Significant Growth in Core Products
Excluding Trokendi XR and Oxtellar XR, total revenues increased by 25% for the full year 2024, driven by Qelbree's 25% growth in annual prescriptions and 72% growth in annual net sales.
Strong Financial Performance
Total revenue for the full year 2024 was $661.8 million, an increase from $607.5 million in 2023. The company reported GAAP net earnings of $73.9 million, compared to $1.3 million in 2023.
FDA Approval and Patent Extension for Qelbree
Qelbree received FDA approval for an updated label and a two plus year patent term extension, enhancing its market position.
Successful Cash Generation and Strong Balance Sheet
The company generated approximately $300 million in cash from operations over two years, ending 2024 with $454 million in cash and no debt.
Launch of ONAPGO
FDA approved ONAPGO, a new growth product for treating Parkinson's disease, with a planned launch in the second quarter of 2025.