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Sep 30, 2020
Supernus Q3 2020 Earnings Report
Reported strong Q3 2020 financial results with increased net product sales and operating earnings.
Key Takeaways
Supernus Pharmaceuticals reported Q3 2020 total revenues of $155.1 million, including net product sales of $152.1 million. Operating earnings were $56.1 million, and net earnings were $40.0 million, or $0.74 per diluted share. The company increased its full-year 2020 net product sales guidance range to $500 million to $525 million and operating earnings guidance range to $145 million to $160 million.
Total revenues for Q3 2020 reached $155.1 million, with net product sales contributing $152.1 million and royalty revenues $3.0 million.
Operating earnings for Q3 2020 amounted to $56.1 million.
The company is preparing to launch SPN-812 in January 2021, pending FDA approval.
NDA for SPN-830 (Apomorphine infusion pump) was submitted to the FDA in September 2020.
Revenue by Segment
Forward Guidance
Supernus Pharmaceuticals revised its full-year 2020 financial guidance, inclusive of the impact of acquiring the CNS portfolio of US WorldMeds.
Positive Outlook
- Net product sales are expected to be in the range of $500 million to $525 million.
- Operating earnings (GAAP) are projected to be between $145 million and $160 million, including amortization of intangible assets.
- Commercial launch of SPN-812 is on track for January 2021, pending FDA approval.
- Topline data from the SPN-812 Phase III trial in adult ADHD patients is expected in Q1 2021.
- The company expects to launch SPN-830 in the fourth quarter of 2021, if approved by the FDA.
Challenges Ahead
- Research and development expenses are expected to be approximately $75 million.
- Selling, general, and administrative expenses are estimated to be between $215 million and $225 million.
- Amortization of intangible assets is projected to be $16 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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