Q2 2026 ACADIA Pharmaceuticals Inc Earnings Call Transcript
Key Points
- ACADIA Pharmaceuticals Inc (ACAD) delivered strong Q2 2026 results with total revenues of $308 million, a 17% year-over-year increase on an adjusted basis.
- Debut (trofinetide) net sales grew 30% year-over-year to $125 million, driven by strong uptake of the new Debut Stix formulation, leading to raised 2026 guidance to $480-$510 million.
- Nuplazid (pimavanserin) net sales grew 10% year-over-year to $183 million, with new patient prescriptions up 20% year-over-year, the highest quarterly volume since Q1 2018.
- Received a positive CHMP opinion for trofinetide in the EU, paving the way for European launch in Germany in Q4 2026, expanding the commercial opportunity.
- The pipeline is advancing, with the Phase 2 readout for remlifanserin in Alzheimer's disease psychosis expected in September-October 2026, and the program has received FDA Fast-Track designation.
- The company maintains a strong cash position of $956 million, providing financial flexibility for commercial and pipeline investments.
- Nuplazid's growth is modest at 10% year-over-year, and the company kept its 2026 guidance unchanged at $760-$790 million, indicating a slower ramp.
- SG&A expenses increased significantly to $160 million (up from $134 million a year ago) due to expanded field forces and marketing, pressuring near-term profitability.
- The company lowered its R&D guidance for 2026 due to a shifted BD milestone and portfolio prioritization, which may delay some pipeline progress.
- The upcoming Phase 2 readout for remlifanserin carries significant risk; the company is powering for a 0.4 effect size, and failure could derail the $4 billion peak sales potential.
- European launch of trofinetide will face pricing and reimbursement negotiations, with initial sales expected to be gradual and subject to discounts, potentially limiting near-term contribution.
- The company faces potential competition from gene therapies for Rett syndrome, though it downplays the impact, and from other ADP programs like Bristol's, which may affect market dynamics.
Ladies and gentlemen, thank you for standing by. My name is Abby, and I will be your conference operator today.
At this time, I would like to welcome everyone to Acadia Pharmaceuticals second quarter 2026 earnings conference call.
All lines have been placed on mute to prevent any background noise.
After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during that time, simply press star followed by the number 1 on your telephone keypad.
If you would like to withdraw your question, press *1 again.
Thank you. And I would now like to turn the conference over to Albert Kildani, Senior Vice President, Investor Relations and Corporate Development. Please go ahead.
Good afternoon, and thank you for joining us on today's call to discuss Acadia's second quarter 2026 financial results. Joining me on the call today from Acadia are Katherine Owen-Adams, our Chief
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