This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Supernus Pharmaceuticals Reports Second Quarter 2012 Financial Results

About Supernus Pharmaceuticals, Inc.

Supernus Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system, or CNS, diseases. The company is developing several product candidates in neurology and psychiatry to address large market opportunities in epilepsy and ADHD including ADHD patients with impulsive aggression. These product candidates include Trokendi XR (extended-release topiramate), formerly known as SPN-538, and SPN-804 (extended-release oxcarbazepine) for epilepsy, SPN-810 for impulsive aggression in ADHD and SPN-812 for ADHD.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the Company's ability to achieve profitability; the Company's ability to raise sufficient capital to implement its corporate strategy; the implementation of the Company's corporate strategy; the Company's future financial performance and projected expenditures; the Company's ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; the Company's product research and development activities, including the timing and progress of the Company's clinical trials, and projected expenditures; the Company's ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize the Company's product candidates; the Company's respective PDUFA dates for product candidates; the Company's ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; the Company's expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of the Company's product candidates; the accuracy of the Company's estimates of the size and characteristics of the markets that may be addressed by its product candidates; the Company's ability to increase its manufacturing capabilities for its product candidates; the Company's projected markets and growth in markets; the Company's product formulations and patient needs and potential funding sources; the Company's staffing needs; and other risk factors set forth from time to time in the Company's SEC filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
(in thousands)
  December, 31 June 30,
  2011 2012
Cash, cash equivalents and marketable securities  $ 48,544  $ 76,392
Other current assets  855  1,413
Total current assets  49,399  77,805
Property and equipment, net  1,310  1,146
Deferred financing costs  2,054  161
Other long-term assets  967  853
Total Assets  53,730  79,965
Accounts payable and accrued expenses  $ 11,625  $ 10,510
Secured notes payable, current  6,775  10,747
Other current liabilities  370  624
Total current liabilities  18,770  21,881
Secured notes payable, long-term  22,711  17,061
Other liabilities  2,806  3,043
Total Liabilities  44,287  41,985
Total Stockholders' Equity  9,443  37,980
Total Liabilities & Stockholders Equity  $ 53,730  $ 79,965
(in thousands, except per share data)
   Three months ended   Six months ended 
   June 30, 2011   June 30, 2012   June 30, 2011   June 30, 2012 
Total revenues  $ 750  $ 91  $ 750  $ 299
Operating expenses:        
Research and development  7,251  4,703  14,702  10,061
General and administrative  1,895  4,645  3,642  7,374
Total operating expenses  9,146  9,348  18,344  17,435
Operating loss  (8,396)  (9,257)  (17,594)  (17,136)
Other income (expense):        
Interest income  12  32  27  52
Interest expense  (499)  (929)  (859)  (1,891)
Other income(expense)  (57)  141  (229)  (313)
Net loss from continuing operations  (8,940)  (10,013)  (18,655)  (19,288)
Discontinued operations  1,563  --  229  --
Net loss  $ (7,377)  $ (10,013)  $ (18,426)  $ (19,288)
Cumulative Dividends on Preferred Stock  $ (858)  $ (286)  $ (1,715)  $ (1,143)
Net loss attributable to common shareholders  $ (8,235)  $ (10,299)  $ (20,141)  $ (20,431)
Net loss per share - basic & diluted  $ (5.17)  $ (0.61)  $ (12.64)  $ (2.21)
Weighted average number of shares outstanding (post-split)  1,594,246  16,817,841  1,593,508  9,247,142
CONTACT: Jack Khattar, President & CEO
         Gregory S. Patrick, Vice President and CFO
         Supernus Pharmaceuticals, Inc.
         Tel: (301) 838-2591

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.31%
FB $102.01 0.10%
GOOG $682.40 -0.10%
TSLA $151.04 0.38%
YHOO $27.04 1.05%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs