Q1 2025 ACADIA Pharmaceuticals Inc Earnings Call Transcript
Key Points
- ACADIA Pharmaceuticals Inc (ACAD) reported a strong first quarter with total revenues of $244.3 million, up 19% year-over-year.
- DAYBUE sales reached $84.6 million, marking an 11% increase from the previous year, with a record number of 954 unique patients receiving shipments.
- NUPLAZID achieved $159.7 million in revenue for the quarter, representing a 23% increase year-over-year, driven by a 6% growth in volume.
- The company is on track to complete enrollment for the COMPASS PWS Phase 3 study in Prader-Willi Syndrome, with top-line results expected by the end of 2025.
- ACADIA Pharmaceuticals Inc (ACAD) has expanded its field force for DAYBUE and initiated managed access programs in Europe, laying the groundwork for a strong international launch.
- DAYBUE sales were down sequentially due to factors like seasonality and Medicare Part D redesign impacting net price.
- R&D expenses increased to $78.3 million, up from $59.7 million in the first quarter of 2024, due to higher spending on clinical-stage programs.
- SG&A expenses rose to $126.4 million, driven by NUPLAZID consumer activation campaigns and commercial operation expenses.
- The company is winding down efforts for certain discovery programs in collaboration with Stoke Therapeutics, indicating challenges in those areas.
- Persistency for DAYBUE remains around 50% after 12 months, suggesting room for improvement in long-term patient retention.
Good day ladies, and gentlemen and welcome to the ACADIA Pharmaceuticals conference call. My name is Lauren Cannon, and I'll be your coordinator for today. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the presentation over to Al Kildani, Senior Vice President of Investor Relations and Corporate Communications at ACADIA. Please proceed.
Good afternoon, and thank you for joining us on today's call to discuss ACADIA's first-quarter 2025 financial results. Joining me on the call today from ACADIA are Catherine Owen Adams, our Chief Executive Officer, who will provide some opening remarks; followed by Tom Garner, our Chief Commercial Officer, who will discuss our strong commercial brand's DAYBUE in NUPLAZID.
Also joining us today is Elizabeth Thompson, PhD, Executive Vice President, Head of Research and Development, who will provide an update on our pipeline programs
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