Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 44

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 on or before December 31, 2025 (2025 Milestone). The 2025 Milestone may only be achieved once.

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As of March 31, 2025, the possible outcomes for the remaining 2025 Milestone contingent consideration is $0 or $25.0 million on an undiscounted basis. As of March 31, 2025, the probability of achievement of 2025 Milestone is remote. The key assumptions considered in estimating the fair value of the Adamas sales-based milestones include the estimated revenue projections, volatility, estimated discount rates and risk-free interest rate. Change in the Fair Value of Contingent ConsiderationThe following tables provide a reconciliation of the beginning and ending balances related to the contingent consideration for the USWM Acquisition and Adamas Acquisition (dollars in thousands):USWM AcquisitionAdamas AcquisitionTotalBalance at December 31, 2024$47,340 $— $47,340 Change in fair value recognized in earnings7,660 — 7,660 Milestone payment(25,000)— (25,000)Balance at March 31, 2025 (unaudited)$30,000 $— $30,000 USWM AcquisitionAdamas AcquisitionTotalBalance at December 31, 2023$46,400 $7,050 $53,450 Change in fair value recognized in earnings680 (1,775)(1,095)Balance at March 31, 2024 (unaudited)$47,080 $5,275 $52,355 The Company recorded the following changes in fair value of the contingent consideration liability for the USWM milestones:•The Company recorded a $7.7 million expense due to the change in fair value of contingent consideration liabilities for the USWM milestones for the three months ended March 31, 2025, respectively. The change in fair value of contingent consideration was primarily due to accretion to the full milestone payment amount with the achievement of the milestones. ONAPGO was approved by the FDA in February 2025 and was launched in April 2025. •The Company recorded a $0.7 million expense due to the change in the fair value of the contingent consideration liabilities for the USWM milestones for the three months ended March 31, 2024, respectively. The change in fair value of contingent consideration for the USWM milestones was primarily due to passage of time.The Company recorded