Acadia Reports First Quarter 2017 Financial Results
Published: May 10, 2017
SAN DIEGO--(BUSINESS WIRE)--ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders, today announced its unaudited financial results for the first quarter ended March 31, 2017.
“We’re very pleased with our strong start to 2017,” said Steve Davis, ACADIA’s President and Chief Executive Officer. “The use of NUPLAZID® in Parkinson’s disease psychosis continues to expand as brand awareness among neurologists, psychiatrists, and other healthcare providers grows. We also continue to advance our ongoing clinical studies in Alzheimer’s disease agitation, schizophrenia inadequate response, schizophrenia negative symptoms, and major depressive disorder, and we look forward to moving our Alzheimer’s disease psychosis program into Phase III in the second half of 2017.”
- Net revenue for the first quarter of 2017 of $15.3 million, an increase of 28% from the fourth quarter of 2016.
- NUPLAZID (pimavanserin) available on Medicare formularies for the treatment of Parkinson’s disease psychosis (PD Psychosis); commercial coverage decisions grew to over 90% of commercial lives.
- Expanded penetration into the long-term care market with 25 additional long-term care sales specialists; ACADIA currently has approximately 155 total sales specialists.
- Continued to execute on broad clinical development program with ongoing studies in Alzheimer’s disease agitation, schizophrenia inadequate response, schizophrenia negative symptoms, and major depressive disorder.
- Plan to advance Alzheimer’s disease psychosis (AD Psychosis) program into Phase III in second half of 2017.
- Presented data on NUPLAZID in PD Psychosis at the American Association for Geriatric Psychiatry Annual Meeting.
- Appointed Michael J. Yang as Executive Vice President, Chief Commercial Officer.