Supernus closes Sage acquisition for $8.50/share + CVRs; pro forma shows $118M H1 loss

SUPERNUS PHARMACEUTICALS, INC.

Acquisition closed July 31, 2025; Supernus paid $8.50 per share cash plus CVRs up to $3.50 per share.
Pro forma net loss of $118.2M for six months ended June 30, 2025; $415.9M loss for FY 2024.
Contingent consideration liability of $35.7M recorded for CVRs tied to ZURZUVAE sales milestones.
Sage's marketed drug ZURZUVAE (postpartum depression) added to Supernus portfolio; collaboration with Biogen.
Supernus funded acquisition with cash and marketable securities; equity awards settled in cash.

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