Shares of pharmaceutical company Supernus Pharmaceuticals (NASDAQ: SUPN) have rallied premarket on Wednesday after the company released its third-quarter earnings results after the close on Tuesday evening.
Supernus revealed that its Q3 revenue had risen to $155.1 million, compared to $102.1 million in 2019. $152.1 million of its revenue came from product sales while $3 million came from royalties.
However, it is the company’s earnings and full-year revenue guidance that has caused the rise in its share price.
The Maryland based firm said its earnings per share came in at $0.74, above the $0.54 in Q3 2019 and way over analysts estimates that were in the range of $0.29 to $0.37.
Supernus increased its full-year product sales guidance to $500-$525 million from the previous $460-$500 million.
Tuesday’s earnings report has seen Supernus shares surge over 19% to $21.60 after the previous sessions close at $18.16.