SUPERNUS PHARMACEUTICALS, INC.

Previous wording

Pursuant to the Indivior Merger Agreement, and upon the terms and subject to the conditions thereof, Merger Sub will merge with and into the Company (the "Merger"), with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Indivior. Following the completion of the Merger, the combined company will be renamed "Supernus, Inc." and its shares of common stock are expected to continue trading on the Nasdaq Stock Market under the ticker symbol "SUPN". The Merger and the other transactions contemplated by the Indivior Merger Agreement are referred to collectively as the "Transactions". The consummation of the Transactions is subject to various regulatory approvals and customary terms and conditions set forth in the Indivior Merger Agreement.

Current wording

Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Merger Sub will merge with and into the Company (the "Merger"), with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Indivior. Following the completion of the Merger, the combined company will be renamed "Supernus, Inc." and its shares of common stock are expected to continue trading on the Nasdaq Stock Market under the ticker symbol "SUPN". The Merger and the other transactions contemplated by the Merger Agreement are referred to collectively as the "Transactions". The consummation of the Transactions is subject to various regulatory approvals and customary terms and conditions set forth in the Merger Agreement.

Previous wording

Pursuant to the terms of the Merger Agreement, as of the Effective Time, (i) the board of directors of the Combined Company (the "Combined Company Board") will consist of eight individuals, including four individuals who are nominees of the board of directors of Indivior immediately prior to the Effective Time and four individuals who are nominees of the board of directors of Supernus immediately prior to the Effective Time; (ii) the Chair of the Combined Company Board will be a nominee of Indivior; (iii) Jack A. Khattar will serve as Chief Executive Officer and as a member of the Combined Company Board; and (iv) Timonthy C. Dec will serve as Chief Financial Officer.

Current wording

Pursuant to the terms of the Merger Agreement, as of the Effective Time, (i) the board of directors of the Combined Company (the "Combined Company Board") will consist of eight individuals, including four individuals who are nominees of the board of directors of Indivior immediately prior to the Effective Time and four individuals who are nominees of the board of directors of Supernus immediately prior to the Effective Time; (ii) the Chair of the Combined Company Board will be a nominee of Indivior; (iii) Jack A. Khattar will serve as Chief Executive Officer and as a member of the Combined Company Board; and (iv) Timothy C. Dec will serve as Chief Financial Officer.

Previous wording

•ONAPGOTM (apomorphine hydrochloride) injection is the first and only subcutaneous apomorphine infusion device for the treatment of motor fluctuations in adults with advanced PD. ONAPGO was approved by the FDA in February 2025. ONAPGO was launched in April 2025.

Current wording

•ONAPGOTM (apomorphine hydrochloride) injection is the first and only subcutaneous apomorphine infusion device for the treatment of motor fluctuations in adults with advanced PD. ONAPGO was approved by the FDA in February 2025. ONAPGO was launched in April 2025. In October 2026, the FDA recognized seven years of orphan-drug exclusive approval for ONAPGO (apomorphine HCl) for the treatment of motor fluctuations in adults with advanced Parkinson’s disease. The seven-year market exclusivity for ONAPGO began on February 3, 2025, the date of FDA approval.

Previous wording

•ZURZUVAE® (zuranolone) capsules is the first and only FDA approved oral medicine indicated for the treatment of PPD in adults. ZURZUVAE is a neuroactive steroid that is a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, and is the first oral, once-daily, 14-day treatment specifically indicated for adults with PPD. ZURZUVAE became commercially available in the U.S. in December 2023 as a treatment option for women with PPD. The Company and our collaboration partner, Biogen, are jointly commercializing

Current wording

•ZURZUVAE® (zuranolone) capsules is the first and only FDA approved oral medicine indicated for the treatment of PPD in adults. ZURZUVAE is a neuroactive steroid that is a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, and is the first oral, once-daily, 14-day treatment specifically indicated for adults with PPD. ZURZUVAE became commercially available in the U.S. in December 2023 as a treatment option for women with PPD. The Company and our collaboration partner, Biogen, are jointly commercializing ZURZUVAE in the U.S. under the Biogen Collaboration Agreement. The Company and Biogen equally share in all operating profits and losses arising from sales of ZURZUVAE in the U.S., with Biogen recording such product sales.

Previous wording

The Company completed a Phase 1 single dose study in healthy adults in 2024 following submission of an Investigational New Drug Application. The study was a first in human, pilot pharmacokinetic study of two oral formulations of SPN-443 in healthy adults. The primary objective of the study was to assess safety and tolerability. This molecule, along with its major metabolites, is an inhibitor of norepinephrine, dopamine and serotonin, also known as a triple reuptake inhibitor. Both formulations of SPN-443 showed adequate bioavailability and were well tolerated. The Company plans to initiate Single

Current wording

The Company completed a Phase 1 single dose study in healthy adults in 2024 following submission of an Investigational New Drug Application. The study was a first in human, pilot pharmacokinetic study of two oral formulations of SPN-443 in healthy adults. The primary objective of the study was to assess safety and tolerability. This molecule, along with its major metabolites, is an inhibitor of norepinephrine, dopamine and serotonin, also known as a triple reuptake inhibitor. Both formulations of SPN-443 showed adequate bioavailability and were well tolerated. The Company expects to initiate Phase 1 Single Ascending Dose (SAD) and Multiple Ascending Dose (MAD) studies by the end of 2026.

Previous wording

•Collaboration revenue from ZURZUVAE was $35.4 million in the second quarter of 2026. Collaboration revenue represents 50% of the net revenues for ZURZUVAE recorded by Biogen Inc. Second quarter 2026 U.S sales of ZURZUVAE, as reported by Biogen Inc., increased approximately 53% compared to the same period in 2025. The total number of prescriptions for ZURZUVAE increased by 62% in the second quarter of 2026 compared to the same period last year.

Current wording

•Collaboration revenue from ZURZUVAE was $41.7 million in the third quarter of 2026. Collaboration revenue represents 50% of the net revenues for ZURZUVAE recorded by Biogen Inc. Third quarter 2026 U.S sales of ZURZUVAE, as reported by Biogen Inc., increased approximately 53% compared to the same period in 2025. The total number of prescriptions for ZURZUVAE increased by 43% in the third quarter of 2026 compared to the same period last year.

Previous wording

•Net sales of Qelbree increased 15% to $89.2 million in the second quarter of 2026, compared to the same period in 2025. Total IQVIA prescriptions for Qelbree were 264,545 for the second quarter 2026, representing an increase of 17% compared to the same period last year. Prescription growth in the adult and pediatric populations was 25% and 14%, respectively.

Current wording

•Net sales of Qelbree increased 12% to $90.8 million in the third quarter of 2026, compared to the same period in 2025, driven primarily by volume growth. Total IQVIA prescriptions for Qelbree were 282,887 for the third quarter 2026, representing an increase of 18% compared to the same period last year. Prescription growth in the adult and pediatric populations was 25% and 16%, respectively, compared to the same period last year.

Previous wording

•The Phase 2b multi-center, randomized, double-blind, placebo-controlled trial in approximately 200 adults with MDD is ongoing. The study will examine the safety and tolerability of SPN-820 2400mg given intermittently (twice weekly) as an adjunctive treatment to the current baseline antidepressant therapy, as well as assess the rapid onset of improvement in depressive symptoms.

Current wording

•The Phase 2b multi-center, randomized, double-blind, placebo-controlled trial in approximately 200 adults with major depressive disorder (MDD). The study will examine the safety and tolerability of SPN-820 2400mg given intermittently (twice weekly) as an adjunctive treatment to the current baseline antidepressant therapy, as well as assess the rapid onset of improvement in depressive symptoms.

Previous wording

SPN-443 – Novel stimulant for ADHD

Current wording

SPN-443 – Novel stimulant for attention-deficit/hyperactivity disorder (ADHD)

Previous wording

•The Company expects to initiate a Phase 1 single-ascending/multiple-ascending dose study in adult healthy volunteers in the second half of 2026.

Current wording

•The Company expects to initiate a Phase 1 single-ascending/multiple-ascending dose study in adult healthy volunteers by the end of 2026.

Previous wording

Comparison of the Three and Six Months ended Months Ended June 30, 2026 and 2025

Current wording

Comparison of the Three and Nine Months ended Months Ended September 30, 2026 and 2025

Previous wording

Revenues consist primarily of net product sales of our commercial products in the U.S., supplemented by our collaboration revenue from the Biogen Collaboration Agreement and royalty and licensing revenues from our collaborative licensing arrangements. The following table provides information regarding our revenues during the three and six months ended June 30, 2026 (dollars in thousands):

Current wording

Revenues consist primarily of net product sales of our commercial products in the U.S., supplemented by our collaboration revenue from the Biogen Collaboration Agreement and royalty and licensing revenues from our collaborative licensing arrangements. The following table provides information regarding our revenues during the three and nine months ended September 30, 2026 (dollars in thousands):

Previous wording

Net product sales were $165.7 million and $158.0 million for the three months ended June 30, 2026 and 2025, respectively. Net product sales were $316.5 million and $300.0 million for the six months ended June 30, 2026 and 2025, respectively. The increase was primarily due to increases in net product sales from ONAPGO, which was launched in the second quarter of 2025, and Qelbree due to higher volume and higher price, partially offset by decline in net product sales of APOKYN due to lower volume, and decline in net product sales of Oxtellar XR and Trokendi XR due to generic erosion.

Current wording

Net product sales were $178.6 million and $168.5 million for the three months ended September 30, 2026 and 2025, respectively. Net product sales were $495.0 million and $468.5 million for the nine months ended September 30, 2026 and 2025, respectively. The increase in both periods was primarily due to increases in net product sales from ONAPGO, which was launched in the second quarter of 2025, and Qelbree due to higher volume and higher price, partially offset by a decline in net product sales of APOKYN due to lower volume, and a decline in net product sales of Oxtellar XR and Trokendi XR due to generic erosion.

Previous wording

Adjustments related to prior year sales for the six months ended June 30, 2026 were approximately 1% of net product sales. Adjustments related to prior year sales for the six months ended June 30, 2025 were approximately 4% of net product sales. In 2025, the Company had favorable actual returns experience and as a result, the Company changed its estimated provision for product returns based on the most recent experience. Adjustments related to prior year sales for the six months ended June 30, 2025 were primarily attributable to Qelbree. Refer to discussion Sales Deductions and Related Accruals below.

Current wording

Adjustments related to prior year sales for the nine months ended September 30, 2026 were approximately 1% of net product sales. Adjustments related to prior year sales for the nine months ended September 30, 2025 were approximately 4% of net product sales. In 2025, the Company had favorable actual returns experience and as a result, the Company changed its estimated provision for product returns based on the most recent experience. Adjustments related to prior year sales for the nine months ended September 30, 2025 were primarily attributable to Qelbree. Refer to discussion Sales Deductions and Related Accruals below.

Previous wording

On November 4, 2025, we announced that due to stronger than expected demand for ONAPGO, supplier constraints were impacting our ability to fully meet this demand. ONAPGO is manufactured in Europe, supplied to us by our ONAPGO licensing partner, and packaged in the U.S. by a third-party contract manufacturing organization. We currently rely on single source suppliers to produce and package final dosage forms for ONAPGO. In February 2026, we announced that we have made progress in securing additional product supply of ONAPGO from the current supplier and as a result, has resumed new patient initiation. In addition, we are working with a second supplier that is expected to begin supplying ONAPGO in 2027, provided regulatory approval is obtained. Any changes in any of the suppliers would require regulatory approval which could cause a further delay in manufacturing and a possible loss of sales, which could affect future operating results adversely.

Current wording

On November 4, 2025, we announced that due to stronger than expected demand for ONAPGO, supplier constraints were impacting our ability to fully meet this demand. ONAPGO is manufactured in Europe, supplied to us by our ONAPGO licensing partner, and packaged in the U.S. by a third-party contract manufacturing organization. We currently rely on single source suppliers to produce and package final dosage forms for ONAPGO. In February 2026, we announced that we have made progress in securing additional product supply of ONAPGO from the current supplier and as a result, has resumed new patient initiation. In October 2026 the Company submitted a supplemental New Drug Application (sNDA) to the FDA for a second supplier for ONAPGO, with potential FDA approval by mid-year 2027. Any changes in any of the suppliers would require regulatory approval which could cause a further delay in manufacturing and a possible loss of sales, which could affect future operating results adversely.

