The following is a summary of the ACADIA Pharmaceuticals Inc. (ACAD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• ACADIA Pharmaceuticals reported Q1 revenue of $205.8 million, a 74% increase compared to Q1 2023, largely driven by the addition of DAYBUE to their product portfolio.

• NUPLAZID franchise contributed $129.9 million in Q1 sales, up 10% from the same period last year.

• The company's cash reserves increased by $30 million during Q1, reaching a total of $470.5 million.

• R&D expenses for the first quarter decreased to $59.7 million from $69.1 million in Q1 2023, largely due to the commercial supply build of Trofinetide.

Business Progress:

• One in four diagnosed Rett patients have started treatment with DAYBUE, showing significant market penetration within the first year of launch.

• The company aims to file DAYBUE applications for regulatory approval in Europe, Japan, and Canada.

• ACADIA is also working on new drugs, including its Phase 3 Prader-Willi syndrome program and a Phase 2-Phase 3 program in Alzheimer's disease psychosis.

• ACADIA observed higher patient discontinuations for DAYBUE in the initial stages. They aim to improve this by educating caregivers on setting right expectations for time to benefit from DAYBUE.

• ACADIA anticipates no impacts on DAYBUE from the development of gene therapies for Rett syndrome and could be prescribed alongside other drugs to deliver additional benefits.

• The company is committed to investments for growth, including plans for expansion beyond the U.S. and continuous development of DAYBUE in the U.S.

• ACADIA has seen increased patient growth every quarter, especially for the drug NUPLAZID, with expectations for further growth as clinic appointments rebound.

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