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Acadia Pharmaceuticals ACAD reported first-quarter 2025 earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 10 cents. In the year-ago quarter, the company had reported earnings of 10 cents per share.
Acadia recorded total revenues of $244.3 million, which surpassed the Zacks Consensus Estimate of $241 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 19% year over year, driven by the contribution from Daybue and the continued growth in Nuplazid's market share. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
Revenues from Nuplazid increased 23% year over year to $159.7 million, driven primarily by volume growth. Nuplazid sales beat the Zacks Consensus Estimate of $153.8 million as well as our model estimate of $141.5 million.
Daybue recorded net product sales of $84.6 million in the reported quarter, up 11% year over year, driven by the growth in the drug’s unit sales as Acadia shipped to more unique patients. Per the company, ACAD reached a record high in first-quarter 2025, with 954 unique patients receiving a Daybue shipment. The reported figure, however, missed the Zacks Consensus Estimate of $89.6 million as well as our model estimate of $96.8 million.
Year to date, shares of Acadia have plunged 19.3% compared with the industry’s decline of 8%.
Research and development (R&D) expenses were $78.3 million, up 31% 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 $126.4 million, up 17% year over year. The increase in such expenses can be primarily attributed to increased marketing costs to support the Nuplazid franchise in the United States and investments for the planned expansion of the Daybue team.
Acadia had cash, cash equivalents and investments worth $681.6 million as of March 31, 2025, compared with $756 million as of Dec. 31, 2024.
Acadia continues to expect 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 now projected to be in the band of $330-$350 million, up from the previously guided range of $310-$330 million, while SG&A expenses are expected to be between $535 million and $565 million.
A 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.
ACAD reported that it is witnessing favorable enrollment trends in the phase III COMPASS PWS study of ACP-101 for Prader-Willi Syndrome (PWS). As a result, the company now expects top-line results from the COMPASS PWS study early in the fourth quarter of 2025. Subject to positive results, Acadia plans to submit a regulatory application to the FDA, seeking the approval of ACP-101 for PWS in the first quarter of 2026.
Additionally, Acadia anticipates completing enrollment 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 of ACP-204 for a second indication (Lewy Body dementia psychosis) in the third quarter of 2025.
During the reported quarter, Acadia and its partner, Saniona, completed the two planned cohorts in the phase I multiple-ascending-dose study of ACP-711 in healthy volunteers. The drug demonstrated a strong safety and tolerability profile, with no serious adverse events reported and all participants completing the study. Most adverse events were mild, and no significant concerns related to safety labs, cardiovascular health, or neurological function were observed.
With these positive results, the companies are now focusing on essential tremor as the lead indication for ACP-711. They plan to seek regulatory approval to expand the study to elderly healthy volunteers and test higher repeated doses. Thus, the study has been temporarily paused until approval is granted for this next phase.
ACADIA Pharmaceuticals Inc. price-consensus-eps-surprise-chart | ACADIA Pharmaceuticals Inc. Quote
Acadia currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Bayer BAYRY, ADMA Biologics Inc. ADMA and Beam Therapeutics Inc. BEAM, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Bayer’s earnings per share have increased from $1.17 to $1.23 for 2025. During the same time, earnings per share have increased from $1.27 to $1.31 for 2026. Year to date, shares of Bayer have gained 36.3%.
BAYRY’s earnings matched estimates in two of the trailing three quarters while missing the same on the remaining occasion, the average negative surprise being 19.61%.
In the past 60 days, estimates for ADMA Biologics’ earnings per share have increased from 70 cents to 71 cents for 2025. During the same time, earnings per share estimates for 2026 have remained constant at 93 cents. Year to date, shares of ADMA have rallied 37.7%.
ADMA’s earnings beat estimates in two of the trailing four quarters while missing the same on the other two occasions, the average surprise being 14.68%.
In the past 60 days, estimates for Beam Therapeutics' loss per share have narrowed from $4.45 to $4.30 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $4.94 to $4.65. Year to date, shares of BEAM have lost 34.6%.
BEAM’s earnings beat estimates in two of the trailing four quarters while missing the same on the other two occasions, delivering an average negative surprise of 3.14%.
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This article originally published on Zacks Investment Research (zacks.com).
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