Previous wording

The accrued product returns balance decreased to $36.7 million as of June 30, 2026 from $46.0 million as of June 30, 2025. This decrease was primarily due to favorable returns processed in 2025. During 2025, the Company had favorable actual returns experience. As a result, the Company changed its estimated provision for product returns based on the most recent experience. The provision for product returns related to prior year sales, which was $0.6 million and $12.5 million as of June 30, 2026 and 2025, respectively, was primarily attributable to Qelbree, reflecting continued favorable actual returns experienced in 2025.

Current wording

The accrued product returns balance decreased to $33.8 million as of September 30, 2026 from $43.3 million as of September 30, 2025. This decrease was primarily due to favorable returns processed in 2025. During 2025, the Company had favorable actual returns experience. As a result, the Company changed its estimated provision for product returns based on the most recent experience. The provision for product returns related to prior year sales, which was $5.9 million and $16.3 million as of September 30, 2026 and 2025, respectively, was primarily attributable to Qelbree, reflecting continued favorable actual returns experienced in 2025.

Previous wording

The accrued product rebates balance increased to $162.1 million as of June 30, 2026 from $134.9 million as of June 30, 2025 primarily due to timing of payments associated with government programs.

Current wording

The accrued product rebates balance increased to $131.5 million as of September 30, 2026 from $141.2 million as of September 30, 2025 primarily due to timing of payments associated with government programs.

Previous wording

The provision for product returns increased to $2.9 million for the six months ended June 30, 2026 from ($5.2) million for the six months ended June 30, 2025. The increase was primarily due to aforementioned change in estimated provision for product returns in 2025 based on the most recent experience, which was primarily attributable to Qelbree.

Current wording

The provision for product returns increased to $2.3 million for the nine months ended September 30, 2026 from ($6.6) million for the nine months ended September 30, 2025. The increase was primarily due to aforementioned change in estimated provision for product returns in 2025 based on the most recent experience, which was primarily attributable to Qelbree.

Previous wording

The provision for product rebates increased to $249.5 million for the six months ended June 30, 2026 from $207.5 million for the six months ended June 30, 2025. The increase was primarily attributable to higher Qelbree, GOCOVRI, and ONAPGO sales.

Current wording

The provision for product rebates increased to $373.8 million for the nine months ended September 30, 2026 from $295.1 million for the nine months ended September 30, 2025. The increase was primarily attributable to higher Qelbree, GOCOVRI, and ONAPGO sales.

Previous wording

Collaboration revenue (ZURZUVAE) was $35.4 million and $63.0 million for the three and six months ended June 30, 2026. The Collaboration revenue (ZURZUVAE) revenue stream is due to the Sage Acquisition in July 2025.

Current wording

Collaboration revenue (ZURZUVAE) was $41.7 million and $20.2 million for the three months ended September 30, 2026 and 2025, respectively. Collaboration revenue (ZURZUVAE) was $104.7 million and $20.2 million for the nine months ended September 30, 2026 and 2025, respectively. The Collaboration revenue (ZURZUVAE) revenue stream is due to the Sage Acquisition in July 2025.

Previous wording

Royalty, licensing and other revenues were $18.0 million and $7.5 million for the three months ended June 30, 2026 and 2025, respectively. Royalty, licensing and other revenues were $47.3 million and $15.3 million for the six months ended June 30, 2026 and 2025, respectively. The increase was primarily due to increased purchases of inventory under the Company's collaboration agreement with Shionogi, and the recognition of $20.0 million of licensing revenues related to the achievement of a commercial milestone under the Company's collaboration agreement with Shionogi in the six month period ended June 30, 2026.

Current wording

Royalty, licensing and other revenues were $6.5 million and $3.4 million for the three months ended September 30, 2026 and 2025, respectively. Royalty, licensing and other revenues were $53.8 million and $18.7 million for the nine months ended September 30, 2026 and 2025, respectively. The increase was primarily due to increased sales of inventory under the Company's collaboration agreement with Shionogi, and the recognition of $20.0 million of licensing revenues related to the achievement of a commercial milestone under the Company's collaboration agreement with Shionogi in the nine month period ended September 30, 2026.

