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
financial results for the fourth quarter and full year of 2023 and
associated Company developments.
“Our performance in 2023 underscores our strong
execution, with combined full year 2023 net sales of $259.8 million
for our growth products, Qelbree and GOCOVRI, which far exceeded
the decline in net sales of Trokendi XR. Furthermore, that
represents 57% growth compared to full year 2022" said Jack
Khattar, President and CEO of Supernus. "Qelbree delivered robust
growth of 91% in prescriptions and benefited from a much improved
gross-to-net adjustment resulting in 129%, growth in net
sales."
Mr. Khattar added, "In 2024, we look forward to
continued growth across our key growth products and the launch of
SPN-830 in the second half of 2024 as we complete the transition
from our legacy products to our growth products. In addition, in
2024 we anticipate several exciting clinical milestones as we
progress our pipeline of novel product candidates."
Qelbree Update
- Total IQVIA
prescriptions were 617,192 for full year 2023, an increase of 91%
compared to full year 2022.
- The Company
initiated a Phase IV open-label study to assess the efficacy of
Qelbree over the course of 14 weeks of treatment in approximately
500 adults with attention deficit hyperactivity disorder (ADHD) and
mood symptoms. The primary outcome measure is change from baseline
in the Adult ADHD Investigator Symptom Rating Scale (AISRS).
Product Pipeline Update
SPN-830 (apomorphine infusion device) for treatment of
Parkinson's disease (PD)
- As previously
disclosed, the U.S. Food and Drug Administration (FDA) accepted the
resubmission of the New Drug Application for SPN-830 for continuous
treatment of motor fluctuations ("off" episodes) in PD and set a
user fee goal date (PDUFA date) of April 5, 2024.
- Assuming FDA
approval, the Company expects to launch SPN-830 in the second half
of 2024.
SPN-820 – Novel first-in-class molecule that
increases mTORC1 mediated synaptic function for depression
- The Phase IIb
multi-center randomized double-blind placebo-controlled parallel
design study of SPN-820 in adults with treatment-resistant
depression is ongoing. The study is examining efficacy and safety
of SPN-820 over a course of five weeks of treatment in
approximately 268 patients in up to 50 clinical sites. The primary
outcome measure is the change from baseline to end of treatment
period on the Montgomery-Asberg Depression Rating Scale (MADRS)
Total Score. Approximately 118 patients have been enrolled in the
trial, to date. Topline data from the Phase IIb trial is expected
in the first half of 2025.
- The Company has
initiated a Phase II open-label study in approximately 40 subjects
with major depressive disorder (MDD). The primary objective of the
study is to assess efficacy in MDD, as well as onset of
efficacy.
SPN-817 – Novel first-in-class highly selective AChE inhibitor
for epilepsy
- An open-label
Phase IIa clinical study of SPN-817 for treatment-resistant
seizures is ongoing. The study is examining the safety and
tolerability of SPN-817 as adjunctive therapy in adult patients
with treatment-resistant seizures, as well as assessing efficacy.
The Company expects to report interim results from approximately
one-half of the targeted randomized patients in May 2024, and
topline results for the full study in the second half of 2024.
- The Company now
expects to initiate a Phase IIb randomized, double-blind,
placebo-controlled study in approximately 436 patients with
treatment-resistant focal seizures in the second half of 2024. The
primary endpoint is change from baseline in focal seizure frequency
per 28 days. Topline results from the Phase IIb study are expected
in 2026.
SPN-443 – Novel stimulant for ADHD/CNS
- The Company plans
to initiate a Phase I single dose study in healthy adults in 2024
following submission of an Investigational New Drug application.
The primary objective of the study is to assess safety and
tolerability.
Financial Highlights
Total revenues (GAAP and non-GAAP)
For the three months ended December 31, 2023,
total revenues and total net product sales (GAAP) were
$164.3 million and $156.0 million, respectively, compared to
total revenues and total net product sales of $167.3 million
and $163.8 million for the same periods in 2022. For the full year
ended December 31, 2023, total revenues and total net product sales
were $607.5 million and $573.9 million, respectively, compared
to total revenues and total net product sales of
$667.2 million and $649.4 million for the same periods in
2022. The decrease in net product sales in both periods was
primarily due to the decline in net product sales of Trokendi XR.
