Analyst Conference Summary

biotechnology

conference date: October 29, 2026 @ 1:30 PM Pacific Time
for quarter ending: September 30, 2026 (third quarter, Q3)

Forward-looking statements

Note: Supernus to Combine with Indivior (press release August 3, 2026)

Overview: To combine with Indivior Pharmaceuticals, trade as Supernus. Strong revenue growth.

Basic data (GAAP):

Revenue was $ million, up % sequentially from $219 million, and up % from $ million year-earlier.

Net Income was negative $ million, down sequentially from negative $58 million, and down from $ million year-earlier.

EPS (Earnings per Share), diluted, were negative $, down sequentially from negative $1.01, and down from negative $ year-earlier.

Guidance:

Conference Highlights:

Jack Khattar, President and CEO, said ""

Re the proposed merger of Indivior and Supernus. Believes businesses are highly complementary, both specializing in Central Nervous Sysemts medicines. $2.2 billion in current combined annnual revenues. Expects cost synergies of $125 million. Will enhance free cash flow and cash balance. Looking to accelerate growth opportunities. Jack Khattar will serve as President and CEO. Supernus Pharmaceuticals stockholders will receive 1.5401 common shares of Indivior Pharmaceuticals for each share of Supernus. Indivior Pharmaceuticals stockholders will receive a one-time special cash dividend of $1.0 billion in aggregate immediately prior to closing of the merger. To finance the dividend to Indivior Pharmaceuticals stockholders, the companies have secured a debt commitment of $650 million through a term loan facility. Indivior stockholders will own approximately 56.5% of the combined company, while Supernus stockholders will own approximately 43.5% of the combined company, on a fully diluted basis.

SPN-817 is a novel AChE inhibitor for epilepsy. A Phase 2b trial is ongoing.

SPN-820 Phase 2b trial for major depressive disorder is ongoing.

SPN-443 completed a Phase 1 study of two oral formulations. ADHD was selected as the lead indication. A Phase 1 ascending dose trial should start in 2H 2026.

Non-GAAP net operating income was $ million, up from sequentially from $31.2 million, and down y/y from $ million.

Cash and equivalents ended at $ million, down sequentially from $372 million. No debt.

Total expenses were $ million, consisting of: cost of good sold $ million, R&D $ million, SG&A $ million, amortization $ million, intangible asset impairment charges $ million, contingent consideration loss $0 million. Leaving operating earnings of negative $ million. Interest and other income $ million. Income tax $ million.

Q&A (selective summary):

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