ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Q3 2019 Earnings Conference Call - Final Transcript

Oct 30, 2019 • 04:30 pm ET


ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Q3 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good day, ladies and gentlemen, and welcome to the ACADIA Pharmaceuticals Third Quarter 2019 Financial Results Conference Call. My name is Daniel, and I will be your coordinator for today. [Operator instructions]

I would now like to turn the presentation over to Mark Johnson, Vice President of Investor Relations at ACADIA. Please proceed.

Mark Johnson

Thank you, Daniel. Good afternoon, and thank you for joining us on today's call to discuss ACADIA's third quarter 2019 financial results. Joining me on the call today from ACADIA are Steve Davis, our Chief Executive Officer, who will review our achievement this quarter; Michael Yang, our Chief Commercial Officer, who will provide updates on our commercial initiatives and plans; Serge Stankovic, our President, who will discuss our pipeline progress; and Elena Ridloff, our Chief Financial Officer, who will discuss our financial results, before turning it back over to Steve for his final remarks and opening the call up for questions. I would also like to point out that we're using supplement slides which are available on the Events and Presentations section of our website.

Before we proceed, I would first like to remind you that during our call today, we'll be making a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including goals, expectations, plans, prospects, growth potential, timing of events or future results are based on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties that may cause actual results to differ materially. These factors and other risks associated with our business can be found in our filings made with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of today's date.

I will now turn the call over to Steve Davis, our Chief Executive Officer.

Stephen R. Davis

Thank you, Mark. Good afternoon, everyone, and thank you for joining us today. I am extremely pleased by the high quality of execution our team has delivered this quarter. In the past few months, our team has made great strides in helping us fulfill our promise to improve the lives of patients and caregivers with new and innovative medicines for neurological disorders.

Today, more people are receiving treatment with NUPLAZID for their Parkinson's disease psychosis than ever before. The number of patients being treated continues to grow, as well as the number of physicians who are prescribing this important treatment option. The stories we hear from patients, caregivers and physicians are incredibly rewarding and reinforce our passion to continue to educate the community on PDP and the potential of NUPLAZID. This unwavering commitment and execution from our team is reflected in our strong financial performance this quarter.

We delivered third quarter net sales of $94.6 million, a 62% increase year-over-year. As a result, we raised our full year 2019 net sales guidance to $330 million to $340 million. This represents a 50% increase year-over-year at the midpoint of the