ACADIA Pharmaceuticals(US:ACAD)2025-11-05 23:47Financial Performance - Net product sales from NUPLAZID and DAYBUE totaled $787.5 million for the nine months ended September 30, 2025, a 12.8% increase from $698.2 million for the same period in 2024[83]. - Net product sales for the three months ended September 30, 2025, were $278.6 million, an increase from $250.4 million in the same period of 2024, representing an 11.3% growth[102]. - Net product sales of NUPLAZID increased to $177.5 million for the three months ended September 30, 2025, up from $159.2 million in 2024, reflecting an increase of 11.5%[103]. - Net product sales of DAYBUE rose to $101.1 million for the three months ended September 30, 2025, compared to $91.2 million in 2024, marking an increase of 10.9%[103]. - For the nine months ended September 30, 2025, net product sales were $787.5 million, up from $698.2 million in 2024, representing a growth of 12.8%[108]. Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $244.0 million, compared to $202.5 million for the same period in 2024, reflecting a 20.5% increase[95]. - Total research and development expenses for the three months ended September 30, 2025, were $87.8 million, up from $66.6 million in the same period in 2024, marking a 31.7% increase[95]. - Research and development expenses increased to $87.8 million for the three months ended September 30, 2025, up from $66.6 million in 2024, a rise of 31.8%[106]. - The Phase 3 study of ACP-101 for Prader-Willi syndrome did not show statistically significant improvement, leading to the decision to discontinue further investigation[85]. - A Phase 2 study for ACP-204 targeting Alzheimer's disease psychosis was initiated in November 2023, with an additional study for Lewy Body Dementia planned[86]. - The company expects continued substantial research and development expenses as it advances its product candidates and fulfills post-marketing requirements[96]. Expenses - Selling, general and administrative expenses increased to $393.3 million for the nine months ended September 30, 2025, compared to $358.3 million in 2024, a rise of 9.8%[115]. - Selling, general and administrative expenses remained relatively flat at $133.4 million for the three months ended September 30, 2025, compared to $133.3 million in 2024[107]. - Selling, general and administrative expenses are influenced by market dynamics in the PDP and Rett syndrome markets[97]. Cash and Investments - Cash, cash equivalents, and investment securities totaled $847.0 million at September 30, 2025, an increase of $91.0 million from $756.0 million at December 31, 2024[125]. - Net cash provided by operating activities totaled $158.6 million for the nine months ended September 30, 2025, compared to $117.3 million for the same period in 2024, reflecting a 35.3% increase[125]. - Net cash provided by financing activities increased to $27.2 million for the nine months ended September 30, 2025, compared to $4.9 million for the same period in 2024, primarily due to an increase in proceeds from the exercise of employee stock options and awards[127]. - The company has not engaged in any off-balance sheet arrangements, thus avoiding material exposure to financing, liquidity, market, or credit risk[128]. - The company invests excess cash in investment-grade, interest-bearing securities, with a primary objective to preserve principal and liquidity[130]. - All investment securities have a credit rating of at least Aa3/AA- or P-1/A-1, ensuring high-quality investments[130]. - A hypothetical 10 percent change in interest rates as of September 30, 2025, would not have materially affected the fair value of the investment portfolio[130]. - The company does not expect anticipated changes in interest rates to have a material effect on its interest rate risk in future reporting periods[130]. Taxation - The company anticipates significant cash tax savings in 2025 due to changes in tax legislation affecting research cost expensing[99]. Overall Financial Position - The accumulated deficit as of September 30, 2025, was $2.1 billion, indicating substantial operating losses since inception[88].