ACADIA Pharmaceuticals (ACAD) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $268.1 million, up 11% year-over-year, driven by 20% growth in DAYBUE sales and 6% growth in NUPLAZID sales, with strong uptake of DAYBUE STIX and robust cash reserves of $851.5 million.

• Net income for Q1 2026 was $3.6 million, down from $19 million in Q1 2025, primarily due to higher SG&A expenses.

• DAYBUE STIX launched with strong early uptake, accounting for over 250 prescriptions in Q1, with ~30% from new or returning patients.

• Pipeline progress includes anticipated phase II topline results for remlifanserin in Alzheimer's disease psychosis (ADP) in August–October 2026 and accelerated phase III trofinetide study in Japan.

• Cash, cash equivalents, and investments totaled $851.5 million at quarter end, providing strong liquidity.

Financial highlights

• Total Q1 2026 revenue: $268.1 million, up 11% year-over-year (adjusted).

• DAYBUE net sales: $101.2 million, up 20% year-over-year; NUPLAZID net sales: $166.9 million, up 6% year-over-year (adjusted).

• Gross to net adjustment: NUPLAZID at 22.1%, DAYBUE at 25.8%.

• SG&A expenses increased to $171 million from $126.4 million, reflecting expanded commercial activities.

• R&D expenses were $76.9 million, nearly flat year-over-year.

Outlook and guidance

• Full-year 2026 total revenue guidance reaffirmed at $1.22–$1.28 billion.

• NUPLAZID net sales expected at $760–$790 million; DAYBUE net sales at $460–$490 million.

• R&D expense guidance: $385–$410 million; SG&A expense guidance: $660–$700 million.

• Revenue expected to be back-end loaded, with greater sales in H2 2026 due to expanded field force and broader DAYBUE STIX adoption.

• Anticipated topline results for remlifanserin (ADP) in August–October 2026 and trofinetide (Japan Phase 3) in September–November 2026.