Supernus plots product launches as it dusts off $76M IPO attempt

After leaving its IPO filing on the shelf for more than a year, Supernus Pharmaceuticals has finally dusted off the paperwork and suggested a $12 to $14 price range on some 5.8 million shares. If it can turn in a successful performance at the middle of that range, the biotech could raise as much as $76 million.

Rockville, MA-based Supernus, though, hasn't been idling on the IPO front without reason. The past year has seen one developer after the next being forced to take a beating on its price, chilling a long lineup of drug developers that has been anxiously eyeing prospects in the public markets. Only a handful, including Verastem, have managed to command a share price in the original range.

Supernus--which was spun off from Shire Pharmaceuticals--is gambling that with two epilepsy treatments at the FDA, with decisions slated for July and October, investors may warm to its offering. The biotech's pipeline includes experimental treatments for ADHD and depression. Most of the money it hopes to raise is being earmarked to market its epilepsy drugs.

"We intend to market our product candidates in the United States through our own focused sales force targeting specialty physicians, including neurologists and psychiatrists," Supernus explains in its S-1. For now, Supernus will have to rely on the prospect of sales to excite the investment community--a tough challenge in risk-averse times.

- here's the S-1
- get the story from the Washington Business Journal

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