Acadia Q1 Earnings Beat, Nuplazid & Daybue Sales Drive Revenue Growth

Core Viewpoint - Acadia Pharmaceuticals reported strong first-quarter 2025 earnings, exceeding expectations with total revenues driven by its marketed products, Nuplazid and Daybue [1][3][4] Financial Performance - Acadia's Q1 2025 earnings were 11 cents per share, beating the Zacks Consensus Estimate of 10 cents, and up from 10 cents in the same quarter last year [1] - Total revenues reached $244.3 million, surpassing the Zacks Consensus Estimate of$241 million, marking a 19% year-over-year increase [1][3] - Nuplazid revenues increased by 23% year over year to $159.7 million, exceeding the Zacks Consensus Estimate of$153.8 million [3] - Daybue generated net product sales of $84.6 million, an 11$89.6 million [4] Expenses - Research and development (R&D) expenses rose to $78.3 million, a 31$126.4 million, up 17% year over year, attributed to increased marketing costs for Nuplazid and expansion efforts for Daybue [6] Cash Position - As of March 31, 2025, Acadia had cash, cash equivalents, and investments totaling $681.6 million, down from$756 million as of December 31, 2024 [7] Financial Outlook - Acadia expects total revenues from U.S. sales of its products to be between $1.030 billion and$1.095 billion for 2025, with Nuplazid sales projected at $650 million to$690 million and Daybue sales between $380 million and$405 million [8] - R&D expenses for 2025 are now projected to be between $330 million and$350 million, up from the previous range of $310 million to$330 million, while SG&A expenses are expected to be between $535 million and$565 million [9] Product Updates - Nuplazid is approved for treating hallucinations and delusions associated with Parkinson's disease psychosis, while Daybue is the first FDA-approved treatment for Rett syndrome, launched in April 2023 [2] - A regulatory filing for Daybue in the EU is under review, with approval expected in Q1 2026 [12] - Acadia is seeing favorable enrollment trends in the phase III COMPASS PWS study for ACP-101, with top-line results expected in early Q4 2025 [13] - The company plans to complete enrollment in the phase II RADIANT study of ACP-204 for Alzheimer's disease psychosis by Q1 2026, with top-line data anticipated in mid-2026 [14] - Acadia and Saniona completed cohorts in the phase I study of ACP-711, which showed a strong safety profile, and are focusing on essential tremor as the lead indication [15][16]