Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 64

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 million of estimated provision for product returns related to prior year sales. 

The provision for product rebates increased to $105.2 million for three months ended March 31, 2025 from $101.0 million for the three months ended March 31, 2024. The increase was primarily attributable to higher Qelbree sales and unfavorability in government programs as a result of product price increases in Q1 2025.

Royalty, Licensing and Other Revenues

Royalty, licensing and other revenues were $7.8 million and $5.2 million for the three months ended March 31, 2025 and 2024, respectively. The increase was due to increase in royalty revenues from Oxtellar XR. The Company entered into settlement and license agreements that allowed a third party to enter the Oxtellar XR market in September 2024.

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Cost of Goods Sold 

Cost of goods sold was $15.8 million and $16.3 million for the three months ended March 31, 2025 and 2024, respectively. The decrease was primarily driven by lower APOKYN royalties due to lower sales and a decline in net product sales of Oxtellar XR and Trokendi XR due to generic erosion.

Research and Development Expenses

R&D expenses were $26.9 million and $24.9 million for the three months ended March 31, 2025 and 2024, respectively. The increase was primarily due to increased clinical program costs on SPN-817 and on the open-label study of Qelbree.

Selling, General and Administrative Expenses

The following table provides information regarding our selling, general and administrative (SG&A) expenses during the periods indicated (dollars in thousands):

Three Months EndedMarch 31,Change20252024AmountPercentSelling and marketing $63,278 $59,567 $3,711 6%General and administrative 26,666 26,949 (283)(1)%Total $89,944 $86,516 $3,428 4%

Selling and marketing expenses were $63.3 million and $59.6 million for the three months ended March 31, 2025 and 2024, respectively. The increase was primarily due to timing of product sample shipments.

Amortization of Intangible Assets

Amortization of intangible assets was $19.8 million and $20.1 million for the three months ended March 31,