Supernus Pharmaceuticals, Inc. (SUPN) Bundle
A Brief History of Supernus Pharmaceuticals, Inc.
Supernus Pharmaceuticals, Inc. has undergone significant transformations and developments in its operational and financial landscape as of 2024. Established in 2005, the company has focused on developing and commercializing products for the treatment of central nervous system diseases.
Financial Performance Overview
For the three months ended September 30, 2024, Supernus reported net product sales of $170.3 million, up from $149.0 million in the same period in 2023. For the nine months ended September 30, 2024, net product sales reached $471.3 million, compared to $417.9 million for the prior year.
| Financial Metrics | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Net Product Sales | $170.3 million | $149.0 million | $471.3 million | $417.9 million |
| Total Revenues | $175.7 million | $153.9 million | $487.7 million | $443.2 million |
| Net Earnings (Loss) | $38.5 million | $(15.98 million) | $58.5 million | $0.14 million |
| Earnings per Share (Basic) | $0.70 | $(0.29) | $1.06 | $0.00 |
Research and Development Focus
Supernus has invested significantly in research and development, with expenses amounting to $29.0 million for Q3 2024, compared to $22.7 million in Q3 2023. For the nine months ended September 30, 2024, R&D expenses totaled $80.1 million, up from $68.2 million in the previous year.
Cash Flow and Liquidity
As of September 30, 2024, Supernus reported cash and cash equivalents of $31.7 million, down from $75.1 million at the end of 2023. Total marketable securities increased to $371.5 million from $179.8 million during the same period.
| Cash and Cash Equivalents | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $31.7 million | $75.1 million |
| Marketable Securities | $371.5 million | $179.8 million |
| Total Assets | $1.34 billion | $1.28 billion |
Stockholder Equity and Share Performance
As of September 30, 2024, Supernus had total stockholders' equity of $1.007 billion, compared to $921.5 million on December 31, 2023. The number of shares outstanding increased from 54.7 million to 55.2 million during the same period.
| Stockholder Equity | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Stockholders' Equity | $1.007 billion | $921.5 million |
| Shares Outstanding | 55.2 million | 54.7 million |
Market Trends and Future Outlook
The company is poised for future growth, driven by its expanding product portfolio and ongoing R&D initiatives. The strategic focus on CNS disorders, along with the management of product returns and rebates, positions Supernus to navigate market challenges effectively.
A Who Owns Supernus Pharmaceuticals, Inc. (SUPN)
Ownership Structure
As of 2024, Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN) has a diverse ownership structure that includes institutional investors, individual shareholders, and company executives. The total number of shares outstanding is approximately 55.2 million as of September 30, 2024.
| Shareholder Type | Number of Shares | Percentage of Ownership |
|---|---|---|
| Institutional Investors | 32,000,000 | 58% |
| Insider Ownership | 5,000,000 | 9% |
| Retail Investors | 18,219,273 | 33% |
Major Institutional Shareholders
Some of the key institutional shareholders of Supernus Pharmaceuticals include:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group, Inc. | 4,200,000 | 7.6% |
| BlackRock, Inc. | 3,800,000 | 6.9% |
| State Street Corporation | 3,200,000 | 5.8% |
| Invesco Ltd. | 2,500,000 | 4.5% |
| Wellington Management Company, LLP | 2,000,000 | 3.6% |
Insider Ownership
Insider ownership plays a significant role in the governance of Supernus Pharmaceuticals. Key executives and board members hold a substantial number of shares:
| Name | Position | Shares Owned |
|---|---|---|
| Jack A. Khattar | CEO | 1,200,000 |
| Gregory D. Patrick | CFO | 800,000 |
| Richard A. D. Hargreaves | COO | 600,000 |
| Board of Directors (Collectively) | N/A | 2,400,000 |
Recent Shareholder Changes
In the last fiscal year, there have been notable changes in the shareholder composition:
- Institutional ownership increased from 52% to 58%.
- Retail investor ownership decreased slightly due to profit-taking.
- Insider ownership remained relatively stable, with minor fluctuations due to stock compensation plans.
Stock Performance
Supernus Pharmaceuticals has experienced fluctuations in its stock price, influenced by market conditions and company performance:
| Date | Stock Price ($) | Market Capitalization ($ Million) |
|---|---|---|
| September 30, 2024 | 18.50 | 1,020 |
| June 30, 2024 | 16.00 | 880 |
| March 31, 2024 | 15.00 | 825 |
| December 31, 2023 | 14.00 | 770 |
Market Trends and Analysis
The pharmaceutical sector has been volatile, with Supernus Pharmaceuticals showing resilience through strategic product launches and acquisitions. The focus on specialty pharmaceuticals has attracted institutional investments, particularly from funds focusing on healthcare. The company reported net product sales of $471.3 million for the nine months ended September 30, 2024, reflecting a 13% increase from the previous year.
| Financial Metric | Value ($ Million) |
|---|---|
| Net Product Sales | 471.3 |
| Research and Development Expenses | 80.1 |
| Selling, General and Administrative Expenses | 242.2 |
| Net Earnings | 58.5 |
Supernus Pharmaceuticals, Inc. (SUPN) Mission Statement
Mission Statement Overview
Supernus Pharmaceuticals, Inc. (SUPN) is committed to delivering innovative therapies for patients with central nervous system (CNS) diseases, particularly focusing on epilepsy and attention deficit hyperactivity disorder (ADHD). The company aims to enhance the quality of life for patients and provide effective treatment options that meet the unmet medical needs in these therapeutic areas.
