Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 383

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 383
---
 prompt pay discount and contractual service fees as reduction to gross product sales at the time of sale. See Note 2, Summary of Accounting Policies - Revenue from Product Sales. 

Inventories, netInventories consist of the following (dollars in thousands): December 31,2024December 31,2023Raw materials$11,127 $16,274 Work in process26,725 31,212 Finished goods16,441 29,922 Total$54,293 $77,408 

Table of ContentsSupernus Pharmaceuticals, Inc.Notes to Consolidated Financial Statements (Continued)14. Composition of Other Balance Sheet Items (Continued)

The Company recorded inventory write-offs of $8.9 million and $8.0 million for the years ended December 31, 2024 and 2023, respectively. The inventory write-offs are reported on the consolidated statement of earnings in Cost of goods sold.

Property and Equipment, netProperty and equipment consist of the following (dollars in thousands): December 31,2024December 31,2023Lab equipment and furniture$13,370 $13,069 Leasehold improvements14,023 14,023 Software883 883 Computer equipment1,112 960 29,388 28,935 Less accumulated depreciation and amortization(17,843)(15,405)Total$11,545 $13,530 Depreciation and amortization expense on property and equipment was approximately $2.4 million, $2.5 million, and $3.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Accounts Payable and Accrued LiabilitiesAccounts payable and accrued liabilities consist of the following (dollars in thousands): December 31,2024December 31,2023Accounts payable$4,587 $1,964 Accrued compensation, benefits, & related accruals21,225 20,722 Accrued sales & marketing11,007 11,666 Accrued manufacturing expenses11,652 11,652 Accrued R&D expenses5,898 10,530 Operating lease liabilities, current portion (1)6,889 8,331 Accrued royalties (2)8,105 7,918 Other accrued expenses6,989 6,786 Total$