Supernus Pharmaceuticals Files Q3 2024 10-Q

TL;DR

SUPERNUS Q3 10-Q FILED - REVENUE DETAILS INSIDE

AI Summary

Supernus Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported royalty, license, and other revenue for the third quarter of 2024 and the first nine months of 2024, with specific figures to be detailed within the full report. The filing also includes financial data related to assets, liabilities, and operational segments.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Supernus Pharmaceuticals, crucial for assessing the company's current health and future prospects.

Risk Assessment

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

Key Numbers

• 2024-09-30 — Period End Date (Latest reported quarter)
• 2024-01-01 to 2024-09-30 — Nine Month Period (Year-to-date financial reporting)

Key Players & Entities

• SUPERNUS PHARMACEUTICALS, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241104 (date) — Filing Date
• Rockville, MD (location) — Business Address

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share 55,219,273 SUPN The

Filing Documents

• supn-20240930.htm (10-Q) — 1123KB
• supn-20240930x10qxex311.htm (EX-31.1) — 9KB
• supn-20240930x10qxex312.htm (EX-31.2) — 10KB
• supn-20240930x10qxex321.htm (EX-32.1) — 5KB
• supn-20240930x10qxex322.htm (EX-32.2) — 5KB
• supn-20240930_g1.jpg (GRAPHIC) — 82KB
• 0001356576-24-000067.txt ( ) — 6524KB
• supn-20240930.xsd (EX-101.SCH) — 42KB
• supn-20240930_cal.xml (EX-101.CAL) — 74KB
• supn-20240930_def.xml (EX-101.DEF) — 163KB
• supn-20240930_lab.xml (EX-101.LAB) — 580KB
• supn-20240930_pre.xml (EX-101.PRE) — 390KB
• supn-20240930_htm.xml (XML) — 941KB

— 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 36

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 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 37

SIGNATURES

SIGNATURES 39 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Supernus Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (in thousands, except share data) September 30, December 31, 2024 2023 (unaudited) Assets Current assets Cash and cash equivalents $ 31,673 $ 75,054 Marketable securities 371,537 179,820 Accounts receivable, net 145,408 144,155 Inventories, net 63,981 77,408 Prepaid expenses and other current assets 27,404 16,676 Total current assets 640,003 493,113 Long-term marketable securities — 16,617 Property and equipment, net 11,876 13,530 Intangible assets, net 540,156 599,889 Goodwill 117,019 117,019 Other assets 33,647 37,505 Total assets $ 1,342,701 $ 1,277,673 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued liabilities $ 75,803 $ 79,569 Accrued product returns and rebates 169,124 154,274 Contingent consideration, current portion 46,581 52,070 Other current liabilities — 4,283 Total current liabilities 291,508 290,196 Contingent consideration, long-term 403 1,380 Operating lease liabilities, long-term 28,926 33,196 Deferred income tax liabilities, net 7,364 24,963 Other liabilities 7,350 6,422 Total liabilities 335,551 356,157 Commitments and contingencies (Note 14) Stockholders' equity Common stock, $ 0.001 par value; 130,000,000 shares authorized; 55,219,273 and 54,723,356 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 55 55 Additional paid-in capital 465,919 439,493 Accumulated other comprehensive earnings (loss), net of tax 78 ( 593 ) Retained earnings 541,098 482,561 Total stockholders' equity 1,007,150 921,516 Total liabilities and stockholders' equity $ 1,342,701 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 20