Supernus Pharma Q2 2024 10-Q Filed

TL;DR

SUPERNUS PHARMA 10-Q FILED: Q2 2024 REVENUE DATA RELEASED VS 2023

AI Summary

Supernus Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported royalty, license, and other revenue for the second quarter of 2024 and the first six months of 2024, comparing these figures to the same periods in 2023. The filing details financial performance and operational updates for the company.

Why It Matters

This filing provides investors with the latest financial results and operational details for Supernus Pharmaceuticals, offering insights into their performance and strategic direction.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Supernus faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-06-30 — Reporting Period End (Quarterly financial data pertains to this date.)
• 2024-01-01 — Year-to-Date Start (First six months of fiscal year 2024.)
• 2023-12-31 — Prior Year End (Comparison point for financial reporting.)

Key Players & Entities

• SUPERNUS PHARMACEUTICALS, INC. (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240806 (date) — Filing Date
• 2834 (industry_code) — Pharmaceutical Preparations SIC Code
• 301-838-2500 (phone_number) — Business Phone Number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share 55,105,387 SUPN The

Filing Documents

• supn-20240630.htm (10-Q) — 1087KB
• ex101-settlementagreementb.htm (EX-10.1) — 379KB
• supn-20240630x10qxex311.htm (EX-31.1) — 9KB
• supn-20240630x10qxex312.htm (EX-31.2) — 10KB
• supn-20240630x10qxex321.htm (EX-32.1) — 5KB
• supn-20240630x10qxex322.htm (EX-32.2) — 5KB
• supn-20240630_g1.jpg (GRAPHIC) — 88KB
• 0001356576-24-000051.txt ( ) — 7072KB
• supn-20240630.xsd (EX-101.SCH) — 43KB
• supn-20240630_cal.xml (EX-101.CAL) — 77KB
• supn-20240630_def.xml (EX-101.DEF) — 181KB
• supn-20240630_lab.xml (EX-101.LAB) — 590KB
• supn-20240630_pre.xml (EX-101.PRE) — 401KB
• supn-20240630_htm.xml (XML) — 965KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Earnings (Loss) 4 Condensed Consolidated Statements of Comprehensive Earnings ( Loss) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 32

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 36

SIGNATURES

SIGNATURES 37 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Supernus Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (in thousands, except share data) June 30, December 31, 2024 2023 (unaudited) Assets Current assets Cash and cash equivalents $ 52,089 $ 75,054 Marketable securities 295,098 179,820 Accounts receivable, net 152,494 144,155 Inventories, net 68,155 77,408 Prepaid expenses and other current assets 23,166 16,676 Total current assets 591,002 493,113 Long-term marketable securities — 16,617 Property and equipment, net 12,274 13,530 Intangible assets, net 559,644 599,889 Goodwill 117,019 117,019 Other assets 35,890 37,505 Total assets $ 1,315,829 $ 1,277,673 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued liabilities $ 82,611 $ 79,569 Accrued product returns and rebates 175,119 154,274 Contingent consideration, current portion 47,303 52,070 Other current liabilities 3,623 4,283 Total current liabilities 308,656 290,196 Contingent consideration, long-term 697 1,380 Operating lease liabilities, long-term 30,294 33,196 Deferred income tax liabilities, net 11,440 24,963 Other liabilities 7,288 6,422 Total liabilities 358,375 356,157 Commitments and contingencies (Note 15) Stockholders' equity Common stock, $ 0.001 par value; 130,000,000 shares authorized; 55,046,049 and 54,723,356 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 55 55 Additional paid-in capital 455,170 439,493 Accumulated other comprehensive loss, net of tax ( 372 ) ( 593 ) Retained earnings 502,601 482,561 Total stockholders' equity 957,454 921,516 Total liabilities and stockholders' equity $ 1,315,829 $ 1,277,673 See accompanying notes. 3 Table of Contents Supernus Pharmaceuticals, Inc. Condensed Consolidated Statements of Earnings (Loss) (in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (unaudited) (unaudit