Q2 2024 Supernus Pharmaceuticals Inc Earnings Call Transcript
Key Points
- Supernus Pharmaceuticals Inc (SUPN) reported a 32% increase in total revenues, excluding Trokendi XR and Oxtellar XR, driven by strong performance from Qelbree and Gocovri.
- Qelbree prescriptions grew by 28% in the first six months of 2024, with net sales increasing by 84% compared to the same period last year.
- The company has a strong balance sheet with approximately $347.2 million in cash and no debt, providing significant financial flexibility for potential M&A and growth opportunities.
- Supernus Pharmaceuticals Inc (SUPN) raised its financial guidance for total revenue and operating earnings for the full year 2024.
- The company is advancing its product pipeline with promising developments in SPN-817 for treatment-resistant seizures and SPN-820 for depression, with significant data expected in the next 6 to 12 months.
- Net sales of Trokendi XR decreased by 12% in the second quarter and are expected to continue eroding with the entry of Oxtellar XR generics later this year.
- The company faces uncertainties regarding the FDA's classification of the SPN-830 NDA resubmission, which could impact the review timeline.
- Combined R&D and SG&A expenses increased slightly, primarily due to R&D spend associated with clinical programs, which could pressure margins.
- The ADHD market experienced a softer back-to-school season last year, and there is uncertainty about whether this year's season will see a stronger recovery.
- Despite growth in adult prescriptions, Qelbree's market share in the adult ADHD segment remains low, indicating a need for further market penetration efforts.
Good afternoon and welcome to the Supernus Pharmaceuticals' second-quarter 2024 financial results conference call. (Operator Instructions)
As a reminder, this conference call is being recorded. I would now like to turn the conference over to Peter Vozzo of ICR Westwicke, Investor Relations Representative for Supernus Pharmaceuticals. You may begin now.
Thank you, Corinne. Good afternoon, everyone, and thank you for joining us today for Supernus Pharmaceuticals' second-quarter 2024 financial results conference call. Today, after the close of the market, the company issued a press release announcing these results.
On the call with me today are Supernus' Chief Executive Officer, Jack Khattar, and Chief Financial Officer, Tim Dec. Today's call is being made available via the Investor Relations section of the company's website at ir.supernus.com.
During the course of this call, management may make certain forward-looking statements regarding future events and the company's
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