Supernus Pharmaceuticals(US:SUPN)2021-02-28 06:50Financial Data and Key Metrics Changes - In 2020, the company reported record revenues of $520 million, a 32% increase from $392.8 million in 2019 [18] - Operating earnings for 2020 were $174 million, compared to $148.6 million in 2019 [24] - Net earnings for 2020 were $127 million, or $2.36 per diluted share, up from $113.1 million, or $2.10 per diluted share in 2019 [24] - For Q4 2020, total revenue was $143.6 million, a 43% increase from $100.4 million in Q4 2019 [19] Business Line Data and Key Metrics Changes - Trokendi XR achieved net sales of $320 million in 2020, an 8% growth over 2019 [13] - Oxtellar XR reached $99 million in net sales, representing a 12% growth compared to the previous year [13] - APOKYN generated $74 million in net sales for 2020, with $31 million in Q4 [15] - XADAGO saw a 1% decline in IMS prescriptions, while extended units grew by 3.8% [16] Market Data and Key Metrics Changes - The company is preparing for the potential launch of SPN-812 for pediatric ADHD patients, with a new PDUFA action date set for early April 2021 [9] - The adult ADHD market represents approximately half of the total ADHD market in the U.S., which is a significant opportunity for SPN-812 [10] Company Strategy and Development Direction - The company executed two key strategic transactions to diversify revenue and strengthen its pipeline, focusing on SPN-820 and SPN-830 [8] - The company aims to leverage its internal expertise in ADHD and CNS for the launch of SPN-812 [9] - The company is actively seeking strategic opportunities to enhance future growth and leadership in CNS [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential launch of SPN-812 and the overall growth trajectory despite uncertainties related to COVID-19 [59] - The company anticipates total revenues for 2021 to range from $550 million to $580 million, including an estimated $10 million from SPN-812 [26] - Management highlighted the importance of 2021 as an investment year to prepare for the launch of SPN-812 [27] Other Important Information - The company had $772.9 million in cash and marketable securities as of December 31, 2020, down from $938.8 million in 2019 [25] - SG&A expenses for 2020 were $200.7 million, up from $153.2 million in 2019, primarily due to commercialization efforts [21] Q&A Session Summary Question: Can you elaborate on the management of SPN-812 and pricing strategy? - Management indicated that discussions with payers are intensifying and are encouraged by the response to SPN-812 as a novel treatment option [33] - Pricing strategy remains undisclosed, with management stating that details will be revealed at launch [37] - The $10 million sales estimate for SPN-812 is considered conservative, with management emphasizing heavy investment in marketing and patient access initiatives [38] Question: What specific items need to be addressed for SPN-830's resubmission? - Management clarified that the refusal to file letter from the FDA requires additional testing and documentation, with a crucial meeting scheduled for March 2021 to clarify requirements [44] Question: Is acquiring another asset a priority given the new sales force? - Management stated that while leveraging the new sales force for additional psychiatric products is a consideration, the focus will remain on SPN-812 during its first year post-launch [46]