{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-059687","form_type":"8-K","ticker":"SUPN","cik":"0001356576","company_name":"SUPERNUS PHARMACEUTICALS, INC.","filed_at":"2025-06-16T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.056688+00:00","generated_at":"2026-05-19T06:11:27.226492+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Supernus acquires Sage Therapeutics for up to $795M ($12/share including CVR)","bullets":["Supernus to acquire Sage via tender offer at $8.50/share cash plus CVR up to $3.50/share, total up to $795M.","CVR milestones tied to Zurzuvae net sales thresholds ($250M–$375M in U.S. by 2027–2030) and Japan approval.","Deal expected to close Q3 2025; funded from Supernus's cash; cost synergies up to $200M annually.","ZURZUVAE (zuranolone) for postpartum depression is the key asset; Supernus records 50% of U.S. net revenue via Biogen collab.","Transaction unanimously approved by both boards; expected to be significantly accretive in 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-059687","json":"https://secwatch.observer/filing/0001104659-25-059687.json","markdown":"https://secwatch.observer/filing/0001104659-25-059687.md","text":"https://secwatch.observer/filing/0001104659-25-059687.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1356576/000110465925059687/0001104659-25-059687-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1356576/000110465925059687/tm2518064d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-19T06:11:27.226492+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}