Previous wording

Cost of revenues were $33.7 million and $16.8 million for the three months ended June 30, 2026 and 2025, respectively. Cost of revenues were $57.1 million and $32.6 million for the six months ended June 30, 2026 and 2025, respectively. The increase was primarily driven by higher costs of Qelbree due to increased sales, ONAPGO, which was launched in the second quarter of 2025 and increased sales in the first half of 2026, and higher bulk and commercial inventory sales related to ZURZUVAE. These increases were partially offset by lower APOKYN royalties due to lower sales and lower Trokendi XR and Oxtellar XR costs, primarily due to generic erosion.

Current wording

Cost of revenues were $27.0 million and $19.0 million for the three months ended September 30, 2026 and 2025, respectively. Cost of revenues were $84.1 million and $51.6 million for the nine months ended September 30, 2026 and 2025, respectively. The increase was primarily driven by higher costs of Qelbree due to increased sales, ONAPGO, which was launched in the second quarter of 2025 and increased sales in 2026, and higher bulk and commercial inventory sales related to ZURZUVAE. These increases were partially offset by lower APOKYN royalties due to lower sales and lower Trokendi XR and Oxtellar XR costs, primarily due to generic erosion.

Previous wording

Research and Development (R&D) expenses were $29.5 million and $22.1 million for the three months ended June 30, 2026 and 2025, respectively. R&D expenses were $68.9 million and $49.0 million for the six months ended June 30, 2026 and 2025, respectively. The increase in the three month period ended June 30, 2026 is primarily due to the increase in clinical program costs on SPN-817 and early-stage programs. The increase in the six month period ended June 30, 2026 was primarily due to an increase in clinical program costs on SPN-817, which includes the $10.0 million expense to former Biscayne security holders, as well as increased spending on other early-stage programs.

Current wording

Research and Development (R&D) expenses were $25.8 million and $29.4 million for the three months ended September 30, 2026 and 2025, respectively. R&D expenses were $94.7 million and $78.4 million for the nine months ended September 30, 2026 and 2025, respectively. The decrease in the three month period ended September 30, 2026 is primarily due clinical program delays. The increase in the nine month period ended September 30, 2026 was primarily due to an increase in clinical program costs on SPN-817, which includes the $10.0 million expense to former Biscayne security holders, as well as increased spending on other early-stage programs.

Previous wording

Selling and marketing expenses were $92.8 million and $65.1 million for the three months ended June 30, 2026 and 2025, respectively. Selling and marketing expenses were $179.8 million and $128.4 million for the six months ended June 30, 2026 and 2025, respectively. The increase in both periods was primarily due to the Company's proportionate share of expenses from the collaboration arrangement with Biogen, higher professional and consulting expenses, higher employee-related expenses, and higher marketing expense related to ONAPGO, which was launched in the second quarter of 2025.

Current wording

Selling and marketing expenses were $90.5 million and $77.1 million for the three months ended September 30, 2026 and 2025, respectively. Selling and marketing expenses were $270.3 million and $205.5 million for the nine months ended September 30, 2026 and 2025, respectively. The increase in both periods was primarily due to the Company's proportionate share of expenses from the collaboration arrangement with Biogen, higher employee-related expenses, and higher marketing expense related to ONAPGO, which was launched in the second quarter of 2025, and ZURZUVAE, which was acquired through the acquisition of Sage in July 2025.

Previous wording

Amortization of intangible assets was $25.3 million and $20.8 million for the three months ended June 30, 2026 and 2025, respectively. Amortization of intangible assets was $51.0 million and $40.6 million for the six months ended June 30, 2026 and 2025, respectively. The increase was primarily due to ZURZUVAE intangible asset amortization expense. ZURZUVAE intangible asset was acquired as part of the Sage Acquisition in July 2025.

Current wording

Amortization of intangible assets was $23.2 million and $24.3 million for the three months ended September 30, 2026 and 2025, respectively. Amortization of intangible assets was $74.2 million and $64.9 million for the nine months ended September 30, 2026 and 2025, respectively. The decrease in the three month period ended September 30, 2026 as compared to the three month period ended September 30, 2025 was primarily due to the intangible asset impairment charge recognized in the second quarter of 2026. The increase in the nine month period ended September 30, 2026 as compared to the nine month period ended September 30, 2025 was primarily due to ZURZUVAE intangible asset amortization expense. ZURZUVAE intangible asset was acquired as part of the Sage Acquisition in July 2025.

