Supernus Pharmaceuticals Inc. (NASDAQ:SUPN) reported second-quarter 2026 results on Monday that fell short of earnings expectations but exceeded revenue forecasts, while also announcing a merger agreement with Indivior Pharmaceuticals (NASDAQ:INDV).
The combination of stronger sales, improved guidance and the proposed transaction sent Supernus shares up 18.75% in pre-market trading.
Revenue Tops Expectations Despite Earnings Loss
Supernus posted a quarterly loss of $1.01 per share, missing analysts’ consensus estimate of earnings of $0.43 per share.
Revenue, however, came in well ahead of expectations, rising to $219.1 million compared with the consensus forecast of $205.63 million. Quarterly sales were up 32% from the same period a year earlier.
The company said the earnings shortfall was largely attributable to a non-cash impairment charge of $54.9 million related to APOKYN intangible assets.
Supernus and Indivior Agree to Merge
Alongside its earnings release, Supernus announced that it has entered into a definitive agreement to combine with Indivior Pharmaceuticals in an all-stock merger of equals.
The transaction is intended to create a more diversified biopharmaceutical company focused on treatments for disorders affecting the central nervous system.
Company Raises 2026 Financial Outlook
Supernus also increased its revenue guidance for full-year 2026.
The company now expects revenue to range between $860 million and $890 million, compared with its previous outlook of $840 million to $870 million.
The revised midpoint of $875 million represents an improvement over the earlier forecast.
Adjusted operating earnings guidance was also increased to a range of $150 million to $180 million, up from the previous projection of $140 million to $170 million.
However, the company widened its expected GAAP operating loss to between $20 million and $50 million, compared with prior guidance that ranged from break-even to a $30 million loss, reflecting the APOKYN impairment charge.
Management Points to Strong Commercial Execution
President and Chief Executive Officer Jack Khattar said the company continued to benefit from the performance of its key growth products.
“Our first-half 2026 results reflect the continued strength and sustained momentum of our growth products and continued execution on our commercial strategy,” said Jack Khattar, President and CEO of Supernus.
Growth Portfolio Continues to Expand
Combined revenue from Supernus’ four key growth products increased 52% year over year to $175.7 million during the second quarter.
Qelbree generated net sales of $89.2 million, representing 15% growth from the prior year.
Collaboration revenue from ZURZUVAE totaled $35.4 million, while ONAPGO contributed net sales of $13.5 million.
Sales of GOCOVRI increased 2% year over year to $37.6 million.