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10-Q Filing

SUPERNUS PHARMACEUTICALS, INC. CIK: 1356576 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001356576-20-000031
Period End Date 20200331
Filing Date 20200515
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance supn-20200331_htm.xml
Balance Sheet 71 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 (in shares) CommonStockSharesAuthorized 130.00M shares Point-in-time
Common stock shares authorized (in shares) CommonStockSharesAuthorized 130.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.38M USD Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 52.53M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $225.77M USD Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 52.54M shares Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 52.53M shares Point-in-time
Marketable securities MarketableSecuritiesCurrent $175.10M USD Point-in-time
Marketable securities MarketableSecuritiesCurrent $165.69M USD Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 52.54M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $87.33M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $119.19M USD Point-in-time
Inventories, net InventoryNet $26.63M USD Point-in-time
Inventories, net InventoryNet $24.42M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.61M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $12.56M USD Point-in-time
Total current assets AssetsCurrent $557.05M USD Point-in-time
Total current assets AssetsCurrent $472.64M USD Point-in-time
Long term marketable securities MarketableSecuritiesNoncurrent $591.77M USD Point-in-time
Long term marketable securities MarketableSecuritiesNoncurrent $534.71M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $18.01M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $17.07M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $23.58M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $24.84M USD Point-in-time
Lease assets OperatingLeaseRightOfUseAsset $21.91M USD Point-in-time
Lease assets OperatingLeaseRightOfUseAsset $21.28M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $34.07M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $32.06M USD Point-in-time
Other assets OtherAssetsNoncurrent $615.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $538.00K USD Point-in-time
Total assets Assets $1.19B USD Point-in-time
Total assets Assets $1.16B USD Point-in-time
Accounts payable AccountsPayableCurrent $3.12M USD Point-in-time
Accounts payable AccountsPayableCurrent $10.14M USD Point-in-time
Accrued product returns and rebates AccruedProductReturnsAndRebates $107.63M USD Point-in-time
Accrued product returns and rebates AccruedProductReturnsAndRebates $119.45M USD Point-in-time
Accrued expenses and other current liabilities OtherAccountsPayableAndAccruedLiabilities $37.13M USD Point-in-time
Accrued expenses and other current liabilities OtherAccountsPayableAndAccruedLiabilities $33.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $2.44M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $9.10M USD Point-in-time
Nonrecourse liability related to sale of future royalties, current portion NonRecourseDebtSaleOfFutureRoyaltiesCurrent $3.24M USD Point-in-time
Nonrecourse liability related to sale of future royalties, current portion NonRecourseDebtSaleOfFutureRoyaltiesCurrent $3.66M USD Point-in-time
Total current liabilities LiabilitiesCurrent $160.59M USD Point-in-time
Total current liabilities LiabilitiesCurrent $168.34M USD Point-in-time
Convertible notes, net ConvertibleLongTermNotesPayable $345.17M USD Point-in-time
Convertible notes, net ConvertibleLongTermNotesPayable $349.23M USD Point-in-time
Nonrecourse liability related to sale of future royalties, long term NonRecourseDebtSaleOfFutureRoyaltiesNoncurrent $19.25M USD Point-in-time
Nonrecourse liability related to sale of future royalties, long term NonRecourseDebtSaleOfFutureRoyaltiesNoncurrent $18.37M USD Point-in-time
Nonrecourse liability related to sale of future royalties, long term NonRecourseDebtSaleOfFutureRoyaltiesNoncurrent $30.00M USD Point-in-time
Lease liabilities, long term OperatingLeaseLiabilityNoncurrent $30.80M USD Point-in-time
Lease liabilities, long term OperatingLeaseLiabilityNoncurrent $30.44M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $9.74M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $9.41M USD Point-in-time
Total liabilities Liabilities $564.85M USD Point-in-time
Total liabilities Liabilities $576.48M USD Point-in-time
Common stock, $0.001 par value; 130,000,000 shares authorized; 52,537,159 and 52,533,348 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively CommonStockValue $53.00K USD Point-in-time
Common stock, $0.001 par value; 130,000,000 shares authorized; 52,537,159 and 52,533,348 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively CommonStockValue $53.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $392.43M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $388.41M USD Point-in-time
Accumulated other comprehensive earnings (loss), net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $7.42M USD Point-in-time
Accumulated other comprehensive earnings (loss), net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-166.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $221.07M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $199.55M USD Point-in-time
Total stockholders equity StockholdersEquity $595.43M USD Point-in-time
Total stockholders equity StockholdersEquity $453.02M USD Point-in-time
Total stockholders equity StockholdersEquity $480.02M USD Point-in-time
Total stockholders equity StockholdersEquity $613.38M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.19B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.16B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Total revenues Revenues $94.98M USD 1 Quarter
Total revenues Revenues $85.47M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $4.15M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $3.68M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $15.39M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $18.94M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $42.88M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $40.97M USD 1 Quarter
Total costs and expenses CostsAndExpenses $65.96M USD 1 Quarter
Total costs and expenses CostsAndExpenses $60.05M USD 1 Quarter
Operating earnings OperatingIncomeLoss $29.01M USD 1 Quarter
Operating earnings OperatingIncomeLoss $25.43M USD 1 Quarter
Interest expense OtherNonoperatingExpense $5.87M USD 1 Quarter
Interest expense OtherNonoperatingExpense $5.75M USD 1 Quarter
Interest income, net OtherNonoperatingIncome $5.78M USD 1 Quarter
Interest income, net OtherNonoperatingIncome $4.68M USD 1 Quarter
Total other income (expense) OtherNonoperatingIncomeExpense $22.00K USD 1 Quarter
Total other income (expense) OtherNonoperatingIncomeExpense $-1.19M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $24.24M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $29.03M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $7.52M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $5.90M USD 1 Quarter
Net earnings NetIncomeLoss $21.52M USD 1 Quarter