Previous wording

Intangible asset impairment charge was $54.9 million for the three and six months ended June 30, 2026. The increase was due to an impairment charge related to the APOKYN intangible asset.

Current wording

Impairment charges was $1.5 million and $56.5 million for the three and nine months ended September 30, 2026. There were no impairment charges in the three and nine months ended September 30, 2025. The increase in the nine month period ended September 30, 2026 was primarily due to an impairment charge related to the APOKYN intangible asset recognized in the second quarter of 2026.

Previous wording

There was no contingent consideration loss for the three months ended June 30, 2026 and 2025. Contingent consideration loss was $2.4 million and $7.7 million for the six months ended June 30, 2026 and 2025, respectively. The contingent consideration loss for the six months ended June 30, 2026 was primarily due to the accretion of a Sage CVR to the full milestone payment amount with the achievement of a regulatory milestone with the approval of ZURZUVAE for the treatment of MDD in Japan. For the six months ended June 30, 2025, the loss was due to the accretion to the full milestone payment amount with the achievement of the USWM milestones. ONAPGO was approved by the FDA in February 2025 and was launched in April 2025.

Current wording

There was no contingent consideration loss for the three months ended September 30, 2026 and 2025. Contingent consideration loss was $2.4 million and $7.7 million for the nine months ended September 30, 2026 and 2025, respectively. The contingent consideration loss for the nine months ended September 30, 2026 was primarily due to the accretion of a Sage CVR to the full milestone payment amount with the achievement of a regulatory milestone with the approval of ZURZUVAE for the treatment of MDD in Japan and commercial launch in Japan. The contingent consideration loss for the nine months ended September 30, 2025 was due to the accretion to the full milestone payment amount with the achievement of the USWM milestones. ONAPGO was approved by the FDA in February 2025 and was launched in April 2025.

Previous wording

Other income (expense), net was an income of $0.3 million and $4.5 million for the three months ended June 30, 2026 and 2025, respectively. Other income (expense), net was an income of $2.7 million and $9.0 million for the six months ended June 30, 2026 and 2025, respectively. The decrease was due to interest expense incurred in the three and six month periods ended June 30, 2026 that did not occur in the corresponding 2025 periods, lower interest income on marketable securities, as well as lower market interest rates in 2026 compared to 2025. The cash consideration paid for the Sage acquisition in 2025 was funded through the Company's cash, cash equivalents and marketable securities holdings.

Current wording

Other income (expense), net was an income of $1.5 million and $2.3 million for the three months ended September 30, 2026 and 2025, respectively. Other income (expense), net was an income of $4.2 million and $11.2 million for the nine months ended September 30, 2026 and 2025, respectively. The decrease was due to interest expense incurred in the three and nine month periods ended September 30, 2026 that did not occur in the corresponding 2025 periods, lower interest income on marketable securities, as well as lower market interest rates in 2026 compared to 2025. The cash consideration paid for the Sage acquisition in 2025 was funded through the Company's cash, cash equivalents and marketable securities holdings.

Previous wording

Income tax expense (benefit) was a expense of $0.7 million ((1.3)% effective tax rate) and income tax benefit of $2.9 million (4.6% effective tax rate) for the three and six months ended June 30, 2026, as compared to an income tax benefit of $5.8 million ((35.0)% effective tax rate) and income tax expense of $0.2 million (1.5% effective tax rate) for the three and six months ended June 30, 2025. The change in income tax expense (benefit) and effective income tax rate was primarily due to a forecasted full year pre-tax loss for the three and six months ended June 30, 2026, as compared to forecasted full year income for the same period in 2025.

Current wording

Income tax expense (benefit) was an expense of $1.8 million (7.9% effective tax rate) and income tax benefit of $1.1 million (2.8% effective tax rate) for the three and nine months ended September 30, 2026, as compared to an income tax benefit of $12.8 million (22.2% effective tax rate) and $12.7 million (26.9% effective tax rate) for the three and nine months ended September 30, 2025. The change in both periods for income tax expense (benefit) and effective income tax rate was primarily due the change in forecasted and year-to-date earnings and the impact of discrete tax benefits as compared to the same period in 2025.

