Supernus Pharmaceuticals: Anti-CGRPs Are Causing Migraines For This Biotech But Investors Are Too Pessimistic Creating A Compelling Opportunity

Supernus Pharmaceuticals (SUPN) was founded in 2005 and was previously a subsidiary of Shire PLC (SHPG). SUPN and its management team have developed and commercialized the central nervous system (“CNS”) products for more than 25 years. The company’s two commercial products are Oxtellar XR® and Trokendi XR® both originally for the treatment of epilepsy. SUPN drugs are extended-release versions of earlier immediate-release branded products. SUPN found that by using extended-release formulations, these two molecules could achieve smoother blood saturation levels resulting in patients with fewer negative side effects and better disease management. In August 2016, SUPN expanded the label for Trokendi by gaining FDA approval for use with migraines. SUPN then built on that label expansion in April 2017 by gaining further approval for Trokendi for use in children over 12 with migraines. This went extremely well for SUPN and led to the strong stock price from 2016 to mid-2018.

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