ACADIA PHARMACEUTICALS INC (ACAD) FY2025 10-K Annual Report
ACADIA PHARMACEUTICALS INC (ACAD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
ACADIA PHARMACEUTICALS INC FY2025 10-K Analysis
Business Overview
- • Core business: biopharmaceutical focus on neurological and rare diseases with $1.07B net sales from NUPLAZID and DAYBUE in 2025, up from $958M in 2024
- • New product launch: DAYBUE STIX powder formulation introduced in Q1 2026 for Rett syndrome, offering dosing flexibility and improved patient experience
- • Strategic shift: expanding global footprint with EMA marketing authorization application and re-examination request after negative CHMP vote for trofinetide in Rett syndrome
- • Quantitative highlight: initiated three Phase 2 studies in 2025-2026—remlifanserin for ADP and LBDP, ACP-211 for MDD, and planned ACP-711 Phase 2 start for essential tremor
- • Noteworthy fact: discontinued development of ACP-101 after Phase 3 failure in Prader-Willi syndrome, refocusing resources on neurological and rare disease pipeline
Management Discussion & Analysis
- • Revenue $1,071.5M in 2025 vs $957.8M in 2024, driven by NUPLAZID and DAYBUE sales, up $113.7M YoY
- • Operating loss driven by R&D expenses $328.8M in 2025 vs $303.2M in 2024; gross-to-net adjustments reduced net sales by $20.1M from Medicare rebate revision
- • Best performing: DAYBUE, contributing significantly with expanded approvals; worst: ACP-101 discontinued post Phase 3 failure
- • Cash inflows included $146.5M Rare Pediatric Disease PRV sale in 2024; capital outlays include $12M upfront and milestone payments in R&D for 2025
- • Forward outlook notes substantial R&D investments continuing for remlifanserin and early-stage candidates; risks include regulatory milestone uncertainties and potential clinical trial delays
Risk Factors
- • Cybersecurity incident escalation to audit committee requiring coordination among CIDO, Chief Legal Officer, and Senior VP of Finance
- • New CIDO hired August 2025 tasked with integrating cybersecurity risk into overall risk strategy
- • Senior Director of Info Security with decade-long company tenure leads cybersecurity risk management processes
- • Incident response includes cross-functional senior management team and security operations integration
- • Governance oversight involves regular audit committee reviews of cybersecurity threats and mitigation efforts
ACADIA PHARMACEUTICALS INC FY2025 Key Financial MetricsXBRL
Revenue
$1.1B
▲ +11.9% YoY
Net Income
$391M
▲ +72.7% YoY
Operating Margin
9.8%
▼ -1431bp YoY
Net Margin
36.5%
▲ +1285bp YoY
ROE
31.9%
▲ +95bp YoY
Total Assets
$1.6B
▲ +31.7% YoY
EPS (Diluted)
$2.30
▲ +69.1% YoY
Operating Cash Flow
$110M
▼ -30.4% YoY
Source: XBRL data from ACADIA PHARMACEUTICALS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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