Acadia Pharmaceuticals Inc Stock Price, News & Analysis

Acadia Pharmaceuticals (NASDAQ: ACAD) has appointed Thomas Andrew Garner as Chief Commercial Officer, effective immediately. Garner brings over 25 years of pharmaceutical industry experience and will lead Acadia's commercial strategy and operations, focusing on growth and portfolio expansion across U.S. and international markets.

Garner joins from Lexicon Pharmaceuticals, where he served as SVP and CCO. Previously, he spent 21 years at Bristol Myers Squibb in various senior roles, including leading their U.S. Cardiovascular unit with revenues exceeding $10 billion. The company also announced Holly Valdiviez's promotion to SVP, Neuropsychiatric Franchise, overseeing NUPLAZID sales and marketing.

Acadia Pharmaceuticals (NASDAQ: ACAD) has secured an exclusive worldwide license agreement with Saniona for SAN711, a first-in-class GABAA-α3 positive allosteric modulator. The company plans to develop SAN711 for essential tremor treatment, with Phase 2 studies expected to begin in 2026. Under the agreement, Saniona will receive a $28 million upfront payment plus potential milestone payments up to $582 million and tiered royalties ranging from mid-single digits to low double digits on net sales. The milestone payments include up to $147 million for development achievements and up to $435 million tied to annual sales thresholds.

Acadia Pharmaceuticals (Nasdaq: ACAD) has announced its participation in two major investor conferences in December 2024. The company will present at Citi's 2024 Global Healthcare Conference in Miami on December 3 at 10:15 a.m. ET, and the 7th Annual Evercore HealthCONx Conference in Coral Gables on December 4 at 2:35 p.m. ET. Both fireside chats will be available via webcast on Acadia.com.

Acadia specializes in neuroscience breakthroughs and has developed FDA-approved treatments for Parkinson's disease psychosis and Rett syndrome. Their current clinical-stage research focuses on Prader-Willi syndrome, Alzheimer's disease psychosis, and other neuropsychiatric symptoms in CNS disorders.

Acadia Pharmaceuticals (Nasdaq: ACAD) announced that its Compensation Committee granted inducement awards to 23 new employees on November 8, 2024. The awards include 70,571 non-qualified stock options at $17.66 per share and 40,731 restricted stock units (RSUs). The stock options will vest over four years, with 25% vesting after one year and the remainder monthly over 36 months. The RSUs will vest over four years, with 50% vesting after two years and the remaining in two annual installments, all subject to continued employment.

Acadia Pharmaceuticals announced its third quarter 2024 financial results, reporting total revenues of $250.4 million, an 18% increase year-over-year. NUPLAZID net product sales were $159.2 million, up 10% year-over-year, while DAYBUE net product sales reached $91.2 million, a 36% increase. CEO Catherine Owen Adams highlighted the company's path to achieving over $1 billion in annualized sales by 2025. Research and development expenses decreased to $66.6 million, primarily due to reduced business development payments. Selling, general, and administrative expenses rose to $133.3 million, driven by marketing costs. The company reported a net income of $32.8 million, or $0.20 per share, compared to a net loss of $65.2 million in the same period last year. Acadia's cash and investments totaled $565.3 million. The company updated its 2024 guidance, expecting total revenues between $940 to $960 million, NUPLAZID sales of $600 to $610 million, and DAYBUE sales of $340 to $350 million.

Acadia Pharmaceuticals (Nasdaq: ACAD) has agreed to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million. The PRV was granted in March 2023 following FDA approval of DAYBUE™ for Rett syndrome treatment. Under a previous license agreement with Neuren Pharmaceuticals, Acadia must pay one-third of the net proceeds to Neuren. The company plans to use the proceeds to support commercial operations, R&D programs in central nervous system and rare disease, and future business development. The transaction is subject to customary closing conditions, including HSR Antitrust Act requirements.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) has announced that it will release its third quarter financial results on Wednesday, November 6, 2024, after the U.S. financial markets close. The company's management team will host a conference call and webcast at 4:30 p.m. Eastern Time on the same day to discuss the results and operations.

Investors can access the conference call through Acadia's website or by registering for the call to receive dial-in details. The call recording will be archived on the company's website until December 6, 2024.

Acadia is known for developing the first FDA-approved drug for hallucinations and delusions associated with Parkinson's disease psychosis, as well as the first approved drug in the U.S. and Canada for Rett syndrome treatment. The company's clinical-stage efforts focus on Prader-Willi syndrome, Alzheimer's disease psychosis, and other neuropsychiatric symptoms in CNS disorders.

Acadia Pharmaceuticals announced that Health Canada has approved DAYBUE™ (trofinetide) for the treatment of Rett syndrome in patients two years and older. This marks the first and only therapy approved in Canada for this rare neurodevelopmental disorder, which affects an estimated 600 to 900 patients in the country.

The approval was based on positive results from the Phase 3 LAVENDER™ study, which showed statistically significant improvements in the co-primary endpoints: the Rett Syndrome Behaviour Questionnaire (RSBQ) total score and the Clinical Global Impression-Improvement (CGI-I) scale score at week 12.

Rett syndrome primarily affects females and is characterized by regression following normal development in the first two years of life. Symptoms include loss of communication skills, purposeful hand use, and gait abnormalities. The approval of DAYBUE represents a significant milestone for patients and their families, offering a specific therapy for a condition that previously only had symptomatic management options.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) has announced inducement grants to thirteen new employees under its 2024 Inducement Plan. The Compensation Committee approved non-qualified stock options to purchase 111,631 shares of common stock and 30,484 restricted stock units (RSUs). The stock options have an exercise price of $14.72 per share, based on Acadia's closing price on October 3, 2024. Both stock options and RSUs will vest over four years, subject to continued employment. This grant aligns with Nasdaq Listing Rule 5635(c)(4).

Acadia Pharmaceuticals is known for developing the first FDA-approved drug for hallucinations and delusions in Parkinson's disease psychosis and for Rett syndrome treatment. The company is currently focusing on clinical-stage development for Prader-Willi syndrome, Alzheimer's disease psychosis, and other neuropsychiatric symptoms in CNS disorders.