ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Posts A Growth Of 32% YoY To $110.1 Million in Q2 2020

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reported sales of $110.1 million in Q2 2020. CEO of Acadia, Steve Davis, said the company achieved significant growth of NUPLAZID in H1 2020. The company completed sNDA filing to treat dementia associated with psychosis. It expects to achieve success in providing an FDA approved treatment for this dreadful disease. Acadia is banking on its successes in DRP and PDP programs to advance late-stage and early-stage pipeline.

Acadia expects to report sales of $450 million from NUPLAZAID in 2020. It expects to maintain cash equivalents, cash, and investment securities at $590 million this year.

Topline results of pimavanserin in Phase 3 clinical trial

Acadia reported topline pimavanserin results in Phase 3 clinical trial in curing people suffering from a significant depressive disorder. The company submitted sNDA (supplemental NDA) for pimavanserin to FDA to treat people suffering from delusions and hallucinations related to DRP (dementia-related psychosis). It received therapy designation for its drug pimavanserin to cure delusions and hallucinations related to DRP.

In the US, Steve said its innovative cure is beneficial for 2.4 million, who are suffering from dementia-related delusions and hallucinations. The can satisfy significant unmet medical needs where no approved treatment exists for this disease.

Begins second pivotal study

Acadia started the SPT (second pivotal trial), a 26-week, ADVANCE-2, 386 patient, placebo-controlled Phase 3 study to investigate pimavanserin’s safety and efficacy (34 mg) to cure negative symptoms of schizophrenia.

Shows clinical data

Acadia showed positive results from a pivotal advance trial called Phase 2, double-blind, randomized, and placebo-controlled study of Pimavanserin in people with schizophrenia symptoms at ASCP (American Society of Clinical Psychopharmacology) in May 2020.

Acadia showed an oral presentation of positive results from the open-label trial of the HARMONY study in July 2020 at AAICV (Alzheimer’s Association International Conference virtual event).

Adds Mark Schneyer as SVP

Acadia added Mark Schneyer as Senior Vice President (Business Development). The company also recruited Spyros Papapetropoulos as SVP (Head of Clinical Development).

Schneyer is given the responsibility for executing and sourcing business development opportunities. He is also part of the EMC (Executive Management Committee) of Acadia. Steve said Schneyer’s biopharmaceutical industry experience is a valuable addition to the company because it expects to expand its pipeline.