Acadia Pharmaceuticals Reports Third Quarter 2026 Financial Results
ACADIA PHARMACEUTICALS INC (ACAD) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Acadia Pharmaceuticals Reports Third Quarter 2026 Financial Results - Third quarter GAAP total revenues of $342 million, up 22% year-over-year as compared to non-GAAP adjusted total revenues - Third quarter DAYBUE ® GAAP net sales of $140 million, up 39% year-over-ye
How this was made
The 30-second read
Why it matters
The raised guidance may lift the stock ahead of the conference call, while upcoming Phase 2 readouts add upside risk.
Market read
Earnings beat and guidance lift are primary drivers for short‑term price movement.
What to watch
Potential regulatory delays for upcoming Phase 3 trials could temper upside.
Third quarter GAAP total revenues of $342 million, up 22% year-over-year as compared to non-GAAP adjusted total revenues
GAAP total revenues increased to $342 million, DAYBUE net sales increased 39%, NUPLAZID net sales increased 14% on a GAAP basis, and Acadia raised DAYBUE guidance while lowering R&D expense guidance. Net income declined to $54 million from $72 million as SG&A expense increased to $159 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenues, three months ended September 30GAAP | $342M | – | 23% |
| Product sales, net, three months ended September 30GAAP | $342.3M | – | – |
| Non-GAAP adjusted total revenues, 3Qnon-GAAP | $342.3M | – | – |
| Total revenues, nine months ended September 30GAAP | $918.3M | – | – |
| Cost of product sales, three months ended September 30GAAP | $35.09M | – | – |
| Research and development expense, three months ended September 30GAAP | $76M | – | – |
| Selling, general and administrative expense, three months ended September 30GAAP | $159M | – | – |
| Total operating expenses, three months ended September 30GAAP | $270.6M | – | – |
| Income from operations, three months ended September 30GAAP | $71.72M | – | – |
| Interest income, net, three months ended September 30GAAP | $8.42M | – | – |
| Other income, three months ended September 30GAAP | $300K | – | – |
| Income before income taxes, three months ended September 30GAAP | $80.44M | – | – |
| Income tax expense (benefit), three months ended September 30GAAP | $26.91M | – | – |
| Net income, three months ended September 30GAAP | $54M | – | – |
| Basic earnings per share, three months ended September 30GAAP | $0.31 | – | – |
| Diluted earnings per share, three months ended September 30GAAP | $0.31 per diluted share | – | – |
| Weighted average common shares outstanding, basic, three months ended September 30GAAP | 172.5M | – | – |
| Weighted average common shares outstanding, diluted, three months ended September 30GAAP | 175.5M | – | – |
| Cost of product sales, nine months ended September 30GAAP | $88.20M | – | – |
| Research and development expense, nine months ended September 30GAAP | $234.7M | – | – |
| Selling, general and administrative expense, nine months ended September 30GAAP | $490.5M | – | – |
| Total operating expenses, nine months ended September 30GAAP | $813.4M | – | – |
| Income from operations, nine months ended September 30GAAP | $104.9M | – | – |
| Interest income, net, nine months ended September 30GAAP | $24.47M | – | – |
| Other income, nine months ended September 30GAAP | $1.49M | – | – |
| Income before income taxes, nine months ended September 30GAAP | $130.9M | – | – |
| Income tax expense (benefit), nine months ended September 30GAAP | $42.23M | – | – |
| Net income, nine months ended September 30GAAP | $88.66M | – | – |
| Basic earnings per share, nine months ended September 30GAAP | $0.52 | – | – |
| Diluted earnings per share, nine months ended September 30GAAP | $0.51 | – | – |
| Weighted average common shares outstanding, basic, nine months ended September 30GAAP | 171.6M | – | – |
| Weighted average common shares outstanding, diluted, nine months ended September 30GAAP | 173.8M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| NUPLAZID GAAP net product salesUnderlying demand and the continued expansion of Acadia's commercial reach. | $202M | – | 14% |
| NUPLAZID non-GAAP adjusted net product salesThe non-GAAP adjustment reflects the impact of a change in estimate related to NUPLAZID IRA rebate accruals. | $202M | – | 12% |
| DAYBUE net product salesStrong uptake of DAYBUE STIX. | $140M | – | 39% |
Full Year 2026 Financial Guidance (GAAP) outlook
- Revenue$1.265 to $1.295 billion
- NoteNUPLAZID net product sales: $760 to $775 million
- NoteDAYBUE (including all forms of trofinetide) global net product sales: $505 to $520 million
- NoteR&D expense: $325 to $340 million
- NoteSG&A expense: $665 to $685 million
What drove it
- DAYBUE net product sales increased 39% year-over-year, driven by strong uptake of DAYBUE STIX.
- NUPLAZID GAAP net product sales increased 14% year-over-year; the company cited underlying demand and continued expansion of commercial reach.
- DAYBU launched in Germany in early October 2026 after European Commission approval in August 2026.
- A new U.S. patent covering weight-banded dosing of trofinetide extends U.S. patent protections for DAYBUE and DAYBUE STIX through March 2041.
- The company completed the Phase 3 study of trofinetide in Rett syndrome in Japan, with results described as consistent with the LAVENDER Phase 3 study.
Concerns
- Third-quarter net income was $54 million, compared with $72 million for the same period of 2025.
- Third-quarter SG&A expense was $159 million, compared with $133 million for the same period of 2025.
- Third-quarter income tax expense was $26,915 (in thousands), compared with an income tax benefit of $27,184 (in thousands) for the same period of 2025.
