Acadia Pharmaceuticals Inc. · NASDAQ:ACAD
Acadia Pharmaceuticals — Q3 2023 Earnings Presentation
24 slides from Acadia Pharmaceuticals's earnings presentation, Nov 2, 2023
Slide 1: Third Quarter 2023 Earnings Call
Third Quarter 2023 Earnings Call November 2, 2023
Slide 2: Call Agenda
Call Agenda Welcome Al Kildani | Senior Vice President, Investor Relations and Corporate Communications CEO Opening Remarks Steve Davis | President and Chief Executive Officer Commercial Update Brendan Teehan | Chief Operating Officer, Head of Commercial R&D Update Doug Williamson, M.D. | Head of Re
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future r
Slide 4: Opening Remarks
Opening Remarks Steve Davis, President and Chief Executive Officer 4
Slide 5: Transformational Period of Growth Delivering Record Revenues
Transformational Period of Growth Delivering Record Revenues Early-Stage Programs and BD Provide Long- Term Opportunities Multiple Late-Stage DAYBUE International Programs Drive • Includes disclosed and Opportunity undisclosed programs Further Growth • Significant unmet • Focused on Strong DAYBUE •
Slide 6: Highly Successful DAYBUE Launch
Highly Successful DAYBUE Launch - Meeting or Exceeding Expectations on All Key Parameters Surge in initial demand that exceeded pre-launch expectations • Pent up demand from Centers of Excellence (COEs) a key driver • Projecting consistent linear adoption curve supporting attractive revenue growth P
Slide 7: Deep CNS and Rare Disease Pipeline Positions Acadia for Long-term Growth
Deep CNS and Rare Disease Pipeline Positions Acadia for Long-term Growth Program Indication Preclinical Phase 1 Phase 2 Phase 3 Marketed NUPLAZID® Parkinson’s Disease (pimavanserin)1 Psychosis DAYBUE™ Rett Syndrome (trofinetide) Negative Symptoms of Pimavanserin2 Schizophrenia Hyperphagia in ACP-101
Slide 8: Commercial Update
Commercial Update Brendan Teehan, Chief Operating Officer, Head of Commercial 8
Slide 9: Highly Successful Launch Fueled Strong Early Demand
Highly Successful Launch Fueled Strong Early Demand • 800 patients on DAYBUE as of September 30, 2023* • Surge of early demand projected to be followed by more linear growth, typical of rare disease launches • Continuing to expand reach in COEs and focused on increasing breadth and depth in signific
Slide 10: Persistency Significantly Ahead of Levels Seen in Clinical Studies
Persistency Significantly Ahead of Levels Seen in Clinical Studies Real world persistency at 4 months Lilac-1 persistency at 4 months* 81% 75% 65% as measured by confirmed as measured by confirmed discontinuations only discontinuations and any patients who are 60+ days past their scheduled refill Cl
Slide 11: Access and Compliance to Dose
Access and Compliance to Dose Faster access enabled early conversion of prescription demand to new patient starts • Average time to conversion ahead of plan and continues to improve • Payers adopting formal plans covering almost 80% of lives to date Compliance to dose • Compliance to dose at month t
Slide 12: Early Feedback on Real World Experience with DAYBUE
Early Feedback on Real World Experience with DAYBUE Caregiver Testimonials “Her feet are much closer together with a more normal gait… When she's standing her feet are at less than a 45 degree angle now, so even in one day, there was a great improvement in the way she walks.” “She is using her right
Slide 13: NUPLAZID 3Q23 Commercial Update
NUPLAZID 3Q23 Commercial Update Key Takeaways • Franchise is increasingly cashflow positive • $144.8M in net product sales • Real World Evidence studies driving new patient starts • New patient starts growing faster than the market; continuing to increase market share Office-Based Channel LTC Channe
Slide 14: R&D Update
R&D Update Doug Williamson M.D., Head of Research and Development 14
Slide 15: Addressing Unmet Need of Predominant Negative Symptoms of Schizophrenia
Addressing Unmet Need of Predominant Negative Symptoms of Schizophrenia No FDA-approved treatment >700K patients in the U.S. have persistent negative symptoms1 Negative symptoms include social withdrawal, lack of motivation and blunted affect and can lead to: • Diminished social functioning • Signif
Slide 16: ACP-101 Phase 3 Study in Prader-Willi Syndrome Initiating Q4
ACP-101 Phase 3 Study in Prader-Willi Syndrome Initiating Q4 Developing as a treatment for Phase 3 Study Design hyperphagia in PWS • 8,000-10,000 patients with PWS in the US1 Carbetocin 3.2 mg • No FDA-approved treatment Screening Double-blind Treatment Period Primary Visit 12 Weeks Endpoint: • Buil
Slide 17: ACP-204 in Alzheimer's Disease Psychosis
ACP-204 in Alzheimer’s Disease Psychosis Phase 1 Study Overview • Evaluated ACP-204 in both healthy adult and elderly patients • Safety, tolerability and drug-drug interaction support our target product profile Target Product Profile Phase 1 Observations Mitigate or eliminate QT ✓ No sign of QT prol
Slide 18: ACP-204 Seamless Phase 2/Phase 3 Program in Alzheimer's Disease Psychosis
ACP-204 Seamless Phase 2 / Phase 3 Program in Alzheimer’s Disease Psychosis Initiating Q4 • On track to initiate Phase 2 study in patients with Alzheimer's disease psychosis in 4Q23 • Familiarity with target and experience with pimavanserin gives confidence in ability to roll seamlessly into two Pha
Slide 19: Financial Update
Financial Update Mark Schneyer, Chief Financial Officer 19
Slide 20: 3Q23 Financial Highlights
3Q23 Financial Highlights 3Q23 3Q22 YoY Millions, Except EPS (GAAP) (GAAP) Change TOTAL Net Sales $211.7 $130.7 +62% NUPLAZID Net Product Sales $144.8 $130.7 +11% DAYBUE Net Product Sales $66.9 R&D $157.0 $81.3 +93% SG&A $97.9 $78.1 +25% Net Income (Loss) ($65.2) ($27.2) EPS ($0.40) ($0.17) Cash Bal
Slide 21: Q4/FY 2023 Financial Guidance
Q4/FY 2023 Financial Guidance 4Q23 Guidance DAYBUE™ Net Sales $80 - $87.5 Million FY23 NUPLAZID® Net Sales $537.5 - $545 Million NUPLAZID® Gross-to-Net 24.5 - 25% GAAP R&D Expense $340 - $350 Million GAAP SG&A Expense $390 - $400 Million NUPLAZID (pimavanserin) is only approved in the U.S. by the FD
Slide 22: Closing Remarks
Closing Remarks Steve Davis, President and Chief Executive Officer 22
Slide 23: Transformational Period of Growth Delivering Record Revenues
Transformational Period of Growth Delivering Record Revenues Early-Stage Programs and BD Provide Long- Term Opportunities Multiple Late-Stage DAYBUE International Programs Drive • Includes disclosed and Opportunity undisclosed programs Further Growth • Significant unmet • Focused on Strong DAYBUE •
Slide 24: Q&A Session
Q&A Session
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