Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET

Company Participants

Peter Vozzo – Investor Relations

Jack Khattar – Chief Executive Officer

Tim Dec – Chief Financial Officer

Conference Call Participants

Andrew Tsai – Jefferies

Operator

Good afternoon, and welcome to Supernus Pharmaceuticals Third Quarter 2023 Financial Results Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session, instructions will follow at that time. As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Peter Vozzo of ICR Westwicke, Investor Relations representative for Supernus Pharmaceuticals. You may begin.

Peter Vozzo

Thank you, Stephen. Good afternoon, everyone, and thank you for joining us today for Supernus Pharmaceuticals' third quarter 2023 financial results conference call. Today, after the close of the market, the company issued a press release announcing these results. On the call with me, today are Supernus' Chief Executive Officer, Jack Khattar; and Chief Financial Officer, Tim Dec. Today's call is being made available via the Investor Relations section of the company's website at ir.supernus.com. During the course of this call, the management may make certain forward-looking statements regarding future events and the company's future performance. These forward-looking statements reflect Supernus' current perspective on existing trends and information.

Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those noted in the Risk Factors section of the company's latest SEC filings. Actual results may differ materially from those projected in these forward-looking statements. For the benefit of those of you, who may be listening to the replay, this call is being held and recorded on November 08, 2023. Since then, the company may have made additional announcements related to the topics discussed. Please reference the company's most recent press releases and current filings with the SEC. Supernus declines any obligation to update these forward-looking statements, except as required by applicable securities laws.

I'll now turn the call over to Jack.

Jack Khattar

Thank you, Peter. Good afternoon, everyone, and thanks for taking the time to join us as we discuss our 2023 third quarter results. Supernus continues to execute well during a transition year with the loss of exclusivity on its flagship brand, Trokendi XR. Our third quarter performance underscores our strong execution with combined net sales of $70 million for our growth products, Qelbree and GOCOVRI, representing an increase of 52% in the third quarter of 2023 compared to the same period last year. This $70 million in net sales from Qelbree and GOCOVRI far exceeded the $49 million decline in Trokendi XR net sales in the third quarter compared to the same period last year. Similarly, for the first nine months of 2023, combined net sales of Qelbree and GOCOVRI grew by 61%, reaching $182 million, far exceeding the $129 million decline in net sales of Trokendi XR during the same period.