ACADIA Pharmaceuticals (ACAD) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Daybue launch and patient penetration

• Achieved 30% penetration among 5,000 diagnosed Rett patients, with 50% penetration in Centers of Excellence (COEs).

• Growth in high-volume institutions and community practices is slower but progressing, with expectations for higher overall penetration.

• Current prescriber base exceeds 700 physicians, with new patients added daily.

• Revenue outlook for Daybue is $340M–$370M for the year, with continued quarter-over-quarter growth expected.

• Discontinuation rates are highest early in therapy, mainly due to tolerability, but long-term persistency is tracking above clinical study data.

Nuplazid performance and growth drivers

• Nuplazid annualizes at $560M–$590M, with recent sales growth attributed to real-world evidence studies showing mortality and cost benefits.

• Label clarification now allows use in Parkinson’s psychosis patients with dementia, benefiting up to half the target population.

• New disease education campaigns, including a partnership with Ryan Reynolds, aim to boost awareness and demand.

• Franchise focus remains on optimizing cash flow, with high operating leverage and cash flow exceeding $300M at $550M sales.

• Most campaign investment benefits are expected in 2025–2026.

Pipeline and legal updates

• Prader-Willi syndrome (ACP-101) data is expected before Alzheimer’s disease psychosis (ACP-204), with Prader-Willi enrollment ahead of plan.

• Recent Allergan IP case win has positive implications for ongoing Nuplazid patent appeals.