10-Q Filing

SUPERNUS PHARMACEUTICALS, INC. CIK: 1356576 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-038146`
Period End Date	20140331
Filing Date	20140513
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	supn-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 59 Comprehensive Income 8

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	130.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	130.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.98M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.05M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$49.21M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$46.62M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.72M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.05M	USD	Point-in-time
Interest receivable	`InterestReceivableCurrent`	$483.00K	USD	Point-in-time
Interest receivable	`InterestReceivableCurrent`	$636.00K	USD	Point-in-time
Inventories	`InventoryNet`	$7.15M	USD	Point-in-time
Inventories	`InventoryNet`	$7.96M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.05M	USD	Point-in-time
Deferred financing costs, current	`DeferredFinanceCostsCurrentNet`	$229.00K	USD	Point-in-time
Deferred financing costs, current	`DeferredFinanceCostsCurrentNet`	$185.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$79.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$97.16M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.55M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.16M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.16M	USD	Point-in-time
Long term marketable securities	`MarketableSecuritiesNoncurrent`	$11.66M	USD	Point-in-time
Long term marketable securities	`MarketableSecuritiesNoncurrent`	$8.76M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$361.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$360.00K	USD	Point-in-time
Deferred financing costs, long-term	`DeferredFinanceCostsNoncurrentNet`	$1.00M	USD	Point-in-time
Deferred financing costs, long-term	`DeferredFinanceCostsNoncurrentNet`	$764.00K	USD	Point-in-time
Total assets	`Assets`	$111.00M	USD	Point-in-time
Total assets	`Assets`	$97.52M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.66M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$18.31M	USD	Point-in-time
Deferred product revenue, net	`DeferredProductRevenueNetCurrent`	$7.88M	USD	Point-in-time
Deferred product revenue, net	`DeferredProductRevenueNetCurrent`	$12.27M	USD	Point-in-time
Deferred licensing revenue	`DeferredRevenueLicensingCurrent`	$204.00K	USD	Point-in-time
Deferred licensing revenue	`DeferredRevenueLicensingCurrent`	$173.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.10M	USD	Point-in-time
Deferred licensing revenue, net of current portion	`DeferredRevenueLicensingNoncurrent`	$1.42M	USD	Point-in-time
Deferred licensing revenue, net of current portion	`DeferredRevenueLicensingNoncurrent`	$1.38M	USD	Point-in-time
Convertible notes, net of discount	`ConvertibleLongTermNotesPayable`	$28.36M	USD	Point-in-time
Convertible notes, net of discount	`ConvertibleLongTermNotesPayable`	$34.39M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.68M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.10M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$12.64M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$9.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$68.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$77.53M	USD	Point-in-time
Common stock, $0.001 par value, 130,000,000 shares authorized at March 31, 2014 and December 31, 2013; 42,046,083 and 39,983,437 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$42.00K	USD	Point-in-time
Common stock, $0.001 par value, 130,000,000 shares authorized at March 31, 2014 and December 31, 2013; 42,046,083 and 39,983,437 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$40.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$211.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$223.04M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-178.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-194.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$97.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$111.00M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueNet`	$8.99M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$86.00K	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$147.00K	USD	1 Quarter
Total revenue	`Revenues`	$9.08M	USD	1 Quarter
Total revenue	`Revenues`	$147.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$494.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.48M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.52M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.53M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.53M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$22.50M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$18.05M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-17.91M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-13.42M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$102.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$727.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.21M	USD	1 Quarter
Changes in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$677.00K	USD	1 Quarter
Changes in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$80.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.69M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$89.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-2.12M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-506.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.60	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.88M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	41.13M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.69M	USD	1 Quarter
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$80.00K	USD	1 Quarter
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$677.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments`	$32.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments`	$-1.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$162.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$227.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$83.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$574.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$667.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$337.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.65M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.67M	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$8.00K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$153.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.96M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$805.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$507.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-134.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$238.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.66M	USD	1 Quarter
Deferred product revenue, net	`IncreaseDecreaseInDeferredProductRevenueNet`	$3.55M	USD	1 Quarter
Deferred product revenue, net	`IncreaseDecreaseInDeferredProductRevenueNet`	$4.39M	USD	1 Quarter
Deferred licensing revenue	`IncreaseDecreaseInDeferredLicensingRevenue`	$373.00K	USD	1 Quarter
Deferred licensing revenue	`IncreaseDecreaseInDeferredLicensingRevenue`	$-67.00K	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-576.00K	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$44.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.10M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.22M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$9.41M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$15.64M	USD	1 Quarter
Sales and maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.10M	USD	1 Quarter
Sales and maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$12.87M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$263.00K	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$372.00K	USD	1 Quarter
Capitalized patent defense costs	`PaymentsToAcquireIntangibleAssets`	$1.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.15M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.63M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.94M	USD	1 Quarter
Repayment of secured notes payable	`RepaymentsOfSecuredDebt`	$2.83M	USD	1 Quarter
Cash settlement of debt to equity conversion	`RepaymentsOfConvertibleDebt`	$1.00K	USD	1 Quarter
Financing costs and underwriters discounts	`PaymentsOfFinancingCosts`	$125.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.02M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.39M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.73M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$610.00K	USD	1 Quarter
Conversion of convertible notes	`DebtConversionConvertedInstrumentAmount1`	$10.42M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Unrealized net gain (loss) on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Unrealized net gain (loss) on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-32.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-32.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.45M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.54M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.