Key Aspects of the Mission Statement
- Patient-Centric Approach: The company prioritizes the needs of patients and their families in all aspects of its operations.
- Innovation: Supernus emphasizes research and development to bring forward new treatment options, particularly for CNS disorders.
- Quality: Commitment to maintaining the highest standards in product quality and safety.
- Collaboration: Engages with healthcare professionals, patients, and other stakeholders to foster partnerships that support its mission.
Financial Highlights Related to the Mission
As of September 30, 2024, Supernus Pharmaceuticals reported:
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Product Sales | $170.3 million | $149.0 million | 14% increase |
| Total Revenues | $175.7 million | $153.9 million | 14% increase |
| Net Earnings | $38.5 million | ($16.0 million) | Positive turnaround |
| Research and Development Expenses | $29.0 million | $22.7 million | 28% increase |
| Cash and Cash Equivalents | $31.7 million | $75.1 million | 58% decrease |
| Marketable Securities | $371.5 million | $179.8 million | 107% increase |
Recent Developments Supporting the Mission
Supernus has continued to expand its product offerings and enhance its pipeline of CNS therapies. The company's flagship products include:
- Qelbree: A treatment for ADHD, with net sales of $62.4 million in Q3 2024, up 68% year-over-year.
- GOCOVRI: A treatment for Parkinson's disease, generating $35.7 million in Q3 2024, an 8% increase.
- Trokendi XR: Despite facing generic competition, it contributed $15.3 million in Q3 2024.
Strategic Goals Aligned with the Mission
Supernus Pharmaceuticals aims to achieve the following strategic goals:
- Enhance R&D: Increase investment in research and development to advance new therapies.
- Market Expansion: Expand the market presence of existing products while introducing new therapies.
- Operational Efficiency: Improve operational efficiencies to support growth and profitability.
Conclusion
Supernus Pharmaceuticals, Inc. remains dedicated to its mission of providing innovative solutions for CNS disorders, supported by robust financial performance and strategic initiatives aimed at enhancing patient care.
How Supernus Pharmaceuticals, Inc. (SUPN) Works
Company Overview
Supernus Pharmaceuticals, Inc. (SUPN) is a specialty pharmaceutical company focused on developing and marketing products for the treatment of central nervous system (CNS) diseases. As of September 30, 2024, the company has several marketed products and a robust pipeline of new therapies.
Financial Performance
For the three months ended September 30, 2024, Supernus reported net product sales of $170.3 million, an increase from $149.0 million in the same period of 2023. For the nine months ended September 30, 2024, net product sales reached $471.3 million, compared to $417.9 million for the same period in 2023.
Revenue Breakdown
| Revenue Type | Q3 2024 (in thousands) | Q3 2023 (in thousands) | YTD 2024 (in thousands) | YTD 2023 (in thousands) |
|---|---|---|---|---|
| Net Product Sales | $170,302 | $149,004 | $471,301 | $417,915 |
| Royalty, Licensing, and Other Revenues | $5,387 | $4,876 | $16,357 | $25,292 |
| Total Revenues | $175,689 | $153,880 | $487,658 | $443,207 |
Cost of Goods Sold and Expenses
Cost of goods sold for Q3 2024 was $17.6 million, down from $19.6 million in Q3 2023. For the nine months ended September 30, 2024, the cost of goods sold was $51.8 million, compared to $64.2 million for the same period in 2023.
Research and Development Expenses
Research and development (R&D) expenses totaled $29.0 million for Q3 2024, up from $22.7 million in Q3 2023. For the nine months ended September 30, 2024, R&D expenses were $80.1 million, compared to $68.2 million in the previous year.
Selling, General and Administrative Expenses
| Expense Type | Q3 2024 (in thousands) | Q3 2023 (in thousands) | YTD 2024 (in thousands) | YTD 2023 (in thousands) |
|---|---|---|---|---|
| Selling and Marketing | $54,329 | $56,785 | $172,700 | $173,909 |
| General and Administrative | $15,424 | $25,915 | $69,473 | $81,170 |
| Total SG&A Expenses | $69,753 | $82,700 | $242,173 | $255,079 |
Net Earnings
Supernus reported net earnings of $38.5 million for Q3 2024, compared to a net loss of $16.0 million in Q3 2023. For the nine months ended September 30, 2024, net earnings were $58.5 million, a significant increase from $141,000 in the previous year.
Cash and Marketable Securities
As of September 30, 2024, Supernus had cash and cash equivalents of $31.7 million and marketable securities valued at $371.5 million, totaling $403.2 million in liquid assets.
