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SUPN

Supernus Pharmaceuticals, Inc.

SUPN

Supernus Pharmaceuticals, Inc. • NASDAQ
$45.59 ▼ -1.45% (-0.67)
Market Cap $2.55 B
52w High $57.65
52w Low $29.16
Dividend Yield 0%
P/E -134.09
Volume 310.27K
Outstanding Shares 55.97M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $192.103M ▲ $204.003M ▲ $-45.117M ▼ -23.486% ▼ $-0.8 ▼ $-36.596M ▼
Q2-2025 $165.453M ▲ $136.485M ▼ $22.499M ▲ 13.598% ▲ $0.4 ▲ $33.499M ▲
Q1-2025 $149.824M ▼ $144.317M ▲ $-11.827M ▼ -7.894% ▼ $-0.21 ▼ $17.787M ▼
Q4-2024 $174.159M ▼ $126.656M ▲ $15.328M ▼ 8.801% ▼ $0.28 ▼ $45.227M ▼
Q3-2024 $175.689M $117.261M $38.497M 21.912% $0.7 $65.045M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $281.16M ▼ $1.42B ▲ $370.087M ▲ $1.05B ▼
Q2-2025 $522.596M ▲ $1.382B ▲ $318.505M ▲ $1.064B ▲
Q1-2025 $463.59M ▲ $1.347B ▼ $316.585M ▼ $1.031B ▼
Q4-2024 $453.612M ▲ $1.368B ▲ $332.34M ▼ $1.036B ▲
Q3-2024 $403.21M $1.343B $335.551M $1.007B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-45.117M ▼ $0 ▼ $0 ▲ $0 ▼ $6.66M ▼ $0 ▼
Q2-2025 $22.499M ▲ $58.535M ▲ $-30.607M ▼ $935K ▲ $28.863M ▼ $58.08M ▲
Q1-2025 $-11.827M ▼ $30.599M ▼ $37.317M ▲ $-21.399M ▼ $46.517M ▲ $30.272M ▼
Q4-2024 $15.328M ▼ $44.406M ▼ $-12.638M ▲ $5.89M ▲ $37.658M ▲ $44.193M ▼
Q3-2024 $38.497M $53.52M $-77.011M $3.075M $-20.416M $53.32M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
APOKYN
APOKYN
 $40.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Collaboration Revenue
Collaboration Revenue
 $0 ▲$0 ▲$0 ▲$20.00M ▲
GOCOVRI
GOCOVRI
 $70.00M ▲$30.00M ▼$40.00M ▲$40.00M ▲
Manufactured Product Other
Manufactured Product Other
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Oxtellar X R
Oxtellar X R
 $40.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Product
Product
 $330.00M ▲$140.00M ▼$160.00M ▲$170.00M ▲
Qelbree
Qelbree
 $130.00M ▲$60.00M ▼$80.00M ▲$80.00M ▲
Royalty License And Other Revenue
Royalty License And Other Revenue
 $20.00M ▲$10.00M ▼$10.00M ▲$0 ▼
Trokendi Xr
Trokendi Xr
 $30.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the past several years, though with a pause and dip in the middle, suggesting the business is growing but not in a straight line. Profitability is positive overall, but not especially thick, and there was a year recently where operating results slipped close to break-even before improving again. This pattern points to a company that can make money but is sensitive to product cycles, pricing, and launch costs. Earnings per share have bounced around quite a bit, which may reflect one‑off items, product transitions, or higher spending on new launches and integrations.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and cleaner than a few years ago. Debt has come down sharply over time, while shareholders’ equity has steadily built up, which usually indicates retained profits and a stronger financial foundation. Total assets have been fairly stable, suggesting the company is managing growth without overextending. The main watchpoint is that cash on hand has moved down from earlier levels, which reduces the immediate cushion for setbacks or aggressive investment moves.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive for several years, even when accounting earnings were under some pressure. Free cash flow is close to operating cash flow because the business has modest ongoing capital spending needs, which is typical for a specialty pharma model focused more on R&D and commercialization than on heavy manufacturing. This steady cash profile gives management flexibility to fund development, defend patents, or pursue deals, but the absolute cash balance on the balance sheet means they still need to be disciplined. Overall, the company behaves more like a cash-generative, medium‑growth franchise than a cash‑burning early‑stage biotech.

Competitive Edge

Competitive Edge Supernus operates in central nervous system disorders, a focused niche within healthcare where medical need is high and treatments can be sticky once established. Its edge comes from specialized extended‑release formulations, a track record in epilepsy, ADHD, and Parkinson’s disease, and a strong habit of defending patents against generic challengers. At the same time, it competes against much larger pharmaceutical players and a steady stream of generics, so maintaining differentiation and reimbursement support is crucial. The company’s acquisitions in Parkinson’s disease and postpartum depression broaden its reach but also pull it into more crowded and heavily marketed spaces, which could pressure margins if competition intensifies.

Innovation and R&D

Innovation and R&D Innovation is centered on drug‑delivery science and life‑cycle management rather than on high‑risk, first‑in‑class biology alone. Supernus has built a family of proprietary release technologies and a sizable patent portfolio, giving it time‑limited protection for once‑daily and improved‑tolerability versions of known medicines. The pipeline mixes incremental innovations (new formulations, new uses) with a few higher‑risk, novel candidates in epilepsy and treatment‑resistant depression, some of which have shown mixed trial results. Newer assets like Qelbree and ZURZUVAE, plus products gained through deals, show a willingness to expand into adjacent CNS and mental‑health markets, but their commercial success is still being proven and carries execution risk.

Summary

Overall, Supernus looks like a specialized CNS company with steady, if uneven, growth and a business model that throws off reliable cash rather than chasing blockbuster‑or‑bust outcomes. Financially, profitability and cash flow are positive, debt has been reduced, and equity has grown, but the lower cash balance and past near‑flat earnings year underline that the business is not risk‑free. Its competitive strength comes from focused expertise in CNS disorders, proprietary delivery technologies, and assertive patent defense, counterbalanced by exposure to generic erosion and large‑pharma competition. Future performance will hinge on how well it can grow newer products like Qelbree and ZURZUVAE, manage the eventual aging of its older franchises, and convert its pipeline and acquisitions into durable, high‑margin revenue streams without overstretching its resources.

NEWS

November 21, 2025 · 4:06 PM UTC

Supernus Pharmaceuticals to Participate in the Piper Sandler 37th Annual Healthcare Conference

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November 12, 2025 · 4:05 PM UTC

Supernus to Participate in the 2025 Jefferies Global Healthcare Conference in London

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November 4, 2025 · 4:01 PM UTC

Supernus Announces Third Quarter 2025 Financial Results

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October 21, 2025 · 5:00 PM UTC

Supernus Pharmaceuticals to Announce Third Quarter 2025 Financial Results and Host Conference Call on November 4, 2025

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