ACADIA Pharmaceuticals(ACAD) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenues for Q3 2025 were $278.6 million, an 11% increase year-over-year[1] - NUPLAZID® net product sales reached $177.5 million, up 12% from $159.2 million in Q3 2024, driven by 9% volume growth[4] - DAYBUE® net product sales were $101.1 million, an 11% increase compared to $91.2 million in Q3 2024, attributed to growth in unit sales[6] - Net income for Q3 2025 was $71.8 million, or $0.42 per diluted share, compared to $32.8 million, or $0.20 per share, in Q3 2024[9] Revenue Guidance - The company raised its 2025 total revenue guidance to a range of $1.070 to $1.095 billion, up from the previous range of $1.045 to $1.095 billion[12] - NUPLAZID net product sales guidance for 2025 is now $685 to $695 million, increased from $665 to $690 million[12] - DAYBUE net product sales guidance for 2025 is updated to $385 to $400 million, compared to the prior range of $380 to $405 million[12] Research and Development - The company initiated a Phase 2 study of ACP-204 for Lewy Body Dementia Psychosis and a Phase 3 trial of trofinetide for Rett syndrome in Japan[5] - Research and development expenses for Q3 2025 were $87.8 million, up from $66.6 million in Q3 2024, primarily due to increased clinical trial costs[7] Assets and Liabilities - Total assets increased to $1,330,771 million as of September 30, 2025, up from $1,187,756 million on December 31, 2024, representing a growth of approximately 12.0%[22] - Total current assets reached $1,076,422 million, up from $938,318 million, indicating an increase of around 14.8%[22] - Total liabilities decreased to $413,499 million from $454,963 million, showing a reduction of approximately 9.1%[22] - Total stockholders' equity increased to $917,272 million, compared to $732,793 million, representing a growth of about 25.2%[22] Cash and Investments - Cash, cash equivalents, and investment securities totaled $847.0 million as of September 30, 2025, up from $756.0 million at the end of 2024[10] - Cash, cash equivalents, and investment securities rose to $847,019 million, compared to $755,993 million, reflecting an increase of about 12.0%[22] Inventory and Receivables - Accounts receivable, net increased to $115,850 million from $98,739 million, marking a growth of approximately 17.3%[22] - Inventory levels rose to $29,097 million from $21,949 million, reflecting an increase of approximately 32.5%[22] - Long-term inventory increased to $76,888 million from $69,741 million, reflecting a growth of about 10.3%[22] Other Financial Metrics - Accrued liabilities decreased to $334,837 million from $378,678 million, indicating a decline of about 11.6%[22] - Operating lease right-of-use assets increased to $49,673 million from $46,571 million, showing a growth of approximately 4.5%[22]