Supernus Pharmaceuticals, Inc. Announces Closing of Initial Public Offering

Supernus Pharmaceuticals, Inc. SUPN -1.49% (the "Company"), today announced the closing of its initial public offering of 10,000,000 of its common stock at a price of $5.00 per share. The Company's shares are listed on The NASDAQ Global Market under the trading symbol "SUPN." After underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds of approximately $45.5 million. 

The Company expects to use all of the net proceeds from this offering received by the Company to fund the expected commercial launch of SPN-538 and the preparation for the commercial launch of SPN-804, the continued clinical development of SPN-810 and SPN-812, the repayment of a portion of the principle of the term loans under our secured credit facility and for other general corporate purposes. 

Citigroup and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Stifel Nicolaus Weisel are acting as co-managers. 

A copy of the final prospectus related to these securities may be obtained by contacting: Citigroup at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, telephone: 1-800-831-9146 or email: batprospectusdept@citi.com, or Piper Jaffray & Co. at 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, telephone: 1-800-747-3924 or e-mail: prospectus@pjc.com. 

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Supernus Pharmaceuticals Initiates Phase IIb Clinical Trial for SPN-810 in Impulsive Aggression

Supernus Pharmaceuticals, Inc. today announced the initiation of a Phase IIb U.S. clinical trial of its product candidate SPN-810 in the treatment of impulsive aggression in the setting of ADHD. The study is a multi-center randomized, double-blind, placebo controlled clinical trial in children 6 to 12 diagnosed with Attention Deficit and Hyperactivity Disorder (ADHD) and characterized by impulsive aggression that is not controlled by optimal stimulant and psychosocial treatment.The primary objective of the study is the effect of SPN-810, given at three different dose levels, in reducing impulsive aggression (measured with the Modified Overt Aggression Scale), after at least three weeks of treatment. Secondary objectives include safety and tolerability of SPN-810 as well as the effect on the Clinical Global Impression and the SNAP-IV Questionnaire to monitor the underlying ADHD condition. Patients who complete the study are offered the opportunity to continue into an open-label phase of six months duration.SPN-810 is a molecule that has been previously approved in the United States for treatment of other indications. It has a mechanism of action that is promising for the treatment of aggression and serious conduct problems. Approximately 25% of children with ADHD exhibit persistent conduct problems, such as impulsive aggression. Currently there are no products approved for treating impulsive aggression in patients with ADHD."The initiation of this study demonstrates our commitment to developing SPN-810 as a novel approach to addressing this unmet medical need," said Jack Khattar, Supernus president and CEO. "We are excited about the progress we have achieved on SPN-810 since we received positive Phase IIa results in 2010. We look forward to continuing to advance SPN-810 in the clinic and potentially bringing its unique benefits to children diagnosed with ADHD with impulsive aggression."