Supernus Provides Business Update
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The Company reaffirms that it is on track to become cash flow breakeven by year-end, with a year-end cash balance of
$75 million -$85 million . - The Company reaffirms that it does not need to raise additional capital to reach profitability. It expects to be profitable starting in 2014 and beyond.
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The Company reaffirms that it expects revenues of approximately
$105 million in 2014.
The Company is focused on executing its current strategy as outlined below to maximize shareholder value.
Drive growth in its epilepsy portfolio of products, Trokendi XR® and Oxtellar XR®.
The products, successfully launched last year, are in their early stage of growth, with total peak sales potential of
Demonstrate significant progress in the development of our pipeline.
This is evident by the recent
The Company's pipeline targets markets with significant commercial potential. SPN-810 is expected to be the first product approved for impulsive aggression that is prevalent across many CNS disorders including ADHD, autism, bipolar, and schizophrenia, and for which there are currently no approved products on the market. Similarly, SPN-812 is expected to have a differentiated clinical profile compared to other non-stimulants for the treatment of ADHD. Both products have successfully progressed and have completed multiple trials leading to the planned 2015 start of patient dosing in Phase III for SPN-810 and patient dosing in Phase IIb for SPN-812. The Company is also building a broad portfolio of patents to provide strong intellectual property protection on both products.
Explore a broad range of strategic opportunities.
This includes in-licensing products and entering into co-promotion partnerships which are synergistic with our neurology sales force call point, potential co-development partnerships on our pipeline products, and growth opportunities through value-creating and transformative merger and acquisition transactions.
About
Forward-Looking Statements:
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, the Company's ability to achieve and maintain continued profitability; the Company's ability to raise sufficient capital to fully implement its corporate strategy; the implementation of the Company's corporate strategy; the Company's future financial performance and projected expenditures; the Company's ability to increase
the number of prescriptions written for each of its products; the Company's ability to increase its net revenue; the Company's ability to enter into future collaborations with pharmaceutical companies and academic institutions or to obtain funding from government agencies; the Company's product research and development activities, including the timing and progress of the Company's clinical trials, and projected expenditures; the Company's ability to receive, and the timing of any receipt of, regulatory approvals to develop and commercialize the Company's product candidates; the Company's ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; the Company's expectations regarding federal, state and foreign regulatory requirements; the therapeutic benefits, effectiveness and safety of the Company's product
candidates; the accuracy of the Company's estimates of the size and characteristics of the markets that may be addressed by its product candidates; the Company's ability to increase its manufacturing capabilities for its products and product candidates; the Company's projected markets and growth in markets; the Company's product formulations and patient needs and potential funding sources; the Company's staffing needs; and other risk factors set forth from time to time in the Company's
CONTACT:Source:Jack A. Khattar , President and CEOGregory S. Patrick , Vice President and CFOSupernus Pharmaceuticals, Inc. 301-838-2591 or INVESTOR CONTACT: COCKRELL GROUP 877-889-1972 investorrelations@thecockrellgroup.com cockrellgroup.com
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