Summary of Acadia Pharmaceuticals (ACAD) FY Conference Call - August 13, 2025 Company Overview - Acadia Pharmaceuticals is a neurological and rare disease company with two commercial assets: NUPLAZID for Parkinson's disease psychosis and Debut for Rett syndrome [6][7] - The company anticipates over $1 billion in net sales for both assets combined this year [7] Key Products and Pipeline NUPLAZID - NUPLAZID is the first and only approved treatment for Parkinson's disease psychosis [7] - The company has seen solid growth due to effective field team execution and direct-to-consumer (DTC) marketing efforts, including a partnership with Ryan Reynolds [31][32] - A 17-fold increase in website traffic for NUPLAZID was reported, indicating successful engagement with the patient community [33] - The product is sensitive to legislative changes, particularly the Inflation Reduction Act, which may affect pricing and negotiation starting in 2029 [38][39] Debut (Trofinetide) - Debut is approved for Rett syndrome and has shown strong patient persistency rates: over 50% at 12 months and above 45% at 18 months [11][12] - Approximately 40% of patients treated with Debut are from Centers of Excellence (COEs), with a significant opportunity for growth in the remaining 60% [18][19] - The company is expanding its field team to increase penetration in underrepresented areas [19][22] - Acadia is seeking approval for Debut in the European Union, with expectations for Q1 of next year [27][29] Pipeline Assets - ACP-101 is in Phase 3 trials for Prader-Willi syndrome, with results expected in early Q4 2025 [8] - ACP-204 is being tested for Alzheimer's disease psychosis and Lewy Body dementia psychosis, with Phase 2 results anticipated mid-next year [8] - The company aims to leverage its experience from NUPLAZID to compete effectively in the Alzheimer's market, which has a large patient population [48][49] Business Development and Strategy - Acadia is actively pursuing business development opportunities to enhance its pipeline and sustain growth [9] - The company is focused on bringing in assets that are either first-in-class or best-in-class, with a preference for mid to late clinical-stage products [56][57] - The management emphasizes the importance of data-driven decision-making regarding investment in pipeline assets [52][53] Market Dynamics and Challenges - The company acknowledges the potential impact of legislative changes on its marketing strategies and pricing models [35][38] - Acadia is committed to maintaining compliance with all regulations while seeking innovative ways to engage with healthcare providers and patients [37][40] Conclusion - Acadia Pharmaceuticals is positioned for growth with its unique product offerings and a robust pipeline focused on neurological and rare diseases. The company is actively expanding its market presence while navigating potential regulatory challenges.