ACADIA Pharmaceuticals Inc. (ACAD) stock soared 6.85% in the after-hours trading session at the price of $20.91 after announcing its earnings report for the three months ended on 30th September 2021.
ACAD provides trailblazing discoveries in neuroscience to raise the standards of living. The company works at the forefront of healthcare to present vital solutions to the patients. It produced and commercialized the only approved treatment for delusions and hallucinations related to Parkinson’s disease psychosis.
ACAD Third Quarter 2021 Financial Results
On 8th November 2021, ACAD published its financial results for the third quarter ended on 30th September 2021, and provided corporate updates.
Management Comments
Chief Executive Officer of ACAD, Steve Davis, remarked that their results indicate higher volume growth across all business sectors. Their substantial performance underlines the commercial team’s capacity to excite sales of NUPLAZID in a challenging setting. They will arrange a meeting with the FDA to address analyses about potential resubmission of their sNDA for pimavanserin. Additionally, they look ahead to publishing results from their ongoing LAVENDER Phase 3 study of trofinetide to treat Rett syndrome.
Third Quarter 2021 Financial Highlights
For the three months ended 30th September 2021, ACAD reported $131.6 million from the net sales of NUPLAZID. It represents a gain of 9% from $120.6 million for the third quarter ended 30th September 2020. For the third quarter of 2021, net loss was $14.5 million, or per common share of $0.09. A net loss was $84.7 million, or per common share of $0.54, for the same quarter of the previous year. Cash and cash equivalents were roughly $540.3 million on 30th September 2021. On 31st December 2020, cash, cash equivalents, and investment securities totaled $632.0 million.
ACAD Nine Months 2021 Financial Results
For the nine months ended on 30th September 2021, ACAD calculated net product sales of $353.4 million. Net product sales totaled $320.7 million for the nine months ended on 30th September 2020. For the nine months ended 30th September 2021, ACAD calculated a net loss of $124.8 million, or per common share of $0.78. Net loss was $214.8 million, or per common share of $1.37, for the same nine months of 2020.
