ACAD Q2 Earnings and Revenues Beat, '26 View Raised on Product Sales

ACAD's Q2 Earnings in Detail

Acadia’s revenues comprise net product sales from its two marketed drugs, Daybue (trofinetide) and Nuplazid (pimavanserin). Reported revenues increased from $264.6 million in the second quarter of 2025 to $308 million in the reported quarter.

The company’s quarterly performance benefited from continued demand for both products. Daybue growth was supported by the uptake of the recently launched Daybue STIX formulation, while Nuplazid benefited from volume growth and increased new-patient prescriptions.

Acadia's Nuplazid Sales Rise Year Over Year

Reported net product sales of Nuplazid were $183.2 million in the second quarter of 2026, up 9% from $168.5 million in the year-ago period. The drug is approved in the United States for treating hallucinations and delusions associated with Parkinson’s disease psychosis. Nuplazid sales beat the Zacks Consensus Estimate of $181.5 million.

Management stated that Nuplazid’s growth was primarily volume-driven. New-patient prescriptions increased 20% year over year and reached their highest quarterly level since the first quarter of 2018. Acadia also continued to expand engagement with priority health care providers through its enlarged field force.

ACAD's Daybue Sales Jump on STIX Uptake

Daybue reported net product sales of $124.8 million, up 30% from $96.1 million in the second quarter of 2025. Daybue is approved in the United States for treating Rett syndrome in adult and pediatric patients two years of age and older. The reported figure beat the Zacks Consensus Estimate of $111.3 million.

Growth was driven largely by volume and strong uptake of Daybue STIX, a powder formulation for oral solution. Approximately 40% of U.S. Daybue patients were receiving STIX by the end of the quarter. The company also recorded a quarterly high in the number of patients returning to Daybue treatment.

Acadia stated that around 60% of total referrals during the quarter came from treatment-naive patients, while 40% represented returning patients. For STIX specifically, 55% of patients switched from the oral solution, while the remaining 45% were new or returning patients.

Year to date, Acadia shares have gained 1.7% compared with the industry’s 2.6% growth.

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Acadia’s Operating Expenses Rise in Q2

Research and development (R&D) expenses were $82 million in the second quarter of 2026, up 5% from $78 million in the year-ago period.

Selling, general and administrative (SG&A) expenses increased 20% year over year to $160 million from $134 million. The increase reflected investments in expanding the Nuplazid and Daybue field forces and higher marketing spending to support both brands.

Acadia had cash, cash equivalents and investment securities worth $956 million as of June 30, 2026, compared with $851 million as of March 31, 2026.

Acadia Raises Its 2026 Revenue Outlook

Following the strong quarterly performance, Acadia raised its total revenue guidance for 2026 to a range of $1.24 billion to $1.30 billion. The previous guidance range was $1.22 billion to $1.28 billion.

The company increased its Daybue global net product sales forecast to $480-$510 million from the prior range of $460-$490 million. The revised outlook reflects strong U.S. demand, uptake of STIX and expected contributions from international markets.

Nuplazid net product sales guidance was maintained at $760-$790 million. Management expects the expanded field force to have a greater impact on Nuplazid’s performance later in the year as sales representatives deepen engagement with targeted physicians.

Acadia now expects R&D expense in the range of $355-$380 million, down from the previous range of $385-$410 million. SG&A expenses continue to be expected between $660 million and $700 million.

ACAD Advances Its Neurology Pipeline

Acadia completed enrollment in the phase II portion of the RADIANT program evaluating remlifanserin in Alzheimer’s disease psychosis (ADP). The study enrolled 363 patients, and top-line results are expected between September and October 2026.

The company has also started screening and enrollment in two phase III studies of remlifanserin in ADP. The candidate received Fast Track designation from the FDA for treating hallucinations and delusions associated with ADP.

A separate phase II study of remlifanserin is underway in Lewy body dementia psychosis. Acadia is also evaluating ACP-211 in a phase II study for major depressive disorder, while ACP-711 and ACP-271 are progressing through phase I development.

Acadia also received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use recommending authorization of Daybu for the treatment of neurobehavioral symptoms of Rett syndrome in adults and pediatric patients aged five years and older. If approved, Daybu would become the first authorized treatment for Rett syndrome in the EU. A final European Commission decision is expected later in the third quarter of 2026.

ACAD's Zacks Rank & Stocks to Consider

Acadia currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Repligen RGEN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.33, while estimates for 2027 have increased from $3.64 to $3.87 during the same time. HRMY shares have gained 3.5% year to date.

Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%.

Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 8.6% year to date.

Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 156.2% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.

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This article originally published on Zacks Investment Research (zacks.com).

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