Acadia Pharmaceuticals — Third Quarter 2026 Earnings Summary

Financial Performance:

• GAAP total revenues reached $342 million in Q3 2026, a 22% increase compared to non-GAAP adjusted total revenues of $281 million in Q3 2025, and a 23% increase compared to GAAP total revenues of $279 million in Q3 2025.
• GAAP net product sales for NUPLAZID were $202 million in Q3 2026, up 14% year-over-year from $178 million in Q3 2025, and up 12% on a non-GAAP adjusted basis compared to $180 million in Q3 2025.
• GAAP net product sales for DAYBUE were $140 million in Q3 2026, a 39% increase from $101 million in Q3 2025.
• Research and development expenses were $76 million in Q3 2026, down from $88 million in the same period of 2025.
• Selling, general and administrative (SG&A) expenses were $159 million in Q3 2026, up from $133 million in the same period of 2025.
• Net income for Q3 2026 was $54 million ($0.31 per diluted share), compared to $72 million ($0.42 per diluted share) in Q3 2025.
• Cash, cash equivalents, and investment securities totaled $976 million as of September 30, 2026, up from $820 million at December 31, 2025.

Guidance and Future Outlook:

• Full-year 2026 total revenue guidance revised to $1.265–$1.295 billion (previously $1.24–$1.30 billion).
• Full-year 2026 NUPLAZID net product sales guidance narrowed to $760–$775 million (previously $760–$790 million).
• Full-year 2026 DAYBUE global net product sales guidance raised to $505–$520 million (previously $480–$510 million).
• Full-year 2026 R&D expense guidance lowered to $325–$340 million (previously $355–$380 million).
• Full-year 2026 SG&A expense guidance adjusted to $665–$685 million (previously $660–$700 million).
• Anticipates two Phase 2 readouts in 2027: ACP-211 in major depressive disorder in the second half, and remlifanserin in Lewy body dementia psychosis in the fourth quarter.
• Plans to pursue a distribution partner for trofinetide in Rett syndrome in Japan for a planned regulatory filing in 2027 and a potential launch in 2028.

Business Segments and Product Lines:

• DAYBUE sales growth was driven by strong uptake of DAYBUE STIX in the U.S.
• NUPLAZID performance was driven by underlying demand and continued expansion of commercial reach.
• Launched DAYBU (trofinetide) in Germany in early October 2026 following European Commission approval in August 2026 for the treatment of neurobehavioral symptoms of Rett syndrome in adults and pediatric patients aged five and older.
• Completed the Phase 3 study of trofinetide in Rett syndrome in Japan, with results consistent with the LAVENDER Phase 3 study.
• Continuing Phase 3 development of remlifanserin for Alzheimer's disease psychosis based on Phase 2 results.

Market and Competitive Landscape:

• DAYBU received European Commission approval as the first and only treatment for the neurobehavioral symptoms of Rett syndrome in the EU for the specified patient population.
• Received FDA Fast Track designation for remlifanserin for the treatment of Lewy body dementia psychosis.
• Received allowance of a new U.S. patent covering weight-banded dosing of trofinetide, extending U.S. patent protections for DAYBUE and DAYBUE STIX by nearly five years through March 2041.

Risks and Challenges:

• Forward-looking statements include risks related to clinical trial outcomes, including unsuccessful enrollment and negative or inconsistent results.
• Risks include dependency on successful commercialization of current products, ability to maintain or increase sales, and market acceptance of new products.
• Potential risks involve the costs of commercialization and development programs, ability to obtain regulatory approvals, and dependence on third-party collaborators and manufacturers.
• Risks include the impact of competitive products, ability to generate capital, and ability to manage organizational growth and complexity.

Management Commentary and Tone:

• CEO Catherine Owen Adams described the quarter as "strong" with "continued commercial momentum" across DAYBUE and NUPLAZID.
• Management highlighted meaningful uptake of DAYBUE STIX in the U.S. and excitement to build momentum in Europe following the German launch.
• Management stated that growing franchises provide the foundation to advance clinical programs with potential to become next meaningful growth opportunities.
• Management expressed anticipation for sharing updates on pipeline readouts in 2027.

Other Key Points:

• Phase 3-enabling topline results from the Phase 2 RADIANT study of remlifanserin in Alzheimer's disease psychosis showed consistent efficacy trends at the 60 mg dose across all four psychosis scales and a favorable safety profile.
• Additional data from the RADIANT study will be presented at the Clinical Trials on Alzheimer's Disease conference on November 17, 2026, in Boston.
• Non-GAAP adjusted total revenues for Q3 2025 included adjustments for a change in estimate related to NUPLAZID IRA rebate accruals.
• The company hosts a conference call on November 4, 2026, at 1:30 p.m. PT to discuss results.