This decline in net product sales of Trokendi XR was partially
offset by primarily an increase in net product sales of Qelbree and
GOCOVRI for the three months ended December 31, 2023, and an
increase in net product sales of Qelbree and GOCOVRI for the full
year ended December 31, 2023.
Total revenues excluding Trokendi XR net product
sales (non-GAAP) for the three months and full year ended December
31, 2023, increased 31% and 26%, respectively, compared to the same
periods in 2022.
The following table provides information
regarding total revenues during the three months and full year
ended December 31, 2023 and 2022 (dollars in millions):
|
Three Months Ended December
31, |
|
|
Full Year Ended December 31, |
|
|
|
2023 |
|
2022 |
|
Change % |
|
2023 |
|
2022 |
|
Change % |
Total net product sales |
$ |
156.0 |
|
$ |
163.8 |
|
(5)% |
|
$ |
573.9 |
|
$ |
649.4 |
|
(12)% |
Royalty and licensing revenues
(1) |
|
8.3 |
|
|
3.5 |
|
134% |
|
|
33.6 |
|
|
17.8 |
|
89% |
Total revenues (GAAP) |
$ |
164.3 |
|
$ |
167.3 |
|
(2)% |
|
$ |
607.5 |
|
$ |
667.2 |
|
(9)% |
Total revenues excluding Trokendi
XR net product sales (non-GAAP) |
$ |
144.7 |
|
$ |
110.1 |
|
31% |
|
$ |
513.2 |
|
$ |
406.0 |
|
26% |
___________________________________________(1) Royalty and
licensing revenues include royalties on generic Trokendi XR, other
licensed products and intellectual property.
The following table provides information
regarding total net product sales during the three months and full
year ended December 31, 2023 and 2022 (dollars in millions):
|
Three Months EndedDecember
31, |
|
|
Full Year EndedDecember 31, |
|
|
2023 |
|
2022 |
|
Change % |
|
2023 |
|
2022 |
|
Change % |
Net product sales |
|
|
|
|
|
|
|
|
|
|
|
Qelbree |
$ |
46.4 |
|
$ |
23.6 |
|
97% |
|
$ |
140.2 |
|
$ |
61.3 |
|
129% |
GOCOVRI |
|
32.0 |
|
|
29.2 |
|
10% |
|
|
119.6 |
|
|
104.4 |
|
15% |
Oxtellar XR® |
|
31.0 |
|
|
27.4 |
|
13% |
|
|
113.4 |
|
|
115.4 |
|
(2)% |
Trokendi XR |
|
19.6 |
|
|
57.2 |
|
(66)% |
|
|
94.3 |
|
|
261.2 |
|
(64)% |
APOKYN® |
|
18.7 |
|
|
18.1 |
|
3% |
|
|
75.1 |
|
|
75.3 |
|
—% |
Other(1) |
|
8.3 |
|
|
8.3 |
|
—% |
|
|
31.3 |
|
|
31.8 |
|
(2)% |
Total net product sales |
$ |
156.0 |
|
$ |
163.8 |
|
(5)% |
|
$ |
573.9 |
|
$ |
649.4 |
|
(12)% |
___________________________________________(1) Includes net
product sales of MYOBLOC®, XADAGO® and Osmolex ER®.
Operating earnings (loss) (GAAP and
non-GAAP)
For the three months ended December 31, 2023,
operating loss (GAAP) was $(1.0) million, compared to
operating earnings (GAAP) of $34.3 million for the same period
in 2022. For the full year ended December 31, 2023, operating loss
(GAAP) was $(5.3) million, compared to operating earnings
(GAAP) of $46.1 million for the full year 2022. The decrease
in operating earnings (GAAP) in the fourth quarter of 2023 compared
to the same period in 2022 was primarily due to the
$20.2 million intangible asset impairment charges, mainly
related to XADAGO, as well as higher research and development
expenses and selling and marketing expenses. The decrease in
operating earnings (GAAP) for the full year ended December 31, 2023
compared to same period in 2022 was primarily due to a decrease in
net product sales of Trokendi XR, the aforementioned impairment
charges partially offset by the growth in net product sales of
Qelbree and GOCOVRI and a decrease in selling, general and
administrative expenses in 2023.
For the three months ended December 31, 2023,
operating earnings (non-GAAP) were $47.1 million, compared to
$57.6 million for the same period in 2022. For the full year
ended December 31, 2023, operating earnings (non-GAAP) were
$125.1 million, compared to $148.8 million for the full
year 2022.
