Acadia Pharmaceuticals 2025 Q2 Earnings Misses Targets Despite Record Net Income

Acadia Pharmaceuticals (ACAD) reported its fiscal 2025 Q2 earnings on Aug 07th, 2025. The company’s total revenue rose 9.3% year-over-year, but its net income and EPS fell short of prior-year levels. Acadia raised its NUPLAZID sales guidance and reaffirmed other 2025 forecasts, signaling cautious optimism despite mixed earnings outcomes.

Revenue
Acadia’s total revenue for Q2 2025 reached $264.57 million, a 9.3% increase compared to $241.96 million in Q2 2024. This growth was driven by robust performances from its two flagship products: NUPLAZID and DAYBUE. NUPLAZID, the company’s Parkinson’s disease psychosis treatment, generated $168.5 million in net product sales, up 7% year-over-year, reflecting both volume growth and effective commercial execution. DAYBUE, its Rett syndrome therapy, posted $96.1 million in net product sales, an impressive 14% year-over-year increase, attributed to expanded patient access and a growing commercial team. The company also announced its highest ever Q2 net income in over two decades, despite a decline in EPS and net income compared to the previous year.

Earnings/Net Income
Acadia Pharmaceuticals reported a decline in its earnings per share (EPS) and net income during Q2 2025. The company’s EPS fell by 20.0% to $0.16 from $0.20 in the prior year, while net income dropped 20.1% to $26.67 million compared to $33.39 million. Despite these declines, the company achieved its highest Q2 net income in more than 20 years, a notable milestone that underscores its continued progress and momentum in the market.

Price Action
The stock of Acadia Pharmaceuticals demonstrated strong short-term performance, with a 1.41% gain on the latest trading day, a 2.39% rise during the most recent full trading week, and a month-to-date surge of 16.08%. These gains suggest investor optimism about the company’s product performance and guidance updates, even amid mixed earnings results.

Post Earnings Price Action Review
The strategy of purchasing ACAD following an earnings beat and holding for 30 days yielded a -23.06% return, significantly underperforming the benchmark’s 86.19%. This approach was characterized by a negative CAGR of -5.15% and a Sharpe ratio of -0.09, signaling a high-risk, low-return investment strategy. Despite the stock's positive price action post-earnings, the historical trading strategy did not translate into favorable returns for investors.

CEO Commentary
Catherine Owen Adams, Chief Executive Officer, highlighted Acadia’s second quarter momentum, emphasizing total revenue of $264.6 million and strong performance from its key products, NUPLAZID and DAYBUE. She noted that NUPLAZID’s success was driven by commercial execution and direct-to-consumer campaigns, while DAYBUE reached a record number of patients. Adams also underscored the company’s successful inaugural R&D Day and key operational updates, including patent wins for NUPLAZID and new leadership appointments, expressing confidence in the company’s continued growth and R&D pipeline.

Guidance
Acadia raised its 2025 NUPLAZID net product sales guidance to a range of $665 to $690 million from $650 to $690 million, while reiterating all other 2025 guidance. The company also adjusted its total revenue forecast to $1.045 to $1.095 billion from $1.030 to $1.095 billion. DAYBUE net product sales guidance remains unchanged at $380 to $405 million. R&D expenses are expected to fall between $330 and $350 million, and SG&A expenses are projected to range from $535 to $565 million. Top-line results from the COMPASS PWS Phase 3 study of ACP-101 are anticipated in early Q4 2025.

Additional News
In the past three weeks, Acadia announced key developments, including the appointment of Allyson McMillan-Youngblood as Senior Vice President, Rare Disease Franchise, and Scott Cenci as Senior Vice President and Chief Information and Data Officer. The company also hosted its inaugural R&D Day, showcasing its deep pipeline and future initiatives. Additionally, Acadia secured significant patent wins for NUPLAZID, reinforcing its market exclusivity through 2038. These moves highlight the company's strategic focus on leadership, innovation, and long-term value creation.