Shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) closed the trading at a price of $26.43 with the positive change of +4.71%. In the past session approximately 904,533 shares were exchanged against the average daily trading volume of 1,093,050 shares. The stock touched to the maximum level of $26.45, and it reached the lower level of $25.28 in past session. The stock’s market capitalization has now valued at $3.81B. The stock’s low price in its 52 week is $12.77 per share while $28.67 as the 52 week high price.

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), recently reported its financial results for the first quarter ended March 31, 2019.

Financial Results

Revenue

Net sales of NUPLAZID^® (pimavanserin) were $63.0M for the first quarter of 2019, a raise of 29% as contrast to $48.9M stated for the first quarter of 2018.

Research and Development

Research and development expenses for the first quarter of 2019 were $52.9M, contrast to $39.3M for the same period of 2018. The increase was primarily Because of additional clinical study costs for pimavanserin as well as development costs for trofinetide.

Selling, General and Administrative

Selling, general and administrative expenses for the first quarter of 2019 were $93.1M, contrast to $60.9M for the same period of 2018. The increase was primarily Because of a raise in marketing expenses related to our direct-to-consumer advertising campaign as well as increased charitable contributions.

Net Loss

For the first quarter of 2019, ACADIA stated a net loss of $85.3M, or $0.59 per ordinary share, contrast to a net loss of $54.3M, or $0.44 per ordinary share, for the same period in 2018. The net losses in the first quarter of 2019 and 2018 included $19.9M and $20.4M, respectively, of non-cash stock-based compensation expense.

Cash and Investments

At March 31, 2019, ACADIA’s cash, cash equivalents, and investment securities totaled $414.3M, contrast to $473.5M at December 31, 2018.

2019 Financial Guidance

• ACADIA is updating 2019 NUPLAZID net sales guidance to be between $280M and $300M from a previous range of $275M to $300M.
• ACADIA reiterates GAAP R&D guidance to be between $250M and $265M.
• ACADIA reiterates GAAP SG&A guidance to be between $280M and $295M.
• ACADIA reiterates non-cash stock-based compensation expense guidance to be between $80M and $90M.