net sales increased by 9% for the full year 2024 and by 15% in Q4 2024, reaching $37 million [14] - Combined net sales of Trokendi XR and Oxtellar XR were down 22% for the full year 2024, with a further decline expected in 2025 [16] Market Data and Key Metrics Changes - The ADHD market grew by 9% in 2024, with Qelbree's growth significantly outpacing this at 25% [36] - Qelbree's market share in the adult segment is approximately 30% to 32%, indicating room for growth [61] Company Strategy and Development Direction - The company is focused on driving growth from core products, particularly Qelbree, and launching ONAPGO in Q2 2025 [116] - Corporate development remains a top priority, with a focus on acquiring revenue-generating products and late-stage pipeline candidates [22][42] - The company is open to exploring opportunities beyond CNS, including areas like dermatology and rare diseases [108] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite the loss of exclusivity on legacy products, emphasizing strong cash flow generation [115] - The company anticipates total revenues for 2025 to range from $600 million to $630 million, with combined R&D and SG&A expenses expected to be between $435 million and $460 million [30] Other Important Information - The company received a two-plus year patent term extension for Qelbree, extending its expiration date to 2025 [14] - The FDA approved ONAPGO, the first subcutaneous apomorphine infusion device for advanced Parkinson's disease, with a launch targeted for Q2 2025 [15] Q&A Session Summary Question: What is the expected revenue range for Qelbree in 2025? - Management indicated that a range of $2.65 to $2.95 billion for Qelbree is a fair estimate, with continued prescription growth as a key driver [33][35] Question: What are the key levers for sales growth in 2025? - Continued prescription growth is expected to be a significant factor, with management noting high patient satisfaction rates [36][38] Question: What is the competitive landscape for Qelbree? - Management stated that it is difficult to comment on competition until more data is available, but they believe Qelbree has a significant head start in the non-stimulant market [89][93] Question: What are the expectations for the ONAPGO launch? - The launch is expected to be a slow build, with minimal sales expectations embedded in the 2025 guidance [72][73] Question: What share of ADHD patients have comorbidities? - Management noted that 40% to 60% of ADHD patients may have comorbidities, which presents an opportunity for Qelbree [100][102]

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]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $174.2 million, up from $164.3 million in Q4 2023, with net product sales of $166.4 million and royalty, licensing, and other revenues of $7.8 million [24] - For the full year 2024, total revenues were $661.8 million compared to $607.5 million in 2023, with net product sales of $637.7 million and royalty, licensing, and other revenues of $24.1 million [26] - GAAP net earnings for Q4 2024 were $15.3 million or $0.27 per diluted share, compared to $1.2 million or $0.02 per diluted share in Q4 2023 [25] - Non-GAAP adjusted operating earnings for Q4 2024 were $48.3 million, compared to $47.1 million in the same quarter last year [25] - As of December 31, 2024, the company had approximately $454 million in cash, cash equivalents, and marketable securities, up from $271 million a year earlier [28] Business Line Data and Key Metrics Changes - Qelbree's annual prescriptions grew by 25% in 2024, with net sales reaching $74 million, a 60% increase over Q4 2023 [10] - GOCOVRI's net sales increased by 9% for the full year 2024 and by 15% in Q4 2024, reaching $37 million [14] - Combined net sales of Trokendi XR and Oxtellar XR were down 22% for the full year 2024, with a further decline expected in 2025 [16] Market Data and Key Metrics Changes - The ADHD market grew by 9% in 2024, with Qelbree's growth significantly outpacing this at 25% [36] - Qelbree's market share in the adult segment is approximately 30% to 32%, indicating room for growth [61] Company Strategy and Development Direction - The company is focused on driving growth from core products, particularly Qelbree, and launching ONAPGO in Q2 2025 [116] - Corporate development remains a top priority, with an emphasis on acquiring revenue-generating products and late-stage pipeline candidates [22][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite the loss of exclusivity on Trokendi XR and Oxtellar XR, with a strong emphasis on Qelbree's performance [8][115] - The company anticipates total revenues for 2025 to range from $600 million to $630 million, factoring in expected declines in legacy product sales [30] Other Important Information - The company received a two-plus year patent term extension for Qelbree, extending its patent expiration to 2025 [14] - The FDA approved ONAPGO, a new product for treating motor fluctuations in advanced Parkinson's disease, with a launch planned for Q2 2025 [15] Q&A Session Summary Question: What is the expected revenue range for Qelbree in 2025? - Management indicated that a range of $2.65 to $2.95 billion for Qelbree is a fair estimate, with continued prescription growth as a key driver [33][35] Question: What are the key levers for sales growth this year? - Key levers include continued prescription growth and market penetration, with a focus on adult patients [36][38] Question: What is the competitive landscape for Qelbree? - Management noted that it is difficult to assess the competitive landscape until more data is available from other non-stimulant products [89][92] Question: What is the pricing strategy for ONAPGO? - The pricing for ONAPGO is competitive within the marketplace, though specific figures were not disclosed [94] Question: What percentage of ADHD patients have comorbidities? - Estimates suggest that 40% to 60% of ADHD patients have comorbidities, which can complicate treatment [100][102] Question: What are the company's priorities for business development? - The company is looking for commercial products and mid to late-stage pipeline assets, with flexibility in therapeutic areas [42][106]