Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 43

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 the FDA's approval of the SPN-830 NDA in February 2025. As of March 31, 2025, the remaining potential contingent consideration payment is the $30 million related to the commercial product launch. ONAPGO was launched in April 2025. As such, the Company expects the remaining $30 million milestone payment to be due and paid in 2025, subject to certain holdbacks as permitted under the Sale and Purchase Agreement Relating to USWM Enterprises, LLC, dated April 28, 2020, by and between US WorldMeds Partners, LLC and Supernus Pharmaceuticals, Inc. The fair value level of the remaining USWM contingent consideration was transferred from Level 3 to Level 1 as of March 31, 2025.Prior to March 31, 2025, when the milestone payment amount related to the commercial launch of ONAPGO was a known amount as above mentioned, the key assumptions considered in estimating the fair value include the estimated probability and timing of milestone achievement, and the discount rate.Adamas Contingent ConsiderationOn November 24, 2021 (the Adamas Closing Date), the Company completed its acquisition of all the outstanding equity of Adamas (Adamas Acquisition). The Adamas Acquisition included payment of two non-tradable contingent value rights (CVRs) each of which represents the contractual right to receive a contingent payment upon the achievement of the applicable aggregate worldwide net product sales of GOCOVRI. Each CVR represents the contractual right to receive a contingent payment of $0.50 per share in cash, less any applicable withholding taxes and without interest, upon the achievement of the applicable milestone (each such amount, a Milestone Payment) in accordance with the terms of a Contingent Value Rights Agreement entered into between the Company and American Stock Transfer & Trust Company, LLC, as rights agent, as further defined in the CVR agreement. One Milestone Payment was payable (subject to certain terms and conditions) upon the first occurrence of the achievement of aggregate worldwide net sales of GOCOVRI in excess of $150 million during any consecutive 12-month period ending on or before December 31, 2024 (2024 Milestone). The 2024 Milestone was not met. Another Milestone Payment is payable (subject to certain terms and conditions) upon the first occurrence of the achievement of aggregate worldwide net sales of GOCOVRI in excess of $225 million during any consecutive 12-month period ending