Supernus Pharmaceuticals Reports $149.8 Million Revenue in Q1 2025, Net Loss of $11.8 Million

Supernus Pharmaceuticals, Inc. reported a total revenue of $149.8 million for the first quarter of 2025, reflecting a 4% increase from $143.6 million in the same period of 2024. The growth was primarily driven by a 3% rise in net product sales, which reached $142.0 million, up from $138.5 million. Notably, sales of Qelbree, a treatment for ADHD, surged by 44% to $64.7 million, while GOCOVRI, used for treating dyskinesia in Parkinson's disease, also saw a 16% increase in sales. However, the company experienced declines in sales for Oxtellar XR and Trokendi XR, attributed to generic competition.

In terms of profitability, Supernus reported a net loss of $11.8 million, or $(0.21) per share, compared to a net income of $124,000, or $0.00 per share, in the prior year. The operating loss widened to $10.3 million from $3.2 million, largely due to increased research and development expenses, which rose to $26.9 million from $24.9 million, and a significant contingent consideration loss of $7.7 million related to the FDA approval of ONAPGO, a new product launched in April 2025.

The company’s balance sheet as of March 31, 2025, showed total assets of $1.35 billion, a slight decrease from $1.37 billion at the end of 2024. Cash and cash equivalents increased significantly to $115.8 million from $69.3 million, while marketable securities decreased to $347.7 million from $384.3 million. Current liabilities also decreased to $281.8 million from $292.4 million, primarily due to a reduction in contingent consideration liabilities.

Strategically, Supernus launched ONAPGO, the first subcutaneous apomorphine infusion device for advanced Parkinson's disease, following its FDA approval in February 2025. The company continues to expand its product offerings and prescriber base, with Qelbree prescriptions increasing by 22% year-over-year. The company also reported a favorable experience with product returns for Qelbree, leading to adjustments in their estimated provisions for returns.

Looking ahead, Supernus anticipates continued revenue growth driven by its expanding product portfolio and market presence. However, the company acknowledges potential challenges, including market pressures and the impact of patent expirations on certain products. The management remains focused on maintaining liquidity and exploring additional capital-raising opportunities to support ongoing operations and product development initiatives.