In This Article:
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Total Revenue: $244.3 million, up 19% year over year.
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DAYBUE Sales: $84.6 million, up 11% year over year.
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NUPLAZID Sales: $159.7 million, up 23% year over year, with 6% growth from volume.
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R&D Expenses: $78.3 million, up from $59.7 million in Q1 2024.
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SG&A Expenses: $126.4 million, up from $108 million in Q1 2024.
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Cash Balance: $681.6 million as of March 31.
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Unique Patients for DAYBUE: 954, an all-time record for the brand.
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Gross-to-Net Adjustment for DAYBUE: 24.9%.
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Gross-to-Net Adjustment for NUPLAZID: 24.1%.
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2025 R&D Expense Guidance: Increased to $330 million to $350 million.
Release Date: May 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) reported a strong first quarter with total revenues of $244.3 million, up 19% year-over-year.
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DAYBUE sales reached $84.6 million, marking an 11% increase from the previous year, with a record number of 954 unique patients receiving shipments.
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NUPLAZID achieved $159.7 million in revenue for the quarter, representing a 23% increase year-over-year, driven by a 6% growth in volume.
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The company is on track to complete enrollment for the COMPASS PWS Phase 3 study in Prader-Willi Syndrome, with top-line results expected by the end of 2025.
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ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has expanded its field force for DAYBUE and initiated managed access programs in Europe, laying the groundwork for a strong international launch.
Negative Points
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DAYBUE sales were down sequentially due to factors like seasonality and Medicare Part D redesign impacting net price.
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R&D expenses increased to $78.3 million, up from $59.7 million in the first quarter of 2024, due to higher spending on clinical-stage programs.
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SG&A expenses rose to $126.4 million, driven by NUPLAZID consumer activation campaigns and commercial operation expenses.
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The company is winding down efforts for certain discovery programs in collaboration with Stoke Therapeutics, indicating challenges in those areas.
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Persistency for DAYBUE remains around 50% after 12 months, suggesting room for improvement in long-term patient retention.
Q & A Highlights
Q: What does good data for ACP-101 look like, and how does it relate to discussions with the FDA? Also, how should we model European pricing for DAYBUE considering potential pricing risks? A: Elizabeth Thompson, EVP, Head of R&D, stated that a statistically significant result in the ACP-101 trial would demonstrate a clinically meaningful impact on hyperphagia, a key symptom of Prader-Willi Syndrome. Catherine Owen Adams, CEO, mentioned that while modeling European pricing for DAYBUE, they are confident in obtaining a strong EU price that reflects the value provided to patients, despite potential pricing risks.