Reconciliation of GAAP Operating earnings (loss)
to Non-GAAP Operating earnings
An itemized reconciliation between operating
earnings on a GAAP basis and operating earnings on a non-GAAP basis
is as follows (dollars in millions):
|
Three Months EndedDecember
31, |
|
Full Year EndedDecember 31, |
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Operating earnings
(loss) - As Reported (GAAP) |
$ |
(1.0 |
) |
|
$ |
34.3 |
|
|
$ |
(5.3 |
) |
|
$ |
46.1 |
|
Adjustments: |
|
|
|
|
|
|
|
Amortization of intangible assets |
|
21.1 |
|
|
|
20.7 |
|
|
|
82.4 |
|
|
|
82.6 |
|
Share-based compensation |
|
6.4 |
|
|
|
4.3 |
|
|
|
26.8 |
|
|
|
17.6 |
|
Contingent consideration gain |
|
(0.2 |
) |
|
|
(2.4 |
) |
|
|
(1.5 |
) |
|
|
(0.5 |
) |
Intangible asset impairment charges |
|
20.2 |
|
|
|
— |
|
|
|
20.2 |
|
|
|
— |
|
Depreciation |
|
0.6 |
|
|
|
0.7 |
|
|
|
2.5 |
|
|
|
3.0 |
|
Operating earnings -
As Adjusted (non-GAAP) |
$ |
47.1 |
|
|
$ |
57.6 |
|
|
$ |
125.1 |
|
|
$ |
148.8 |
|
Non-GAAP operating earnings adjusts for non-cash
items including amortization of intangible assets, share-based
compensation expense, change in fair value of contingent
consideration, impairment charges and depreciation.
Net earnings (GAAP)
For the three months ended December 31,
2023, net earnings (GAAP) and diluted earnings per share (GAAP)
were $1.2 million and $0.02, respectively, as compared to
$25.5 million and $0.43, respectively in the same period in
2022.
For the full year ended December 31, 2023,
net earnings (GAAP) and diluted earnings per share (GAAP) were
$1.3 million and $0.02, respectively, as compared to
$60.7 million and $1.04, respectively in the same period in
2022.
Balance sheet
At December 31, 2023, the Company’s cash,
cash equivalents, current and long-term marketable securities were
approximately $271.5 million, compared to $555.2 million as of
December 31, 2022. This decrease was primarily due to
repayment of the Company's $402.5 million 0.625% Convertible Senior
Notes due 2023, partially offset by cash generated from
operations.
Full Year 2024 Financial Guidance (GAAP)
|
Amount |
Total revenues (includes
approximately $125 - $135 million of Trokendi XR and Oxtellar XR
(1)(2)) |
$580 - $620 |
Combined R&D and SG&A
expenses |
$430 - $460 |
Operating loss (3) |
$(30) - $(0) |
___________________________________________(1) Includes net
product sales and royalty and licensing revenue.(2) Reflects
generic erosion of Trokendi XR and Oxtellar XR beginning in
September 2024.(3) Includes amortization of intangible assets and
contingent consideration expense (gain).
Full Year 2024 Financial Guidance - GAAP to Non-GAAP
Adjustments
An itemized reconciliation between projected
operating loss on a GAAP basis and projected operating earnings on
a non-GAAP basis is as follows (dollars in millions):
|
Amount |
Operating earnings
(loss) - GAAP |
$(30) - $0 |
Adjustments: |
|
Amortization of intangible assets |
$80 - $81 |
Share-based compensation |
$27 - $29 |
Contingent consideration |
$1 - $2 |
Depreciation |
$2 - $3 |
Operating earnings -
non-GAAP |
$80 - $110 |
Non-GAAP Financial Information
This press release contains financial measures
that present financial information which do not comply with United
States generally accepted accounting principles (GAAP). The
non-GAAP financial measures should be considered in addition to,
not as a substitute for or in isolation from, or superior to
measures prepared in accordance with GAAP. Non-GAAP operating
earnings adjusts for non-cash share-based compensation expense,
depreciation and amortization, intangible asset impairment charges
and accretion of contingent consideration, and for factors that are
unusual, non-recurring or unpredictable, and excludes those costs,
expenses, and other specified items presented in the reconciliation
tables in this press release. In addition to non-GAAP operating
earnings, we also present total revenues excluding net product
sales of products without exclusivity due to generic entrants,
which is a non-GAAP measure and is calculated as total revenues
(GAAP) less net product sales of our products without exclusivity
due to generic entrants, which as of the date of this press
release, is equal to net product sales of Trokendi XR (GAAP).
