Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 326

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 326
---
78.0 million in 2024. The decrease is primarily due to impairment charges on certain acquired intangible assets in the fourth quarter of 2023 which reduced amortization expense in fiscal year 2024, as well as on Oxtellar XR, which was fully amortized as of September 2024 and therefore, no further amortization expense was recognized in the fourth quarter of 2024.  

Intangible Asset Impairment Charges

The following table provides information regarding the intangible asset impairment charges during the periods indicated (dollars in thousands):

Year Ended December 31,Change20242023AmountPercentIntangible asset impairment charges$— $20,189 $(20,189)(100)%

In the fourth quarter of 2023, the Company recognized impairment charges of $20.2 million mainly due to the partial write-off of the carrying value of some of its acquired intangible assets, primarily XADAGO. The primary factors that led to the impairment determinations were the following: (1) the performance of the commercial products; (2) forthcoming loss of exclusivity of XADAGO; and (3) the change in the Company's future outlook of the brands. No impairment of intangible assets was recognized during the year ended December 31, 2024.

Contingent Consideration Gain

The following table provides information regarding the contingent consideration gain during the periods indicated (dollars in thousands):Year Ended December 31,Change 20242023AmountPercentContingent consideration gain$(6,110)$(1,517)$(4,593)303%

Contingent consideration was a gain for the years ended December 31, 2024 and December 31, 2023 of $6.1 million and $1.5 million, respectively. The change of $4.6 million was primarily driven by the non achievement of the 2024 sales-based milestone associated with the Adamas Acquisition.

Other Income (Expense)

The following table provides the components of other income (expense) during the years indicated (dollars in thousands):Year Ended December 31,Change20242023AmountPercentInterest income & other income, net$16,204 $10,453 $5,751 55%Interest expense— (1,321)1,321 (100)%Noncash interest expense on nonrecourse liability related to sale of future royalties— (562)562 (100)%Noncash interest expense on debt— (532)