Acadia's Q4 Earnings Miss, Nuplazid & Daybue Drive Revenue Growth

Core Insights - Acadia Pharmaceuticals reported fourth-quarter 2024 earnings of 17 cents per share, missing the Zacks Consensus Estimate of 19 cents, and adjusted for a one-time sale of a Rare Pediatric Disease Priority Review Voucher [1] - Total revenues for the quarter were $259.6 million, exceeding the Zacks Consensus Estimate of$255 million, with significant contributions from its two marketed products, Nuplazid and Daybue [2][4] Financial Performance - Revenues from Nuplazid increased 13% year over year to $162.9 million, surpassing the Zacks Consensus Estimate of$160.4 million [5] - Daybue recorded net product sales of $96.7 million, up 11$94.4 million [6] - For the full year 2024, Acadia's total revenues reached $957.8 million, a 32$953.2 million [9] Expense Overview - Research and development (R&D) expenses rose 51% year over year to 100.7 million, primarily due to increased costs from clinical-stage programs [7] - Selling, general and administrative (SG&A) expenses increased 17% year over year to 130.1 million, attributed to higher marketing costs for Nuplazid and Daybue [8] Future Outlook - Acadia expects total revenues from U.S. sales of its products in 2025 to range between $1.030 billion and$1.095 billion, with Nuplazid sales projected between $650 million and$690 million, and Daybue sales expected between $380 million and$405 million [10][12] - R&D expenses for 2025 are projected to be between $310 million and$330 million, while SG&A expenses are expected to be between $535 million and$565 million [12] Product Development Updates - A regulatory filing for Daybue to treat Rett syndrome in the EU is under review, with approval expected in Q1 2026 [13] - Acadia plans to enroll the last patient in the phase III COMPASS PWS study for ACP-101 in Q4 2025, with top-line data expected in H1 2026 [14] - The company anticipates initiating a mid-stage study for ACP-204 for Lewy Body dementia psychosis in Q3 2025 [15] - Acadia signed a worldwide license agreement with Saniona to develop ACP711 for essential tremor, with a mid-stage study planned for 2026 [16][17]