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Supernus Provides Update on Filing of Annual Report and Reiterates Full Year 2022 Financial Guidance
Annual Report on Form 10-K for fiscal year ended December 31, 2021 to be filed in the near termReiterates full year 2022 financial guidance provided on
About this update from Supernus Pharmaceuticals, Inc.
[{"type":"text","content":"Annual Report on Form 10-K for fiscal year ended December 31, 2021 to be filed in the near termReiterates full year 2022 financial guidance provided on February 28, 2022 ROCKVILLE, Md., April 04, 2022 (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 that it expected to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Annual Report”) in the near term. Full Year 2022 Financial Guidance (GAAP) The Company reiterates the full year 2022 financial guidance initially announced on February 28, 2022 as set forth below: Amount ($ in millions)Total revenues (1)$640 - $680Combined R&D and SG&A expenses$460 - $490Operating earnings (2)$20 - $40Effective tax rate25% - 28% ___________________________________________(1) Includes net product sales and royalty revenue.(2) Includes amortization of intangible assets and contingent consideration expense (gain). Full Year 2022 Financial Guidance — GAAP to Non-GAAP Adjustments An itemized reconciliation between projected operating earnings on a GAAP basis and projected operating earnings on a non-GAAP basis is as follows: Amount ($ in millions)Operating earnings - GAAP$20 - $40Adjustments: Amortization of intangible assets$80 - $85Share-based compensation$20 - $25Contingent consideration$8 - $12Depreciation$2 - $3Operating earnings - non-GAAP$130 - $165 Non-GAAP Financial InformationThe Company’s 2022 financial guidance in this press release contains a financial measure, non-GAAP operating earnings, which does not comply with United States generally accepted accounting principles (GAAP). The non-GAAP financial measure 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, and accretion of contingent consideration, and for factors that are unusual or unpredictable, and exclude those costs, expenses, and other specified items presented in the reconciliation tables in this press release. We believe the use of non-GAAP operating earnings measure is useful supplemental information to investors regarding ...