Short answer
ACADIA PHARMACEUTICALS INC (ACAD) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $1.1B (+11.9% year over year) and net income of $391M.
- Top risk flagged: Cybersecurity incident escalation to audit committee requiring coordination among CIDO, Chief Legal Officer, and Senior VP of Finance
FY2025 key financial metrics · XBRL
- Revenue
- $1.1B
- +11.9% YoY
- Net income
- $391M
- +72.7% YoY
- Operating margin
- 9.8%
- −14.3 pp YoY
- EPS (diluted)
- $2.30
- +69.1% YoY
- ROE
- 31.9%
- +1.0 pp YoY
- Operating cash flow
- $110M
- −30.4% YoY
Source: XBRL data from the ACADIA PHARMACEUTICALS INC (ACAD) FY2025 10-K on SEC EDGAR. USD.
ACADIA PHARMACEUTICALS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
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