Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 64

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1C
Chunk 64
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 of the royalty rights reverted back to the Company during the second quarter of 2023 (see Note 2, Summary of Significant Accounting Policies).Adjustments related to prior year sales in 2024 was less than 3% of net product sales. The majority of the adjustment is attributable to Qelbree, reflecting favorable actual returns experienced in 2024. As a result, the Company changed its estimated provision for product returns based on the most recent experience. In 2023 and 2022, adjustments related to prior year sales have amounted to less than 1% of net product sales for each of the respective periods.

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Table of ContentsSupernus Pharmaceuticals, Inc.Notes to Consolidated Financial Statements (Continued)

The following table shows the percentage of net product sales to total net product sales:Percentage of Net Product SalesYear Ended December 31,202420232022Qelbree38%24%9%GOCOVRI20%21%16%Oxtellar XR16%20%18%APOKYN12%13%12%Trokendi XR10%16%40%Other(1)4%6%5%Total100%100%100%______________________________(1)   Includes net product sales of MYOBLOC, XADAGO and Osmolex ER.

4. Investments

Marketable SecuritiesUnrestricted available-for-sale marketable securities held by the Company are as follows (dollars in thousands):December 31, 2024December 31, 2023Corporate, U.S. government agency and municipal debt securitiesAmortized cost$384,481 $197,153 Gross unrealized gains89 5 Gross unrealized losses(289)(721)Total fair value$384,281 $196,437  As of December 31, 2024, all of our unrestricted available-for-sale marketable securities have contractual maturities of one year or less.There was no impairment on any available-for-sale marketable securities as of December 31, 2024 and December 31, 2023.Investment in NavitorIn April 2020, the Company entered into a development agreement (the Development Agreement) with Navitor Pharmaceuticals, Inc. (Navitor Inc.). The Company can terminate the Development Agreement upon 30 days' notice. Under the terms of the Development Agreement, the Company and Navitor Inc. will jointly conduct a Phase 2 clinical program for NV-5138 (SPN