Supernus Pharmaceuticals Stock Earnings Reports

Supernus reported a strong start to 2026 with total first-quarter revenue of $207.7M (up 39% YoY) and improved adjusted operating earnings. Growth-product performance drove results: ONAPGO resumed new patient initiations in Feb 2026 with March prescriptions rebounding (March prescriptions reached 463) and ~2,200 enrollment forms submitted to date; ZURZUVAE collaboration revenues were $27.6M with Biogen-reported U.S. sales up ~100% YoY and ~29,000 patients treated since launch; Qelbree net sales were $78M (up 20% YoY) with adult prescriptions and prescribers accelerating; GOCOVRI net sales were $35.2M (up 15% YoY). R&D: ongoing Phase IIb trials for SPN-820 (adjunctive MDD) and SPN-817 (treatment-resistant focal seizures), and a planned Phase I for SPN-443 in H2 2026. ONAPGO supply progress: company expects regulatory submission for a second supplier in Q3 2026 with potential approval in a 6–9 month review window (possible mid-2027). Financials: GAAP net loss narrowed to $2.3M ($0.04/sh) vs. $11.8M prior year; non-GAAP adjusted operating earnings were $28.7M. Combined R&D and SG&A rose (to $164.6M) largely due to increased SG&A tied to the Biogen collaboration. Cash position strengthened to ~$384M with no debt. Full-year 2026 guidance was reiterated: total revenues $840M–$870M; combined R&D and SG&A $620M–$650M; operating earnings $0–$30M; non-GAAP operating earnings $140M–$170M. Management emphasized continued focus on supply resiliency for ONAPGO, broadening uptake of ZURZUVAE and Qelbree (notably adult penetration), and continued M&A/corporate development targeting revenue-generating or late-stage CNS assets.