SUPERNUS PHARMACEUTICALS, INC.
SUPN evidence brief
What we can confirm
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 commercial-stage biopharmaceutical company focused on developing and commercializing products for the central nervous system (CNS), with a portfolio of marketed drugs and a pipeline of late-stage candidates.
Key risk: Patent expirations for key products
BioSniper Score
Based on 6 of 6 signals
Market Cap
$2.54B
Cash Runway
214.6 moLead Asset
APOKYN (Approved)Next Catalyst
Phase3_Topline · Sep 1, 2026Financial data as of Jun 30, 2026.
Tracking 8 pipeline candidates · 16 clinical trials · 7 catalysts for SUPERNUS PHARMACEUTICALS, INC..
Supernus Pharmaceuticals is a commercial-stage biopharmaceutical company focused on developing and commercializing products for the central nervous system (CNS), with a portfolio of marketed drugs and a pipeline of late-stage candidates.
- Reported total revenue of $219.1M and a net loss of -$58.4M for the six months ended June 30, 2026 [sec].
- Cash, cash equivalents, and marketable securities totaled $372.1M as of June 30, 2026, expected to fund operations for at least the next twelve months [sec_mda].
- Qelbree prescriptions grew 17% year-over-year in Q2 2026, with adult prescriptions up 25% and pediatric up 14% [sec_mda].
- GOCOVRI net sales increased 2% to $37.6M in Q2 2026, with total prescriptions growing 9% year-over-year [sec_mda].
- Phase 2b study of SPN-817 for treatment-resistant focal seizures is ongoing with targeted enrollment of ~258 patients [sec_mda].
What works
- Strong commercial product portfolio with growing prescription trends for Qelbree (17% increase) and GOCOVRI (9% increase) in Q2 2026 [sec_mda].
- Solid cash position of $372.1M as of June 30, 2026, providing runway for operations and pipeline investment [sec_mda].
- Diversified pipeline with multiple CNS candidates (SPN-812, SPN-817, SPN-820/821) targeting large markets like ADHD and epilepsy [sec].
What to weigh
- Reported a net loss of -$58.4M for the first half of 2026, indicating ongoing profitability challenges [sec].
- Significant patent expirations approaching for key products: OXTELLAR XR (2027), ONAPGO (2028), TROKENDI XR (2028), XADAGO (2031) [catalyst].
- Pipeline candidates are still in clinical development with no guarantee of FDA approval; SPN-817 Phase 2b is ongoing and SPN-820/821 are in earlier stages [sec_mda].
- Cash generation is highly dependent on commercial product success and FDA approvals, creating variability in future profitability [sec_mda].
From the filings
Quoted directly from source documents.
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
Cash and marketable securities position as of June 30, 2026
“securities, which totaled $372.1 million as of June 30, 2026, along with cash generated from ongoing operations and continued access to debt markets, will be sufficient to satisfy its cash requirements over the next twelve months and beyond.”
SEC MD&A · August 3, 2026
GOCOVRI sales and prescription growth in Q2 2026
“Net sales of GOCOVRI increased 2% to $37.6 million in the second quarter of 2026, compared to the same period in 2025. Total number of prescriptions grew by 9% in the second quarter of 2026 compared to the same period last year.”
SEC MD&A · August 3, 2026
Catalyst timeline
- 2026-09-01 · Phase3_Topline · attention-deficit — Phase 3 Topline: Open-Label Extension Study to Evaluate the Long Term Safety and Efficacy of SPN-812 for the Treatmen — Topline data from this study will inform the safety and efficacy profile of SPN-812 for ADHD.
- 2027-04-13 · Patent_Expiry · OXTELLAR XR — Patent/Exclusivity Expiry: OXTELLAR XR — Expiration could allow generic competition, impacting OXTELLAR XR revenue.
- 2028-02-03 · Patent_Expiry · ONAPGO — Patent/Exclusivity Expiry: ONAPGO — Patent expiry may open ONAPGO to generic entry.
- 2028-04-04 · Patent_Expiry · TROKENDI XR — Patent/Exclusivity Expiry: TROKENDI XR — Patent expiry could lead to generic competition for TROKENDI XR.
- 2031-03-21 · Patent_Expiry · XADAGO — Patent/Exclusivity Expiry: XADAGO — Patent expiry may affect XADAGO market exclusivity.
- 2035-04-02 · Patent_Expiry · QELBREE — Patent/Exclusivity Expiry: QELBREE — Longer exclusivity for Qelbree, a key growth product.
- 2038-08-23 · Patent_Expiry · GOCOVRI — Patent/Exclusivity Expiry: GOCOVRI — Extended patent protection for GOCOVRI supports long-term revenue.
Risks & what to watch (4)›
Key risks
- Patent expirations for key products — OXTELLAR XR patent expires in 2027, ONAPGO in 2028, TROKENDI XR in 2028, XADAGO in 2031, exposing revenue to generic competition [catalyst].
- Pipeline development risk — SPN-817 Phase 2b is ongoing; SPN-820/821 are in earlier stages; failure or delay could impair long-term growth prospects [sec_mda].
- Profitability variability — Company expects significant year-to-year profit variability due to market conditions and R&D investments; net loss of -$58.4M in H1 2026 [sec_mda].
- Dependence on commercial success — Cash generation is highly dependent on product sales and FDA approvals; any decline could strain liquidity [sec_mda].
What to watch
- Phase 3 topline data for SPN-812 open-label extension study expected September 1, 2026 [catalyst].
- Progress of SPN-817 Phase 2b study for treatment-resistant focal seizures [sec_mda].
- Revenue and prescription trends for Qelbree and GOCOVRI in upcoming quarters [sec_mda].
- Any updates on SPN-820/821 pipeline development and regulatory milestones [sec].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 25, 2026 · How we verify sources →
Run SUPERNUS PHARMACEUTICALS, INC. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available SUPERNUS PHARMACEUTICALS, INC. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
214.6 months
D/E 0.38 · 0% dilution
Lead: Approved
8 candidates
7 upcoming, next in ~2d
0 buys · 15 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
327
Total value held
$3.06B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 8,797,254 | $454.7M |
| vanguard capital management llc | 4,934,430 | $255.1M |
| millennium management llc | 3,315,973 | $171.4M |
| vanguard portfolio management llc | 3,238,693 | $167.4M |
| 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 327 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 commercial-stage biopharmaceutical company focused on developing and commercializing products for the central nervous system (CNS), with a portfolio of marketed drugs and a pipeline of late-stage candidates.
What is SUPERNUS PHARMACEUTICALS, INC.'s lead drug candidate?
SUPERNUS PHARMACEUTICALS, INC.'s most advanced tracked candidate is APOKYN (Approved) for Acute, intermittent treatment of hypomobility or "OFF" episodes in patients with advanced Parkinson's Disease.
What is SUPERNUS PHARMACEUTICALS, INC.'s next catalyst?
SUPERNUS PHARMACEUTICALS, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: Open-Label Extension Study to Evaluate the Long Term Safety and Efficacy of SPN-812 for the Treatmen" — expected September 1, 2026.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.