NASDAQ$ACAD

ACADIA Pharmaceuticals Inc · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Acadia reported record revenues driven by the strong DAYBUE launch and growth in the NUPLAZID franchise.

Acadia Pharmaceuticals reported record product revenue in Q3 2023, driven by the successful launch of DAYBUE and continued growth of NUPLAZID. The company is also advancing its late-stage pipeline with planned initiations of Phase 3 and Phase 2/Phase 3 studies for ACP-101 and ACP-204, respectively.

  • Total revenues reached $211.7 million, driven by NUPLAZID and DAYBUE sales.
  • DAYBUE net product sales were $66.9 million during its first full quarter of commercialization.
  • NUPLAZID net product sales were $144.8 million, reflecting market share growth.
  • The company is progressing its pipeline with planned Phase 3 and Phase 2/Phase 3 studies for ACP-101 and ACP-204.

Headline financials

Total Revenue

$212M

Previous: $131M+62.0%
EPS (adj)

-$0.40

Previous: -$0.17-135.3%
Capital Expenditures

-$50K

Previous: $0.00
Free Cash Flow

-$65.2M

Previous: -$27.2M-140.0%
Net Income

-$65.2M

Previous: -$27.2M-139.8%
Operating Income

-$57.8M

Previous: -$30.9M-87.2%
Gross Profit

$197M

Previous: $129M+53.3%
Cash & Equivalents

$346M

Previous: $155M+123.4%
Total Assets

$633M

Previous: $602M+5.0%
R&D Expense

$157M

No prior period
Stock-Based Comp

$18.5M

Previous: $18.3M+1.2%

Revenue & EPS history

ACADIA · Revenue · Quarterly

$212M

Q3 2023+62%vs Q3 2022
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

ACADIA · $212M total across 2 segments · Q3 2023

  • NUPLAZID
    $145M+10.8%
  • DAYBUE
    $66.9M

Forward guidance

Acadia Pharmaceuticals provided financial guidance for the fourth quarter and full year 2023.

Tailwinds

  • DAYBUE net sales are projected to be in the range of $80 to $87.5 million for the fourth quarter of 2023.
  • NUPLAZID net sales are expected to be in the range of $537.5 to $545 million for the full year 2023.

Headwinds

  • R&D expense is projected to be in the range of $340 to $350 million for the full year 2023.
  • SG&A expense is projected to be in the range of $390 to $400 million for the full year 2023.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2023

Historical avgQ3 2023

-0.9%

Avg return

Earnings day

-0.4%

Avg return

5 days after

-1.6%

Avg return

30 days after

42%

27 / 65 earnings

Positive

+23.7%

Q3 2016

Best reaction

-22.9%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.9%-2.5%-3.6%
Q4 2025-1.4%-9.9%-16.9%
Q3 2025-2.9%+6.2%+22.9%
Q1 2025+14.4%+16.1%+48.4%
Q4 2024+1.8%-3.9%-10.2%
Q3 2024+14.7%+21.8%+15.2%
Q2 2024-17.6%-15.1%-11.9%
Q1 2024-11.8%-12.0%-13.7%
Q4 2023-8.3%-7.3%-28.6%
Q3 2023+5.0%+2.5%-1.4%
Q2 2023-6.0%-7.4%-4.0%
Q1 2023-2.3%-2.1%+12.3%
Q4 2022+9.4%+7.5%+0.3%
Q3 2022-6.6%-8.6%-0.6%
Q2 2022-1.3%-0.2%+2.5%
Q1 2022-4.9%-17.3%-9.6%
Q4 2021-2.2%-6.2%-4.8%
Q3 2021+7.7%+3.1%+8.8%
Q2 2021-11.0%-11.4%-22.4%
Q1 2021+7.3%+7.7%+21.4%
Q4 2020-4.9%-0.4%-48.0%
Q3 2020+4.2%+7.4%+16.4%
Q2 2020+0.3%-5.1%-12.1%
Q1 2020+5.3%+2.5%-5.3%
Q4 2019-3.9%+7.6%-4.5%
Q3 2019+0.4%+0.4%+7.2%
Q2 2019+14.7%+14.4%+10.6%
Q1 2019+6.0%+11.4%-0.2%
Q4 2018+7.5%+12.0%+12.2%
Q3 2018-7.7%-12.9%-12.7%
Q2 2018-2.0%+0.7%-1.1%
Q1 2018+15.6%+15.8%+14.3%
Q4 2017-22.9%-26.8%-30.5%
Q3 2017-9.6%-12.1%-7.6%
Q2 2017+8.6%+2.1%+17.1%
Q1 2017-8.6%-8.7%-17.8%
Q4 2016-8.1%-7.4%-14.4%
Q3 2016+23.7%+32.8%+24.9%
Q2 2016-1.8%-10.3%-15.0%
Q1 2016+0.4%
Q4 2015+2.2%
Q3 2015-13.1%
Q2 2015-17.8%
Q1 2015+3.2%
Q4 2014+1.5%
Q3 2014-0.7%
Q2 2014+3.1%
Q1 2014-8.4%
Q4 2013-4.8%
Q3 2013-7.8%
Q2 2013-5.6%
Q1 2013-4.4%
Q4 2012-6.0%
Q3 2012+11.0%
Q2 2012-0.7%
Q1 2012+0.0%
Q4 2011+0.6%
Q4 2009+0.6%
Q3 2011-5.0%
Q4 2010-2.9%
Q2 2011-2.9%
Q1 2011-4.1%
Q3 2010+1.4%
Q2 2010-7.5%
Q1 2010+11.5%

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