Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 104

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 the three months ended March 31, 2025 and full year 2025 forecast as compared to the same periods in 2024. 

The Company's effective income tax rate for the three months ended March 31, 2025 varies from the statutory federal tax rate in United States (U.S. federal tax rate) of 21% primarily due to the impact of recurring permanent differences on a forecast near-break even loss. The Company's effective income tax rate for the three months ended March 31, 2024 varies from the statutory U.S. federal tax rate primarily due to the impact of discrete items on a year to date near break-even forecasted earnings before taxes.

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The annual forecasted earnings represent the Company's best estimate as of March 31, 2025 and 2024, are subject to change and could have a material impact on the effective tax rate in subsequent periods. Accounting Standard Codification 740, Income Taxes (ASC 740), requires the Company to estimate the annual effective income tax rate for the full year and apply it to earnings (loss) before taxes for each interim period, taking into account year-to-date amounts and projected results for the full year. 

Financial Condition, Liquidity and Capital Resources

Cash and Cash Equivalents and Marketable Securities

Cash and cash equivalents, marketable securities, and long-term marketable securities are comprised of the following (dollars in thousands): 

March 31December 31Change20252024AmountPercentCash and cash equivalents$115,848 $69,331 $46,517 67%Marketable securities347,742 384,281 (36,539)(10)%Total$463,590 $453,612 $9,978 2%

The Company believes its balances of cash, cash equivalents, and unrestricted marketable securities, which totaled $463.6 million as of March 31, 2025, along with cash generated from ongoing operations and continued access to debt markets, will be sufficient to satisfy its cash requirements over the next 12 months and beyond.

We have financed our operations primarily with cash generated from product sales, supplemented by revenues from royalty and licensing arrangements, as well as proceeds from the sale of equity and debt securities. Continued cash generation is highly dependent on the success of our commercial products, as well as the success of our product candidates if approved by the FDA. While we expect continued profitability in future years, we anticipate there may be significant variability from year to year in the level