Core Insights - Acadia Pharmaceuticals reported fourth-quarter 2025 earnings per share (EPS) of 16 cents, exceeding the Zacks Consensus Estimate of 12 cents, but down from 17 cents in the same quarter last year [1] - Total revenues for the fourth quarter were $284 million, missing the Zacks Consensus Estimate of $293 million, despite a year-over-year increase of 9% [2][3] Financial Performance - Nuplazid sales rose 7% year over year to $174.4 million, while Daybue recorded net product sales of $109.6 million, up 13% year over year [5][8] - Acadia's total revenues for 2025 reached $1.07 billion, representing a 12% year-over-year growth, but fell short of the Zacks Consensus Estimate of $1.08 billion [11] - The company expects total revenues for 2026 to be between $1.22 billion and $1.28 billion, with Nuplazid sales projected at $760 million to $790 million and Daybue sales expected to be between $460 million and $490 million [12] Expense Management - Research and development (R&D) expenses decreased by 16% year over year to $84.8 million, while selling, general and administrative (SG&A) expenses increased by 20% year over year to $155.6 million due to higher marketing investments [8][9] Product Pipeline and Regulatory Updates - Acadia's Daybue received FDA approval for a new formulation, Daybue Stix, which is set for a limited launch in Q1 2026 [15] - The company anticipates a negative opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) regarding the marketing application for trofinetide to treat Rett syndrome, which may delay potential approval in the EU [13][14] Market Performance - Over the past six months, Acadia's shares have declined by 6%, contrasting with a 23% growth in the industry [4]