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

Acadia Pharmaceuticals ACAD reported fourth-quarter 2024 earnings of 17 cents per share, missing the Zacks Consensus Estimate of 19 cents. The reported figure has been adjusted for the net proceeds from the one-time sale of its Rare Pediatric Disease Priority Review Voucher. In the year-ago quarter, the company had reported earnings of 28 cents per share. See the Zacks Earnings Calendar to stay ahead of market-making news. Acadia recorded total revenues of $259.6 million, which beat the Zacks Consensus Estimate of $255 million. ACAD’s net product revenues comprise revenues generated from the sale of its two marketed products, Nuplazid (pimavanserin) and Daybue (trofinetide).Acadia’s first drug, Nuplazid, is approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. ACAD’s second product, Daybue, received approval in 2023 for treating Rett syndrome in adult and pediatric patients aged two years and older. Daybue is the first and only drug to be approved by the FDA for the given indication. The drug was launched in the United States in April 2023.Total revenues jumped 12% year over year, driven by the contribution from Daybue and the continued growth in Nuplazid's market share.ACAD’s Q4 Results in DetailRevenues from Nuplazid increased 13% year over year to $162.9 million, driven primarily by volume growth. Nuplazid sales beat the Zacks Consensus Estimate of $160.4 million as well as our model estimate of $159.7 million.Daybue recorded net product sales of $96.7 million in the reported quarter, up 11% year over year and 6% sequentially, driven by the growth in the drug’s unit sales. The reported figure beat the Zacks Consensus Estimate of $94.4 million as well as our model estimate of $94.7 million.In the past three months, shares of Acadia have gained 16.6% against the industry’s decline of 1.2%.Image Source: Zacks Investment ResearchResearch and development (R&D) expenses were $100.7 million, up 51% year over year. The rise in R&D cost was mainly due to increased costs from clinical-stage programs in the reported quarter.Selling, general and administrative (SG&A) expenses were $130.1 million, up 17% year over year. The increase in such expenses can be primarily attributed to increased marketing costs to support the Nuplazid and Daybue franchises in the United States as well as investments to commercialize Daybue outside the United States.Acadia had cash, cash equivalents and investments worth $756 million as of Dec. 31, 2024, compared with $565.3 million as of Sept. 30, 2024.ACAD’s Full-Year ResultsIn 2024, Acadia recorded total revenues of $957.8 million, up 32% year over year, which surpassed the Zacks Consensus Estimate of $953.2 million.The company recorded adjusted earnings of 48 cents in 2024, which missed the Zacks Consensus Estimate of 70 cents. In 2023, ACAD recorded a loss per share of 37 cents.ACAD’s 2025 Financial OutlookAcadia expects total revenues from the U.S. sales of its products to be in the range of $1.030-$1.095 billion. Nuplazid net product sales are expected to be in the range of $650-$690 million, while U.S. sales of Daybue are expected to be between $380 million and $405 million.R&D expenses in 2025 are projected to be in the range of $310-$330 million, while SG&A expenses are expected to be between $535 million and $565 million.ACAD’s Key UpdatesA regulatory filing for trofinetide to treat Rett syndrome in adults and pediatric patients aged two years and above is currently under review in the EU. An approval in the EU is expected in the first quarter of 2026.Last month, the company shared updated timelines for its two most advanced clinical development programs. ACAD expects to enroll the last patient in the phase III COMPASS PWS study of ACP-101 for Prader-Willi Syndrome in the fourth quarter of 2025. Top-line data is expected in the first half of 2026.Additionally, Acadia anticipates enrolling the last patient in the phase II RADIANT study of ACP-204 for Alzheimer’s disease psychosis in the first quarter of 2026. Top-line data is expected in mid-2026. Furthermore, the company is also gearing up to initiate a separate mid-stage study ACP-204 for a second indication (Lewy Body dementia psychosis) in the third quarter of 2025.During the reported quarter, Acadia signed an exclusive worldwide license agreement with Saniona, a Denmark-based clinical-stage biopharmaceutical company, to develop and commercialize ACP711, a first-in-class, highly selective GABAA-α3 positive allosteric modulator. As its first indication, Acadia plans to study ACP711 for essential tremor, a neurological condition that includes shaking or trembling movements in one or more parts of the body. The company is gearing up to initiate a mid-stage study of the candidate for the essential tremor indication in 2026.ACADIA Pharmaceuticals Inc. Price, Consensus and EPS Surprise ACADIA Pharmaceuticals Inc. price-consensus-eps-surprise-chart | ACADIA Pharmaceuticals Inc. QuoteACAD's Zacks Rank & Stocks to ConsiderAcadia currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the sector are Gilead Sciences GILD, BioMarin Pharmaceutical BMRN and Amicus Therapeutics FOLD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.In the past 30 days, Gilead Sciences’ earnings estimates for 2025 have improved from $7.56 to $7.81 per share. During the same timeframe, the earnings per share for 2026 have improved from $7.82 to $8.14. In the past three months, shares of Gilead Sciences have gained 19.5%.GILD’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.47%.In the past 30 days, estimates for BioMarin Pharmaceutical’s 2025 earnings per share have increased from $4.01 to $4.19. Estimates for 2026 earnings per share have decreased from $5.21 to $5.20 during the same timeframe. In the past three months, BioMarin Pharmaceutical shares have gained 5.2%.BMRN’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.36%.In the past 30 days, the estimate for Amicus Therapeutics’ 2025 earnings per share has remained constant at 43 cents. The estimate for 2026 earnings per share has deteriorated from 72 cents to 71 cents. In the past three months, shares of Amicus Therapeutics have lost 9.4%.FOLD’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 45.42%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report Gilead Sciences, Inc. (GILD): Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD): Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks