10-Q Filing

SUPERNUS PHARMACEUTICALS, INC. CIK: 1356576 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-034963`
Period End Date	20150331
Filing Date	20150506
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	supn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 39 Cash Flow Statement 58 Comprehensive Income 8

Balance Sheet 62 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
Common stock, shares issued	`CommonStockSharesIssued`	47.51M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.97M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.97M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$37.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.51M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$39.03M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.27M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$17.27M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.44M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$101.50M	USD	Point-in-time
Long term marketable securities	`MarketableSecuritiesNoncurrent`	$27.32M	USD	Point-in-time
Long term marketable securities	`MarketableSecuritiesNoncurrent`	$19.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.48M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.84M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$497.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$918.00K	USD	Point-in-time
Total assets	`Assets`	$139.64M	USD	Point-in-time
Total assets	`Assets`	$137.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$859.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$25.49M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$25.85M	USD	Point-in-time
Deferred licensing revenue	`DeferredRevenueLicensingCurrent`	$143.00K	USD	Point-in-time
Deferred licensing revenue	`DeferredRevenueLicensingCurrent`	$143.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.49M	USD	Point-in-time
Deferred licensing revenue, net of current portion	`DeferredRevenueLicensingNoncurrent`	$1.24M	USD	Point-in-time
Deferred licensing revenue, net of current portion	`DeferredRevenueLicensingNoncurrent`	$1.27M	USD	Point-in-time
Convertible notes, net of discount	`ConvertibleLongTermNotesPayable`	$26.95M	USD	Point-in-time
Convertible notes, net of discount	`ConvertibleLongTermNotesPayable`	$11.71M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.56M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$3.88M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$2.69M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$6.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$45.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$66.15M	USD	Point-in-time
Common stock, $0.001 par value, 130,000,000 shares authorized at March 31, 2015 and December 31, 2014; 47,513,429 and 42,974,463 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$43.00K	USD	Point-in-time
Common stock, $0.001 par value, 130,000,000 shares authorized at March 31, 2015 and December 31, 2014; 47,513,429 and 42,974,463 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$48.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$252.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$230.12M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-65.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-154.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-158.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-157.74M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$94.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$71.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$139.64M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$137.51M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueNet`	$28.10M	USD	1 Quarter
Net product sales	`SalesRevenueNet`	$8.99M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$36.00K	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$86.00K	USD	1 Quarter
Total revenue	`Revenues`	$9.08M	USD	1 Quarter
Total revenue	`Revenues`	$28.13M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$1.62M	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`	$3.68M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$19.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.53M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$24.70M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$22.50M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-13.42M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$3.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$102.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$113.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$381.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.21M	USD	1 Quarter
Changes in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-49.00K	USD	1 Quarter
Changes in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$677.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.13M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.69M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.45M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.12M	USD	1 Quarter
Earnings (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$979.00K	USD	1 Quarter
Earnings (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.54M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$62.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$917.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.38	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.38	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	41.13M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44.56M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.13M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$917.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.13M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.69M	USD	1 Quarter
Change in fair value of derivative liability	`UnrealizedGainLossOnDerivatives`	$677.00K	USD	1 Quarter
Change in fair value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-49.00K	USD	1 Quarter
Unrealized gain on marketable securities	`MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments`	$-89.00K	USD	1 Quarter
Unrealized gain on marketable securities	`MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments`	$-1.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$227.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$214.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$374.00K	USD	1 Quarter
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$574.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$667.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$901.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$261.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$805.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-38.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$660.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-975.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.68M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$366.00K	USD	1 Quarter
Deferred product revenue, net	`IncreaseDecreaseInDeferredProductRevenueNet`	$4.39M	USD	1 Quarter
Deferred licensing revenue	`IncreaseDecreaseInDeferredLicensingRevenue`	$-67.00K	USD	1 Quarter
Deferred licensing revenue	`IncreaseDecreaseInDeferredLicensingRevenue`	$-36.00K	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.28M	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-576.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.10M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$503.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$17.32M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$9.41M	USD	1 Quarter
Sales and maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.10M	USD	1 Quarter
Sales and maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$8.73M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$263.00K	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$189.00K	USD	1 Quarter
Deferred legal fees	`PaymentsToAcquireIntangibleAssets`	$2.46M	USD	1 Quarter
Deferred legal fees	`PaymentsToAcquireIntangibleAssets`	$1.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.24M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.63M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$147.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.00K	USD	1 Quarter
Cash settlement of debt to equity conversion	`RepaymentsOfConvertibleDebt`	$1.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$147.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.73M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.59M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.25M	USD	Point-in-time
Conversion of convertible notes and interest make-whole	`DebtConversionConvertedInstrumentAmount1`	$10.42M	USD	1 Quarter
Conversion of convertible notes and interest make-whole	`DebtConversionConvertedInstrumentAmount1`	$21.18M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$917.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-15.54M	USD	1 Quarter
Unrealized net gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$89.00K	USD	1 Quarter
Unrealized net gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Other comprehensive income:	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$89.00K	USD	1 Quarter
Other comprehensive income:	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.01M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-15.54M	USD	1 Quarter

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