Thursday, June 20, 2024 | Baltimore, MD
FOLLOW US:

Maryland biopharma Supernus Pharmaceuticals secures $150M loan to bolster its balance sheet

February 20, 2023

Rockville’s Supernus Pharmaceuticals Inc. (NASDAQ: SUPN), which develops treatments for central nervous system diseases, has secured a nine-figure loan as the company pushes multiple product candidates through clinical trials and comes up against some regulatory hurdles. The credit line with UBS Bank USA gives the clinical-stage biotech access to up to $150 million that “can be drawn at any time,” it said in filings with the Securities and Exchange Commission. The company said it plans to use the financing for general corporate purposes. “We are pleased to further enhance the strength and flexibility of our balance sheet with this line of credit,” Supernus President and CEO Jack Khattar said in a statement.

Article Source: Baltimore Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.