Beginning in the year a product loses exclusivity due to generic
entrants we generally do not expect net product sales of such
products to constitute a significant part of our revenue in the
future. We believe that the use of non-GAAP financial measures
provides useful supplemental information to management, investors,
analysts and others regarding the Company’s revenue and results of
operations and assist management, investors, analysts, and others
in understanding and evaluating our revenue growth and the
performance of the business.
There are limitations associated with the use of
non-GAAP financial measures and therefore comparability may be
limited. These limitations include: non-GAAP financial measures
that may not be entirely comparable to similarly titled measures
used by other companies; these may not reflect all items of income
and expense, as applicable, that affect our operations; there may
be potential differences among calculation methodologies; these may
differ from the non-GAAP information used by other companies,
including peer companies. We mitigate these limitations by
reconciling the non-GAAP financial measure to the most comparable
GAAP financial measure. Investors are encouraged to review the
reconciliation. The Company’s 2024 financial guidance is also being
provided on both a GAAP and a non-GAAP basis.
Reconciliation of GAAP Total revenues to
Non-GAAP Total revenues excluding net product sales of Trokendi
XR
An itemized reconciliation between total
revenues on a GAAP basis and Total revenues excluding net product
sales of Trokendi XR, a non-GAAP measure, is as follows (unaudited,
dollars in millions):
|
Three Months Ended December
31, |
|
|
|
Twelve Months Ended December
31, |
|
|
|
2023 |
|
2022 |
|
Change % |
|
2023 |
|
2022 |
|
Change % |
Total revenues (GAAP) (1) |
$ |
164.3 |
|
$ |
167.3 |
|
(2)% |
|
$ |
607.5 |
|
$ |
667.2 |
|
(9)% |
Less: Trokendi XR net product
sales |
|
19.6 |
|
|
57.2 |
|
(66)% |
|
|
94.3 |
|
|
261.2 |
|
(64)% |
Total revenues excluding
Trokendi XR net product sales (Non-GAAP) |
$ |
144.7 |
|
$ |
110.1 |
|
31% |
|
$ |
513.2 |
|
$ |
406.0 |
|
26% |
___________________________________________(1)
Includes net product sales and royalty and licensing revenues.
Conference Call Details
Supernus will host a conference call and webcast
today, February 27, 2024, at 4:30 p.m. Eastern Time to discuss
these results.A live webcast will be available in the Events &
Presentations section of the Company’s Investor Relations website
www.supernus.com/investors.
Participants may also pre-register any time
before the call here. Once registration is completed, participants
will be provided a dial-in number with a personalized conference
code to access the call. Please dial in 15 minutes prior to the
start time.
Following the live call, a replay will be
available on the Company's Investor Relations website
www.supernus.com/investors. The webcast will be available on the
Company’s website for 60 days following the live call.
About Supernus Pharmaceuticals,
Inc.
Supernus Pharmaceuticals is a biopharmaceutical
company focused on developing and commercializing products for the
treatment of central nervous system (CNS) diseases.
Our diverse neuroscience portfolio includes
approved treatments for epilepsy, migraine, ADHD, hypomobility in
Parkinson’s disease (PD), cervical dystonia, chronic sialorrhea,
dyskinesia in PD patients receiving levodopa-based therapy, and
drug-induced extrapyramidal reactions in adult patients. We are
developing a broad range of novel CNS product candidates including
new potential treatments for hypomobility in PD, epilepsy,
depression, and other CNS disorders.
For more information, please visit
www.supernus.com.
