Narrower-than-Expected Loss at Supernus - Analyst Blog

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Supernus Pharmaceuticals, Inc. ( SUPN ) reported fourth quarter 2013 net loss per share of 39 cents, narrower than the Zacks Consensus Estimate of a loss of 54 cents and the year-ago loss of 51 cents.

Fourth quarter revenues were $10.3 million, compared with $1.1 million in the year-ago quarter. Revenues were well above the Zacks Consensus Estimate of $7 million.

Quarter in Detail

Prescriptions filled at the pharmacy level in the reported quarter increased by 12,527 from the sequentially preceding quarter. Supernus is planning to expand its sales force from 110 representatives to 150 representatives by mid-2014.

In the reported quarter, research and development expenses were $5.4 million, compared with $5.2 million in the year-ago quarter. In the reported quarter, selling, general and administrative (SG&A) expenses were $15.2 million, compared with $8.7 million in the year-ago quarter. The increase was due to higher costs relating to the launch and commercialization of Oxtellar XR and Trokendi XR.

In Feb 2013, Supernus launched its antiepileptic drug, Oxtellar XR, in the U.S. Prescriptions for Oxtellar XR, as reported by IMS in the fourth quarter of 2013, were 9,866, up from 7,217 in the third quarter. Since its launch, more than 2,200 target physicians have prescribed Oxtellar XR.

Supernus launched Trokendi XR in Aug 2013. Prescriptions for Trokendi XR reported by IMS in the fourth quarter of 2013 were 11,244. Since its launch, more than 2,200 target physicians have prescribed Trokendi XR.

SPN-810 is being developed for the treatment of impulsive aggression in attention deficit hyperactivity disorder (ADHD) patients. Supernus met with the U.S. Food and Drug Administration (FDA) to discuss plans for later stage clinical studies. Supernus intends to conduct a phase III study in 2014 under the FDA's Special Protocol Assessment program.

Annual Results

Supernus reported full year 2013 loss of $2.18 per share, narrower than the Zacks Consensus Estimate of a loss of $2.30 and the 2012 loss of $2.68 per share.

Full year revenues were $12 million, as compared with $1.5 million in 2012. Revenues were well above the Zacks Consensus Estimate of $9 million. Full year net revenue for Oxtellar XR was $11.0 million, exceeding the guidance of $8.5 million provided earlier.

2014 Outlook

Supernus' cash burn outlook for 2014 is $35 million to $45 million. For 2014, Supernus expects total revenue in the range of $75 million to $85 million.

Supernus carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks in the pharma sector may consider companies like Lannett Company, Inc. ( LCI ), Actavis plc ( ACT ) and Impax Laboratories Inc. ( IPXL ). Actavis and Impax carry a Zacks Rank #2 (Buy) while Lannett has a Zacks Rank #1 (Strong Buy).   



ACTAVIS PLC (ACT): Free Stock Analysis Report

IMPAX LABORATRS (IPXL): Free Stock Analysis Report

LANNETT INC (LCI): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ADHD , ACT , IPXL , LCI

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