In This Article:
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Total Revenue: $175.7 million for Q3 2024, up from $153.9 million in Q3 2023.
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Net Product Sales: $170.3 million for Q3 2024.
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Operating Earnings (GAAP): $40.9 million for Q3 2024, up from $8.1 million in Q3 2023.
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Net Earnings (GAAP): $38.5 million for Q3 2024, or $0.69 per diluted share, compared to a net loss of $16 million in Q3 2023.
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Adjusted Operating Earnings (Non-GAAP): $67.7 million for Q3 2024, up from $37.3 million in Q3 2023.
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Cash and Marketable Securities: $403.2 million as of September 30, 2024.
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Revenue Guidance for 2024: Raised to $630 million to $650 million.
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R&D and SG&A Expenses: $98.8 million for Q3 2024, down from $105.4 million in Q3 2023.
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Prescription Growth: KVIS prescriptions grew 19% with net sales up 68% in Q3 2024.
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Net Sales of Key Products: KVIS net sales were $62 million; Recovery net sales were $36 million, up 8% from Q3 2023.
Release Date: November 04, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Supernus Pharmaceuticals Inc (NASDAQ:SUPN) reported a 26% increase in total revenues for the third quarter of 2024, driven by strong performance from key growth products.
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The company achieved a significant 68% growth in net sales for its product KVIS, with prescriptions reaching an all-time quarterly high.
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Supernus Pharmaceuticals Inc (NASDAQ:SUPN) raised its financial guidance for the full year 2024, expecting total revenues to range from $630 million to $650 million.
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The company reported a substantial increase in operating earnings, with a $32.8 million rise compared to the same quarter last year.
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Supernus Pharmaceuticals Inc (NASDAQ:SUPN) has a strong balance sheet with approximately $403.2 million in cash and no debt, providing financial flexibility for potential M&A opportunities.
Negative Points
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Net sales for legacy products like Trendi Xr and Oxtellar Xr showed declines, with Trendi Xr down 26% from the same quarter last year.
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The first generic for Elex R entered the market, resulting in a 26% sequential decline in monthly prescriptions, indicating potential future erosion.
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The company expects further erosion in Trendi Xr sales for the remainder of 2024 and into 2025.
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Supernus Pharmaceuticals Inc (NASDAQ:SUPN) faces potential competition from new non-stimulant entrants in the ADHD market, which could impact future sales.
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The company's pipeline products are still in early stages, with SPN 817 and SPN 820 in phase two trials, indicating a longer timeline before potential market entry.