Acadia Pharmaceuticals Inc Stock Price, News & Analysis

Acadia Pharmaceuticals (Nasdaq: ACAD) has announced that Catherine Owen Adams has succeeded Steve Davis as Chief Executive Officer and joined the company's Board of Directors. Ms. Owen Adams brings over 25 years of pharmaceutical industry experience, including senior commercial leadership roles at Bristol Myers Squibb and Johnson & Johnson.

Ms. Owen Adams most recently served as Senior Vice President and General Manager, U.S., at Bristol Myers Squibb, where she led a $20 billion commercial business. Her extensive experience includes overseeing major product launches and leading large teams across multiple countries. The Board of Directors expressed confidence in her ability to guide Acadia through its next phase of growth, capitalizing on the company's strengths in treating central nervous system disorders and rare diseases.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) has announced its participation in two upcoming investor conferences in New York, NY:

• Morgan Stanley 22nd Annual Global Healthcare Conference on September 4, 2024, at 4:50 p.m. Eastern Time
• Baird 2024 Global Healthcare Conference on September 11, 2024, at 9:40 a.m. Eastern Time

Both events will feature fireside chats, which will be livestreamed on Acadia's website and archived for approximately one month. Acadia, a neuroscience-focused company, has developed FDA-approved treatments for Parkinson's disease psychosis and Rett syndrome. Their ongoing clinical research targets Prader-Willi syndrome, Alzheimer's disease psychosis, and other neuropsychiatric symptoms in CNS disorders.

Ryan Reynolds and Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) have launched the 'More to Parkinson's®' campaign to raise awareness about Parkinson's-related hallucinations and delusions. These non-motor symptoms affect around 50% of Parkinson's patients, but up to 90% don't report them to their doctors. Reynolds and his mother Tammy share their experiences caring for Ryan's late father, who had Parkinson's disease, to educate others about these under-recognized symptoms.

The campaign aims to encourage open discussions between patients, caregivers, and healthcare providers about managing these symptoms. It includes videos and resources on MoretoParkinsons.com, covering topics such as risk factors, symptom identification, and treatment options. The initiative seeks to address the significant gap in awareness and understanding of these non-motor symptoms, which can be more distressing than motor symptoms associated with Parkinson's disease.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) has announced its participation in a fireside chat at the Canaccord Genuity 44th Annual Growth Conference on August 14, 2024 at 10:00 a.m. Eastern Time. The event will be webcast live on Acadia's website and archived for approximately one month.

Acadia is a neuroscience company with a 30-year history of developing breakthrough treatments. They have FDA-approved drugs for Parkinson's disease psychosis and Rett syndrome. Their current clinical-stage efforts focus on Prader-Willi syndrome, Alzheimer's disease psychosis, and other neuropsychiatric symptoms in CNS disorders.

Acadia Pharmaceuticals (NASDAQ: ACAD) reported Q2 2024 financial results, highlighting a 46% YoY increase in total net product sales, reaching $242 million. Key contributors included a 11% YoY rise in NUPLAZID sales and an 11% sequential increase in DAYBUE sales. The company is progressing with Phase 3 trials for Prader-Willi syndrome and Phase 2/3 trials for Alzheimer’s disease psychosis.

Q2 net income was $33.4 million ($0.20 per share), a significant increase from $1.1 million the previous year. For the six months, net income was $49.9 million ($0.30 per share), reversing a loss of $41.9 million in H1 2023. R&D expenses rose to $76.2 million due to new projects. SG&A expenses were $117.1 million, primarily due to marketing initiatives.

Acadia updated its 2024 guidance, increasing NUPLAZID sales forecast to $590-$610 million but lowering DAYBUE sales projection to $340-$370 million. Total revenue guidance is now $930-$980 million.

Acadia Pharmaceuticals (Nasdaq: ACAD) announced it will report its second quarter financial results on August 6, 2024, post market close. The management team will host a conference call and webcast at 4:30 p.m. Eastern Time on the same day to discuss the financial results and operations. The call will be accessible via Acadia's website under the investors section and archived until September 6, 2024. Participants can register online to receive a dial-in number and unique PIN for the call. Acadia Pharmaceuticals specializes in developing treatments for neuropsychiatric conditions and has FDA-approved drugs for Parkinson’s disease psychosis and Rett syndrome. The company is also conducting clinical-stage research on Prader-Willi syndrome and Alzheimer’s disease psychosis.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) has published results from two open-label extension studies, LILAC-1™ and LILAC-2™, evaluating the long-term safety and efficacy of DAYBUE™ (trofinetide) in patients with Rett syndrome. The studies showed continued improvements in RSBQ and CGI-I scores with long-term DAYBUE treatment. LILAC-1 was a 40-week extension of the 12-week Phase 3 LAVENDER™ trial, while LILAC-2 was a 32-month study. Both studies demonstrated a safety profile consistent with the LAVENDER trial, with diarrhea and vomiting as the most common side effects. These findings contribute to a growing body of research on DAYBUE's potential ongoing impact for Rett syndrome patients, with some patients being on treatment for over two years.

Acadia Pharmaceuticals shared interim data from the LOTUS study on DAYBUE™ (trofinetide) at the 2024 IRSF Annual Scientific Meeting. The open-label study, involving 101 Rett syndrome patients, indicated that over two-thirds reported improvements in symptoms within the first month. Key areas of improvement included nonverbal communication, alertness, and social interaction. However, gastrointestinal issues like diarrhea were common, necessitating management strategies. Six-month data indicated consistent improvements but were by missing data and the lack of a placebo group. The study aims to enroll participants for at least 12 months, with the option to extend for another year. Additional findings and encore data from other studies on DAYBUE were also presented.

Acadia Pharmaceuticals announced that on May 15, 2024, its Compensation Committee granted inducement awards under the 2023 Inducement Plan. The awards include non-qualified stock options to purchase 57,252 shares of common stock and 33,675 restricted stock units (RSUs) to twenty-two new employees. The stock options have an exercise price of $15.12 per share, Acadia's closing trading price on the grant date, and will vest over four years. The RSUs will also vest over four years, with specific vesting schedules. These awards were granted as an inducement material in line with Nasdaq Listing Rule 5635(c)(4).