- The company remains dependent on commercialization of NUPLAZID and DAYBUE products and on clinical, regulatory and commercialization progress across its pipeline.
What to watch
- Additional Phase 2 RADIANT data for remlifanserin in Alzheimer’s disease psychosis at the Clinical Trials on Alzheimer’s Disease conference on November 17, 2026.
- ACP-211 Phase 2 readout in major depressive disorder anticipated in the second half of 2027.
- Remlifanserin Phase 2 readout in Lewy body dementia psychosis anticipated in the fourth quarter of 2027.
- Progress toward a trofinetide regulatory filing in Japan in 2027 and a potential launch in 2028, subject to regulatory approval.
- Commercial momentum following the DAYBU launch in Germany and uptake of DAYBUE STIX.
Balance sheet and cash flow
- Cash, cash equivalents and investment securities at September 30, 2026: $976 million; at December 31, 2025: $820 million.
- Cash, cash equivalents and investment securities: $976,446 (in thousands) at September 30, 2026; $819,686 (in thousands) at December 31, 2025.
- Accounts receivable, net: $161,017 (in thousands) at September 30, 2026; $121,457 (in thousands) at December 31, 2025.
- Inventory: $40,360 (in thousands) at September 30, 2026; $34,670 (in thousands) at December 31, 2025.
- Total current assets: $1,268,426 (in thousands) at September 30, 2026; $1,062,113 (in thousands) at December 31, 2025.
- Total assets: $1,794,151 (in thousands) at September 30, 2026; $1,564,195 (in thousands) at December 31, 2025.
- Total current liabilities: $332,217 (in thousands) at September 30, 2026; $277,114 (in thousands) at December 31, 2025.
- Total liabilities: $406,662 (in thousands) at September 30, 2026; $336,805 (in thousands) at December 31, 2025.
- Total stockholders’ equity: $1,387,489 (in thousands) at September 30, 2026; $1,227,390 (in thousands) at December 31, 2025.
Analysis
Acadia reported third-quarter GAAP total revenues of $342 million, compared with $279 million in the third quarter of 2025, with the release citing 23% GAAP growth. Product performance was led by DAYBUE net product sales of $140 million, up 39%, driven by DAYBUE STIX uptake. NUPLAZID GAAP net product sales were $202 million, up 14%, while non-GAAP adjusted NUPLAZID sales were up 12% against the adjusted prior-year comparison.
Operating results reflected both revenue growth and higher commercial spending. Research and development expense declined to $76 million from $88 million, while SG&A expense rose to $159 million from $133 million. Income from operations was $71,718 (in thousands), compared with $35,756 (in thousands). Net income was $54 million, or $0.31 per diluted share, compared with $72 million, or $0.42 per diluted share, as the quarter included income tax expense of $26,915 (in thousands) versus an income tax benefit of $27,184 (in thousands) a year earlier.
For the first nine months, total revenues were $918,312 (in thousands), compared with $787,516 (in thousands), while net income was $88,661 (in thousands), compared with $117,432 (in thousands). Cash, cash equivalents and investment securities totaled $976 million at September 30, 2026, compared with $820 million at December 31, 2025. The filing did not report operating cash flow, free cash flow, debt, repurchases, or dividends.
Management updated full-year 2026 GAAP guidance to total revenues of $1.265 to $1.295 billion. DAYBUE global net product sales guidance increased to $505 to $520 million and R&D expense guidance was reduced to $325 to $340 million. NUPLAZID guidance was narrowed to $760 to $775 million, and SG&A guidance was set at $665 to $685 million. Pipeline milestones include additional RADIANT data on November 17, 2026, and anticipated 2027 Phase 2 readouts for ACP-211 and remlifanserin in Lewy body dementia psychosis.
Management, verbatim
Acadia delivered a strong third quarter, with total revenues of $342 million and continued commercial momentum across DAYBUE and NUPLAZID.
Catherine Owen Adams, Chief Executive Officer of Acadia
In the U.S., DAYBUE delivered another strong quarter, supported by meaningful uptake of DAYBUE STIX.
Catherine Owen Adams, Chief Executive Officer of Acadia
NUPLAZID also performed well, driven by underlying demand and the continued expansion of our commercial reach.
Catherine Owen Adams, Chief Executive Officer of Acadia
Not in the filing
stated, not guessed- Gross margin and gross-margin comparisons.
- Operating cash flow.
- Free cash flow.
- Debt balance.
- Share repurchases.
- Dividends.
- Prior-quarter financial comparisons.
- Non-GAAP operating income, net income, and earnings per share.
- Full balance-sheet line-item discussion beyond the selected balance-sheet items reported.
- Comparison against prior guidance, because a previous outlook section was not provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Acadia reported Q3 2026 results with revenue up 22% YoY and announced new guidance for DAYBUE and total revenue.
Ticker impact
Acadia Pharmaceuticals filed its Q3 2026 results and raised DAYBUE net sales guidance to $505‑$520M, updating full‑year revenue guidance.
likely upward pressure as investors price in higher sales outlook
Guidance lift and strong revenue growth indicate improved near‑term earnings, prompting buying interest.
Market effects
Biotech sector may see modest rally on positive guidance from a peer.
US biotech investors likely to react positively.
Limited to investors tracking niche neuro‑psychiatric therapeutics.
Counterpoint
If guidance is already priced in, the stock could face short‑cover pull‑back.
Key entities
- companyAcadia Pharmaceuticals
NASDAQ‑listed biotech developing neuro‑psychiatric drugs.