Previous wording

The Company's effective income tax rate for the three and six months ended June 30, 2026 varies from the statutory federal tax rate in the United States (U.S. federal tax rate) of 21% primarily due to the effects of non-deductible executive compensation, non-deductible payments related to contingent consideration, and state taxes. The Company's effective income tax rate for the three and six months ended June 30, 2025 vary from the statutory U.S. federal tax rate primarily due to the impact of recurring permanent differences on a forecast near break-even loss.

Current wording

The Company's effective income tax rate for the three and nine months ended September 30, 2026 varies from the statutory federal tax rate in the United States (U.S. federal tax rate) of 21% primarily due to the change in pretax book income (loss), non-deductible executive compensation, milestone payments, state taxes, other non-deductible permanent items offset by the impact of discrete benefit recorded during the period. The Company's effective income tax rate for the three months ended September 30, 2025 varies from the statutory U.S. federal tax rate primarily due to state taxes and non-deductible transaction costs, offset by tax benefits related to research and development tax credits. The Company's effective income tax rate for the nine months ended September 30, 2025 varies from the statutory U.S. federal tax rate primarily due to state taxes and non-deductible transaction costs, offset by tax benefits related to a state tax refund and research and development tax credits.

Previous wording

The Company believes its balances of cash, cash equivalents, and unrestricted marketable securities, which totaled $372.1 million as of June 30, 2026, along with cash generated from ongoing operations and continued access to debt markets, will be sufficient to satisfy its cash requirements over the next twelve months and beyond.

Current wording

The Company believes its balances of cash, cash equivalents, and unrestricted marketable securities, which totaled $359.5 million as of September 30, 2026, along with cash generated from ongoing operations and continued access to debt markets, will be sufficient to satisfy its cash requirements over the next twelve months and beyond.

Previous wording

Net cash provided by operating activities was $61.7 million compared to $89.1 million for the six months ended June 30, 2026, and 2025, respectively. The decrease in cash flows provided by operating activities was primarily due to the increase in net loss as well as changes in working capital. The Company reported net loss of $60.7 million and net earnings of $10.7 million for the six months ended June 30, 2026 and 2025, respectively. The increase in net loss was primarily due to the impairment of an intangible asset and increase in research and development and selling, general, and administrative activities.

Current wording

Net cash provided by operating activities was $68.3 million compared to $27.5 million for the nine months ended September 30, 2026, and 2025, respectively. The increase in cash flows provided by operating activities was primarily due to noncash impairment charges in the nine months ended September 30, 2026 as well as changes in working capital. The Company reported net loss of $39.8 million and net loss of $34.4 million for the nine months ended September 30, 2026 and 2025, respectively. The increase in net loss was primarily due to the impairment of an intangible asset, an increase in research and development activities, and an increase in selling, general, and administrative activities.

Previous wording

Net cash used in investing activities was $12.1 million for the six months ended June 30, 2026 compared to net cash provided by investing activities of $6.7 million during the same period in 2025. The change was primarily due to a decrease in the maturities of marketable securities partially offset by a decrease in the purchases of marketable securities.

Current wording

Net cash used in investing activities was $4.4 million for the nine months ended September 30, 2026 compared to net cash provided by investing activities of $55.4 million during the same period in 2025. The change was primarily due to a decrease in the maturities of marketable securities partially offset by a decrease in the purchases of marketable securities.

Previous wording

Net cash provided by financing activities was $1.9 million for the six months ended June 30, 2026 compared to net cash used in financing activities of $20.5 million during the same period in 2025. The change was primarily due to an increase in proceeds from the issuance of common stock and a decrease in the payment of contingent consideration amount.

Current wording

Net cash used in financing activities was $16.5 million for the nine months ended September 30, 2026 compared to net cash provided by financing activities of $0.6 million during the same period in 2025. The change was primarily due to a decrease in proceeds from the issuance of common stock and an increase in the payment of contingent consideration amount.