Acadia's Q3 Earnings Beat, Nuplazid & Daybue Drive Revenue Growth

Core Viewpoint - Acadia Pharmaceuticals reported a strong third-quarter performance for 2024, with earnings per share of 20 cents, surpassing estimates and showing significant revenue growth driven by its products Nuplazid and Daybue [1][3][4]. Financial Performance - Acadia's total revenues reached $250 million, exceeding the Zacks Consensus Estimate of$249 million, marking an 18% year-over-year increase [1][3]. - Revenues from Nuplazid increased by 10% year over year to $159.2 million, driven by a 7$155.6 million [4]. - Daybue generated net product sales of $91.2 million in the quarter, reflecting a 36$93.8 million [4]. Expenses and Guidance - Research and development (R&D) expenses decreased by 58% year over year to 66.6 million, primarily due to reduced business development payments [5]. - Selling, general and administrative (SG&A) expenses rose by 36% year over year to 133.3 million, attributed to increased marketing costs for Daybue and consumer activation programs for Nuplazid [6]. - Acadia updated its 2024 financial guidance, projecting total revenue between $940 million and$960 million, with Daybue sales expected to be between $340 million and$350 million [8][9]. Cash Position and Strategic Moves - As of September 30, 2024, Acadia had cash, cash equivalents, and investments totaling $565.3 million, an increase from$500.9 million as of June 30, 2024 [7]. - The company announced a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher for $150 million, which will support its commercial operations and R&D programs [11][12].