Business
Supernus Announces First Quarter 2024 Financial Results
Net sales of Qelbree® increased 75% to $45.1 million compared to first quarter 2023.Total revenues were $143.6 million. Total revenues excluding Trokendi XR®
About this update from Supernus Pharmaceuticals, Inc.
[{"type":"text","content":"Net sales of Qelbree® increased 75% to $45.1 million compared to first quarter 2023.Total revenues were $143.6 million. Total revenues excluding Trokendi XR® and Oxtellar XR® net product sales (non-GAAP)(1) increased 12% to $100.7 million compared to first quarter 2023.Operating loss was $(3.2) million. Adjusted operating earnings (non-GAAP)(1) was $22.3 million.Reiterates full year 2024 financial guidance, including total revenue guidance of $580 million to $620 million, operating loss guidance of $(30) million to $0 million, and adjusted operating earnings (non-GAAP) guidance of $80 million to $110 million. ROCKVILLE, Md., May 08, 2024 (GLOBE NEWSWIRE) -- 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 first quarter of 2024 and associated Company developments. \"We are pleased to announce another strong quarter for Qelbree, which delivered robust growth of 75% in net sales compared to the same quarter in the prior year,\" said Jack Khattar, President and CEO of Supernus. \"We remain focused on driving the Company's long-term growth as we complete the transition from our legacy products to our growth products and as we progress our pipeline of novel product candidates.\" Business Highlights Qelbree Update Total IQVIA prescriptions were 176,503 for first quarter 2024, an increase of 31% compared to the prior year period.Patient enrollment is ongoing in the 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) In April 2024, the U.S. Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) in response to the Company’s New Drug Application (NDA) for SPN-830. The CRL indicates that the review cycle for the application is complete, but that the application is not ready for approval in its present form.The Company will announce the timing for its resubmission after further discussio...