Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 45

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 the following changes in fair value of the contingent consideration liabilities for the Adamas CVRs:

•The Company recorded a $1.8 million gain due to the change in fair value of the contingent consideration liabilities for the Adamas CVRs for the three months ended March 31, 2024. The change in fair value of contingent consideration was primarily due to passage of time.

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7.    Intangible Assets, Net

The following table sets forth the gross carrying amounts and related accumulated amortization of intangible assets (dollars in thousands):March 31,2025December 31,2024(unaudited)Remaining WeightedAverage Life (Years)Carrying Amount, GrossAccumulated AmortizationCarrying Amount, NetCarrying Amount, GrossAccumulated AmortizationCarrying Amount, NetAcquired in-process research and development$— $— $— $124,000 $— $124,000 Intangible assets subject to amortization:Acquired developed technology and product rights6.7785,311 (283,185)502,126 661,311 (263,399)397,912 Capitalized patent defense costs0.043,820 (43,820)— 43,820 (43,820)— Total intangible assets6.7$829,131 $(327,005)$502,126 $829,131 $(307,219)$521,912 Amortization expense for intangible assets was $19.8 million for the three months ended March 31, 2025, and $20.1 million for the three months ended March 31, 2024, respectively. In February 2025, the FDA approved ONAPGO and as such, the research and development efforts for the Company's acquired in-process research and development asset is considered complete. As of the FDA approval date, the ONAPGO intangible asset is a definite-life intangible asset subject to amortization and has a useful life of 10 years.U.S. patents covering Trokendi XR and Oxtellar XR will expire no earlier than 2027. The Company entered into settlement agreements that allowed third parties to enter the Trokendi XR market on January 1, 2023. The Company entered into settlement and license agreements that allowed a third party to enter the Oxtellar XR market in September 2024.The Company entered into settlement and license agreements that allows third parties to