Forward-Looking Statements
This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements do not convey historical
information but relate to predicted or potential future events that
are based upon management's current expectations. These statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements. In addition to the factors mentioned in this press
release, such risks and uncertainties include, but are not limited
to, the Company’s ability to sustain and increase its
profitability; the Company’s ability to raise sufficient capital to
fully implement its corporate strategy; the implementation of the
Company’s corporate strategy; the Company’s future financial
performance and projected expenditures; the Company’s ability to
increase the number of prescriptions written for each of its
products and the products of its subsidiaries; the Company’s
ability to increase its net revenue; the Company’s ability to
commercialize its products and the products of its subsidiaries;
the Company’s ability to enter into future collaborations with
pharmaceutical companies and academic institutions or to obtain
funding from government agencies; the Company’s product research
and development activities, including the timing and progress of
the Company’s clinical trials, and projected expenditures; the
Company’s ability to receive, and the timing of any receipt of,
regulatory approvals to develop and commercialize the Company’s
product candidates; the Company’s ability to protect its
intellectual property and the intellectual property of its
subsidiaries and operate its business without infringing upon the
intellectual property rights of others; the Company’s expectations
regarding federal, state and foreign regulatory requirements; the
therapeutic benefits, effectiveness and safety of the Company’s
product candidates; the accuracy of the Company’s estimates of the
size and characteristics of the markets that may be addressed by
its product candidates; the Company’s ability to increase its
manufacturing capabilities for its products and product candidates;
the Company’s projected markets and growth in markets; the
Company’s product formulations and patient needs and potential
funding sources; the Company’s staffing needs; the Company’s
ability to increase the number of prescriptions written for each of
its products and the products of its subsidiaries; the Company’s
ability to increase its net revenue from its products and the
products of its subsidiaries; and other risk factors set forth from
time to time in the Company’s filings with the Securities and
Exchange Commission made pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended. The Company undertakes
no obligation to update the information in this press release to
reflect events or circumstances after the date hereof or to reflect
the occurrence of anticipated or unanticipated events.
Supernus
Pharmaceuticals, Inc.Consolidated Balance
Sheets(in thousands, except share
data) |
|
|
December 31, |
|
December 31, |
|
|
2023 |
|
|
|
2022 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
$ |
75,054 |
|
|
$ |
93,120 |
|
Marketable securities |
|
179,820 |
|
|
|
368,214 |
|
Accounts receivable, net |
|
144,155 |
|
|
|
165,497 |
|
Inventories, net |
|
77,408 |
|
|
|
91,541 |
|
Prepaid expenses and other current assets |
|
16,676 |
|
|
|
15,779 |
|
Total current
assets |
|
493,113 |
|
|
|
734,151 |
|
Long term marketable securities |
|
16,617 |
|
|
|
93,896 |
|
Property and equipment, net |
|
13,530 |
|
|
|
15,173 |
|
Intangible assets, net |
|
599,889 |
|
|
|
702,463 |
|
Goodwill |
|
117,019 |
|
|
|
117,019 |
|
Other assets |
|
37,505 |
|
|
|
39,806 |
|
Total
assets |
$ |
1,277,673 |
|
|
$ |
1,702,508 |
|
|
|
|
|
Liabilities and
stockholders’ equity |
|
|
|
Current liabilities |
|
|
|
Accounts payable and accrued liabilities |
$ |
79,569 |
|
|
$ |
96,342 |