Net earnings NetIncomeLoss $18.34M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.35 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.41 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.34 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.40 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 52.34M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 52.53M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.99M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.58M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $18.34M USD 1 Quarter
Net earnings ProfitLoss $21.52M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $3.99M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $3.29M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.73M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.68M USD 1 Quarter
Amortization of premium/discount on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $1.10M USD 1 Quarter
Amortization of premium/discount on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $451.00K USD 1 Quarter
Amortization of deferred financing costs and debt discount AmortizationOfFinancingCostsAndDiscounts $4.06M USD 1 Quarter
Amortization of deferred financing costs and debt discount AmortizationOfFinancingCostsAndDiscounts $3.85M USD 1 Quarter
Noncash interest expense InterestExpenseNonRecourseRoyaltyLiability $1.37M USD 1 Quarter
Noncash interest expense InterestExpenseNonRecourseRoyaltyLiability $1.44M USD 1 Quarter
Noncash royalty revenue RevenueFromRoyaltyAgreement $1.58M USD 1 Quarter
Noncash royalty revenue RevenueFromRoyaltyAgreement $1.57M USD 1 Quarter
Noncash operating lease cost NoncashOperatingLeaseCost $879.00K USD 1 Quarter
Noncash operating lease cost NoncashOperatingLeaseCost $991.00K USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $538.00K USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $279.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-23.01M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $31.82M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $859.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-2.21M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherCurrentAssets $1.80M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherCurrentAssets $454.00K USD 1 Quarter
Other noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets $196.00K USD 1 Quarter
Other noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets - USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-7.02M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.04M USD 1 Quarter
Accrued product returns and rebates IncreaseDecreaseInAccruedProductReturnsAndRebates $11.82M USD 1 Quarter
Accrued product returns and rebates IncreaseDecreaseInAccruedProductReturnsAndRebates $-18.86M USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-3.18M USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-3.63M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $6.65M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $4.86M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-1.10M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-1.02M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $32.99M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $8.92M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $15.38M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $150.17M USD 1 Quarter
Sales and maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $47.14M USD 1 Quarter
Sales and maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $53.36M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.54M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $221.00K USD 1 Quarter
Deferred legal fees PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Deferred legal fees PaymentsToAcquireIntangibleAssets $1.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-103.25M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $35.44M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $32.00K USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $783.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $783.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $32.00K USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $44.39M USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-69.47M USD 1 Quarter
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $225.77M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.25M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $181.38M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $122.78M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $225.77M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.25M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $181.38M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $122.78M USD Point-in-time
Cash paid for interest on convertible notes InterestPaidNet $1.26M USD 1 Quarter
Cash paid for interest on convertible notes InterestPaidNet $1.26M USD 1 Quarter
Income taxes paid IncomeTaxesPaidNet $324.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaidNet $800.00K USD 1 Quarter
Deferred legal fees and fixed assets included in accounts payable and accrued expenses NonCashCapitalizedCostOfIntangibleAssets $250.00K USD 1 Quarter
Deferred legal fees and fixed assets included in accounts payable and accrued expenses NonCashCapitalizedCostOfIntangibleAssets $708.00K USD 1 Quarter
Property and equipment additions from utilization of tenant improvement allowance PropertyAndEquipmentAcquiredUnderBuildToSuitLeaseTransaction $282.00K USD 1 Quarter
Property and equipment additions from utilization of tenant improvement allowance PropertyAndEquipmentAcquiredUnderBuildToSuitLeaseTransaction - USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $595.43M USD Point-in-time
Balance StockholdersEquity $453.02M USD Point-in-time
Balance StockholdersEquity $480.02M USD Point-in-time
Balance StockholdersEquity $613.38M USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.29M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.99M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised $32.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised $783.00K USD 1 Quarter
Net earnings NetIncomeLoss $18.34M USD 1 Quarter
Net earnings NetIncomeLoss $21.52M USD 1 Quarter
Unrealized (loss) gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-7.58M USD 1 Quarter
Unrealized (loss) gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $4.58M USD 1 Quarter
Balance StockholdersEquity $595.43M USD Point-in-time
Balance StockholdersEquity $453.02M USD Point-in-time
Balance StockholdersEquity $480.02M USD Point-in-time
Balance StockholdersEquity $613.38M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $18.34M USD 1 Quarter
Net earnings NetIncomeLoss $21.52M USD 1 Quarter
Unrealized (loss) gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-7.58M USD 1 Quarter
Unrealized (loss) gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $4.58M USD 1 Quarter
Other comprehensive (loss) earnings OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-7.58M USD 1 Quarter
Other comprehensive (loss) earnings OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.58M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $13.94M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $22.93M USD 1 Quarter

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

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