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Acadia Pharmaceuticals Reports First Quarter 2022 Financial Results
- 1Q22 net sales of $115.5 million, an 8% increase over 1Q21 - Reiterating FY22 net sales guidance of $510 to $560 million - FDA Advisory Committee meeting
About this update from Acadia Pharmaceuticals Inc.
[{"type":"text","content":"\n- 1Q22 net sales of $115.5 million, an 8% increase over 1Q21\n\n- Reiterating FY22 net sales guidance of $510 to $560 million\n\n- FDA Advisory Committee meeting to review sNDA for pimavanserin for the treatment of ADP scheduled for June 17, 2022\n\n SAN DIEGO--(BUSINESS WIRE)--\nAcadia Pharmaceuticals Inc. (Nasdaq: ACAD), today announced its financial results for the first quarter ended March 31, 2022.\n\n“NUPLAZID continued to deliver year over year growth in the first quarter of 2022,” said Steve Davis, Chief Executive Officer. “In the near term, we are focused on preparing for the upcoming Advisory Committee meeting in connection with our resubmitted sNDA for pimavanserin in Alzheimer’s disease psychosis. In addition, we have aligned with the FDA on the contents of our upcoming NDA submission for trofinetide in Rett syndrome and continue to enroll patients in our ongoing Phase 3 study evaluating pimavanserin for the negative symptoms of schizophrenia.”\n\nCompany Highlights\n\n\nThe U.S. Food and Drug Administration (FDA) Advisory Committee meeting is scheduled for June 17, 2022 to review the resubmission of the supplemental New Drug Application (sNDA) for pimavanserin for the treatment of hallucinations and delusions associated with Alzheimer’s disease psychosis (ADP).\n\n\nThe FDA is targeting an August 4, 2022 action date for the resubmitted sNDA for pimavanserin for the treatment of ADP.\n\n\nTrofinetide for the treatment of Rett syndrome remains on track for an NDA submission around mid-year 2022.\n\n\nLate-breaker oral presentation on the efficacy and safety data from the Phase 3 Lavender study of trofinetide was presented at the 2022 American Academy of Neurology Annual Meeting (AAN) on April 5, 2022.\n\n\nParag Meswani joined Acadia as Senior Vice President, Trofinetide - Rare Disease Franchise to lead the trofinetide commercial effort. In addition, Holly Valdiviez joined Acadia as Senior Vice President, Head of Sales for NUPLAZID. Parag and Holly have joined Acadia’s Executive Management Committee.\n\n\nFinancial Results\n\nRevenue\n\nNet sales of NUPLAZID (pimavanserin) were $115.5 million for the three months ended March 31, 2022, an increase of 8% as compared to $106.6 million reported for the three months ended March 31, 2021.\n\nResearch and Development\n\nResearch and development expenses for the three month...