|
Accrued product returns and rebates |
|
154,274 |
|
|
|
151,665 |
|
Contingent consideration, current portion |
|
52,070 |
|
|
|
21,120 |
|
Convertible notes, net |
|
— |
|
|
|
401,968 |
|
Other current liabilities |
|
4,283 |
|
|
|
16,863 |
|
Total current
liabilities |
|
290,196 |
|
|
|
687,958 |
|
Contingent consideration, long term |
|
1,380 |
|
|
|
33,847 |
|
Operating lease liabilities, long term |
|
33,196 |
|
|
|
35,998 |
|
Deferred income tax liabilities, net |
|
24,963 |
|
|
|
49,809 |
|
Other liabilities |
|
6,422 |
|
|
|
8,692 |
|
Total
liabilities |
|
356,157 |
|
|
|
816,304 |
|
|
|
|
|
Stockholders’
equity |
|
|
|
Common stock, $0.001 par value; 130,000,000 shares authorized;
54,723,356 and 54,253,796 shares issued and outstanding as of
December 31, 2023 and December 31, 2022, respectively |
|
55 |
|
|
|
54 |
|
Additional paid-in capital |
|
439,493 |
|
|
|
408,115 |
|
Accumulated other comprehensive (loss) earnings, net of tax |
|
(593 |
) |
|
|
(3,210 |
) |
Retained earnings |
|
482,561 |
|
|
|
481,245 |
|
Total stockholders’
equity |
|
921,516 |
|
|
|
886,204 |
|
|
|
|
|
Total liabilities and
stockholders’ equity |
$ |
1,277,673 |
|
|
$ |
1,702,508 |
|
Supernus
Pharmaceuticals, Inc.Consolidated Statements
of Earnings(in thousands, except share and
per share
data) |
|
|
Three Months EndedDecember
31, |
|
Twelve Months EndedDecember
31, |
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Revenues |
|
|
|
|
|
|
|
Net product sales |
$ |
156,018 |
|
|
$ |
163,785 |
|
|
$ |
573,933 |
|
|
$ |
649,432 |
|
Royalty and licensing revenues |
|
8,296 |
|
|
|
3,543 |
|
|
|
33,588 |
|
|
|
17,806 |
|
Total revenues |
|
164,314 |
|
|
|
167,328 |
|
|
|
607,521 |
|
|
|
667,238 |
|
|
|
|
|
|
|
|
|
Costs and expenses |
|
|
|
|
|
|
|
Cost of goods sold (a) |
|
19,627 |
|
|
|
22,954 |
|
|
|
83,779 |
|
|
|
87,221 |
|
Research and development |
|
23,347 |
|
|
|
17,774 |
|
|
|
91,593 |
|
|
|
74,552 |
|
Selling, general and administrative |
|
81,282 |
|
|
|
73,972 |
|
|
|
336,361 |
|
|
|
377,221 |
|
Amortization of intangible assets |
|
21,069 |
|
|
|
20,698 |
|
|
|
82,385 |
|
|
|
82,630 |
|
Intangible asset impairment charges |
|
20,189 |
|
|
|
— |
|
|
|
20,189 |
|
|
|
— |
|
Contingent consideration gain |
|
(204 |
) |
|
|
(2,404 |
) |
|
|
(1,517 |
) |
|
|
(510 |
) |
Total costs and expenses |
|
165,310 |
|
|
|
132,994 |
|
|
|
612,790 |
|
|
|
621,114 |
|
|
|
|
|
|
|
|
|
Operating earnings (loss) |
|
(996 |
) |
|
|
34,334 |
|
|
|
(5,269 |
) |
|
|
46,124 |
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
Interest and other income, net |
|
1,986 |
|
|
|
2,400 |
|
|
|
10,453 |
|
|
|
21,689 |
|
Interest expense |
|
— |
|
|
|
(1,594 |
) |
|
|
(2,415 |
) |
|
|
(7,070 |
) |
Total other income (expense) |
|
1,986 |
|
|
|
806 |
|
|
|
8,038 |
|
|
|
14,619 |
|
|
|
|
|
|
|
|
|
Earnings before income taxes |
|
990 |
|
|
|
35,140 |
|
|
|
2,769 |
|
|
|
60,743 |
|
|
|
|
|
|
|
|
|
Income tax (benefit) expense |
|
(185 |
) |
|
|
9,659 |
|
|
|
1,453 |
|
|
|
32 |
|
Net earnings |
$ |
1,175 |
|
|
$ |
25,481 |
|
|
$ |
1,316 |
|
|
$ |
60,711 |
|
|
|
|
|
|
|
|
|
Earnings per share |
|
|
|
|
|
|
|
Basic |
$ |
0.02 |
|
|
$ |
0.47 |
|
|
$ |
0.02 |
|
|
$ |
1.13 |
|
Diluted |
$ |
0.02 |
|
|
$ |
0.43 |
|
|
$ |
0.02 |
|
|
$ |
1.04 |
|
|
|
|
|
|
|
|
|
Weighted-average shares
outstanding |
|
|
|
|
|
|
|
Basic |
|
54,647,835 |
|
|
|
54,104,908 |
|
|
|
54,536,281 |
|
|
|
53,665,143 |
|
Diluted |
|
55,301,319 |
|
|
|
62,087,687 |
|
|
|
55,506,828 |
|
|
|
61,679,800 |
|
___________________________________________(a) Excludes
amortization of intangible assets.
CONTACTS:
Jack A. Khattar, President and CEOTimothy C. Dec, Senior Vice
President and CFOSupernus Pharmaceuticals, Inc.(301) 838-2591
or
INVESTOR CONTACT:Peter VozzoICR Westwicke(443)
213-0505peter.vozzo@westwicke.com
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