---
schema_version: "secwatch.filing_event.v1"
accession: "0001356576-25-000062"
form_type: "8-K/A"
ticker: "SUPN"
cik: "0001356576"
company_name: "SUPERNUS PHARMACEUTICALS, INC."
filed_at: "2025-10-16T23:59:59+00:00"
generated_at: "2026-05-17T03:31:02.223199+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001356576-25-000062
- form_type: 8-K/A
- ticker: SUPN
- cik: 0001356576
- company_name: SUPERNUS PHARMACEUTICALS, INC.
- filed_at: 2025-10-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1356576/000135657625000062/0001356576-25-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1356576/000135657625000062/supn-20250731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001356576-25-000062
- JSON: https://secwatch.observer/filing/0001356576-25-000062.json
- Plain text: https://secwatch.observer/filing/0001356576-25-000062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.