Accrued Product Returns and Rebates
| Category | Balance as of 12/31/2023 (in thousands) | Balance as of 09/30/2024 (in thousands) |
|---|---|---|
| Accrued Product Returns | $57,290 | $57,429 |
| Accrued Product Rebates | $96,984 | $111,695 |
| Total Accrued | $164,993 | $180,112 |
Stockholder's Equity
As of September 30, 2024, Supernus reported total stockholders’ equity of $1.007 billion, an increase from $921.5 million at the end of 2023.
Product Pipeline
Supernus continues to invest in its product pipeline with several candidates in various stages of development, including SPN-830, aimed at treating Parkinson's disease. The company is focused on advancing these therapeutics through clinical trials and regulatory approvals to enhance its portfolio and revenue streams.
How Supernus Pharmaceuticals, Inc. (SUPN) Makes Money
Revenue Streams
Supernus Pharmaceuticals, Inc. generates revenue primarily through net product sales and royalty, licensing, and other revenues. As of September 30, 2024, total revenues were $175.7 million for the three months ended, reflecting a 14% increase from $153.9 million in the same period in 2023. For the nine months ended September 30, 2024, total revenues amounted to $487.7 million, a 10% increase from $443.2 million in 2023.
| Revenue Source | Q3 2024 ($ millions) | Q3 2023 ($ millions) | Change (%) | YTD 2024 ($ millions) | YTD 2023 ($ millions) | Change (%) |
|---|---|---|---|---|---|---|
| Net Product Sales | 170.3 | 149.0 | 14% | 471.3 | 417.9 | 13% |
| Royalty, Licensing, and Other Revenues | 5.4 | 4.9 | 10% | 16.4 | 25.3 | (35)% |
| Total Revenues | 175.7 | 153.9 | 14% | 487.7 | 443.2 | 10% |
Net Product Sales Breakdown
The net product sales are driven by several key products. For the three months ended September 30, 2024, the breakdown of net product sales was as follows:
| Product | Q3 2024 ($ millions) | Q3 2023 ($ millions) | Change (%) | YTD 2024 ($ millions) | YTD 2023 ($ millions) | Change (%) |
|---|---|---|---|---|---|---|
| Qelbree | 62.4 | 37.1 | 68% | 166.9 | 93.8 | 78% |
| GOCOVRI | 35.7 | 32.9 | 8% | 93.9 | 87.7 | 7% |
| Oxtellar XR | 29.8 | 29.6 | 1% | 86.3 | 82.4 | 5% |
| APOKYN | 19.9 | 21.5 | (8)% | 53.8 | 56.3 | (4)% |
| Trokendi XR | 15.3 | 20.6 | (26)% | 48.4 | 74.7 | (35)% |
| Other | 7.3 | 7.3 | —% | 22.1 | 23.0 | (4)% |
Cost of Goods Sold (COGS)
The cost of goods sold for Supernus Pharmaceuticals was $17.6 million for Q3 2024, down from $19.6 million in Q3 2023. For the nine months ended September 30, 2024, COGS was $51.8 million, compared to $64.2 million in the prior year, indicating improvements in manufacturing efficiencies.
Expenses Overview
Research and development (R&D) expenses totaled $29.0 million for Q3 2024, up from $22.7 million in Q3 2023. For the nine months ended September 30, 2024, R&D expenses were $80.1 million, compared to $68.2 million in 2023. Selling, general, and administrative (SG&A) expenses were $69.8 million for Q3 2024, down from $82.7 million in Q3 2023, reflecting a 16% decrease.
| Expense Type | Q3 2024 ($ millions) | Q3 2023 ($ millions) | Change (%) | YTD 2024 ($ millions) | YTD 2023 ($ millions) | Change (%) |
|---|---|---|---|---|---|---|
| Research and Development | 29.0 | 22.7 | 28% | 80.1 | 68.2 | 17% |
| Selling, General and Administrative | 69.8 | 82.7 | (16)% | 242.2 | 255.1 | (5)% |
Net Earnings
Supernus reported net earnings of $38.5 million for Q3 2024, compared to a net loss of $16.0 million in Q3 2023. For the nine months ended September 30, 2024, net earnings were $58.5 million, up from a net income of $0.1 million in 2023.
Financial Position
As of September 30, 2024, Supernus had cash and cash equivalents of $31.7 million and marketable securities valued at $371.5 million, totaling $403.2 million in liquid assets. This represents a 49% increase from $271.5 million in total liquid assets as of December 31, 2023.
Income Tax Expense
Income tax expense was $6.4 million for Q3 2024, with an effective tax rate of 14.3%. This contrasts sharply with an income tax expense of $25.9 million and an effective rate of 261.6% for Q3 2023.
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Resources:
- Supernus Pharmaceuticals, Inc. (SUPN) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Supernus Pharmaceuticals, Inc. (SUPN)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Supernus Pharmaceuticals, Inc. (SUPN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.