SUPERNUS PHARMACEUTICALS, INC.
SUPN evidence brief
What we can confirm
- BioSniper Score:
- 9.7 / 10
- Market Cap:
- $2.47B
- Next Catalyst:
- Patent_Expiry · Apr 13, 2027
What it means
What to watch
Prepared research question
What matters most for SUPN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SUPN
Supernus Pharmaceuticals is a neurology-focused biopharmaceutical company with approved products for ADHD, Parkinson's disease, and epilepsy, and a pipeline of novel CNS candidates.
Key risk: Clinical trial failure risk
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 16 clinical trials · 7 catalysts for SUPERNUS PHARMACEUTICALS, INC..
Supernus Pharmaceuticals is a neurology-focused biopharmaceutical company with approved products for ADHD, Parkinson's disease, and epilepsy, and a pipeline of novel CNS candidates.
- Cash and equivalents of $180.0M as of 2026-06-30 [sec].
- Total revenue of $219.1M and net income of -$58.4M for the period ending 2026-06-30 [sec].
- Shareholders' equity of $1,031.2M as of 2026-06-30 [sec].
- Qelbree prescriptions grew 17% in Q2 2026 vs Q2 2025 [sec_mda · as of 2026-08-03].
- SPN-817 Phase 2b study ongoing for treatment-resistant epilepsy [sec_mda · as of 2026-08-03].
What works
- Strong commercial product portfolio with Qelbree, GOCOVRI, and OBLOC generating growing prescription volumes [sec_mda · as of 2026-08-03].
- Deep pipeline of novel CNS candidates including SPN-817 (epilepsy) and SPN-820 (MDD) with ongoing Phase 2 studies [sec_mda · as of 2026-08-03].
- Significant cash reserves ($180.0M) and access to debt markets provide financial flexibility [sec_mda · as of 2026-08-03].
What to weigh
- Net loss of $58.4M for the period ending 2026-06-30 indicates ongoing unprofitability [sec].
- SPN-820 failed to show statistically significant improvement on primary and secondary endpoints in a prior Phase 2 study [sec_mda · as of 2026-08-03].
- Cash generation is highly dependent on commercial product success and FDA approvals, creating revenue variability [sec_mda · as of 2026-08-03].
From the filings
Quoted directly from source documents.
SPN-820 Phase 2 study did not meet endpoints
“The study did not demonstrate a statistically significant improvement on the primary and secondary endpoints.”
SEC MD&A · August 3, 2026
Qelbree prescription growth in Q2 2026
“elbree were 264,545 for the second quarter 2026, representing an increase of 17% compared to the same period last year.”
SEC MD&A · August 3, 2026
SPN-817 Phase 2b study ongoing
“The Phase 2b randomized, double-blind, placebo-controlled study of 3mg and 4mg twice daily doses is ongoing with a targeted enrollment of approximately 258 adult patients with treatment resistant focal seizures.”
SEC MD&A · August 3, 2026
Catalyst timeline
- 2027-04-13 · Patent_Expiry · OXCARBAZEPINE — Patent expiry for NDA202810; may allow generic competition.
- 2028-02-03 · Patent_Expiry · APOMORPHINE HYDROCHLORIDE — Patent expiry for NDA214056; may allow generic competition.
- 2028-04-04 · Patent_Expiry · TOPIRAMATE — Patent expiry for NDA201635; may allow generic competition.
- 2031-03-21 · Patent_Expiry · SAFINAMIDE MESYLATE — Patent expiry for NDA207145; may allow generic competition.
- 2035-04-02 · Patent_Expiry · VILOXAZINE HYDROCHLORIDE — Patent expiry for NDA211964; may allow generic competition.
- 2037-08-23 · Patent_Expiry · ZURANOLONE — Patent expiry for NDA217369; may allow generic competition.
- 2038-08-23 · Patent_Expiry · AMANTADINE HYDROCHLORIDE — Patent expiry for NDA208944; may allow generic competition.
Risks & what to watch (3)›
Key risks
- Clinical trial failure risk — SPN-820 failed prior Phase 2; ongoing Phase 2b may also fail to show efficacy [sec_mda · as of 2026-08-03].
- Revenue concentration risk — Cash generation heavily depends on few commercial products; variability in profits expected [sec_mda · as of 2026-08-03].
- Patent expirations — Key patents for OXCARBAZEPINE (2027) and APOMORPHINE (2028) will expire, opening to generic competition [catalyst].
What to watch
- SPN-817 Phase 2b topline data for treatment-resistant epilepsy [sec_mda · as of 2026-08-03].
- SPN-820 Phase 2b results in MDD [sec_mda · as of 2026-08-03].
- FDA approval of second supplier for ONAPGO expected by mid-2027 [sec_mda · as of 2026-05-05].
- Patent expiry of OXCARBAZEPINE in April 2027 [catalyst].
Sources: Catalysts · Pipeline · SEC filings · SEC MD&A · Generated October 8, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.38 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
7 upcoming, next in ~181d
No insider transactions in the last 180 days
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
325
Total value held
$2.89B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 8,797,254 | $454.7M |
| millennium management llc | 3,315,973 | $171.4M |
| vanguard portfolio management llc | 3,238,693 | $167.4M |
| vanguard capital management llc | 2,467,215 | $127.5M |
| dimensional fund advisors lp | 2,307,030 | $119.2M |
| state street corp | 2,288,127 | $118.3M |
| nomura asset management international inc. | 2,037,202 | $105.3M |
| armistice capital, llc | 1,895,347 | $98.0M |
| renaissance technologies llc | 1,705,222 | $88.1M |
| geode capital management, llc | 1,623,514 | $83.9M |
Showing top 10 of 325 institutional holders of SUPERNUS PHARMACEUTICALS, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 11.1%
- Days to cover
- 7.3
- Shares short
- 4,532,867
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SUPN short interestGovernance
Frequently asked questions
What is the AI investment thesis for SUPERNUS PHARMACEUTICALS, INC.?
Supernus Pharmaceuticals is a neurology-focused biopharmaceutical company with approved products for ADHD, Parkinson's disease, and epilepsy, and a pipeline of novel CNS candidates.
What is SUPERNUS PHARMACEUTICALS, INC.'s next catalyst?
SUPERNUS PHARMACEUTICALS, INC.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA202810" — expected April 13, 2027.
Who is the CEO of SUPERNUS PHARMACEUTICALS, INC.?
Mr. Jack A. Khattar M.B.A. is the chief executive officer of SUPERNUS PHARMACEUTICALS, INC. (SUPN).
Where is SUPERNUS PHARMACEUTICALS, INC. headquartered?
SUPERNUS PHARMACEUTICALS, INC. (SUPN) is headquartered in Rockville, MD, United States.
What therapeutic areas does SUPERNUS PHARMACEUTICALS, INC. focus on?
SUPERNUS PHARMACEUTICALS, INC. develops therapies across Oncology, Neurology, Pain, Dermatology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.