NYC Healthcare News



ACADIA Pharmaceuticals reports increased revenue in first-quarter 2010

September 07, 2015

Revenues increased to $2.1 million for the first quarter of 2010 from $374,000 for the first quarter of 2009. This increase was primarily due to $1.4 million in revenues recognized under ACADIA's collaboration with Biovail, which commenced in May 2009, as well as increased revenues from other agreements.

Research and development expenses decreased to $5.8 million for the first quarter of 2010, including $229,000 in stock-based compensation, from $12.6 million for the first quarter of 2009, including $221,000 in stock-based compensation. This decrease was primarily due to $5.3 million in lower external service costs as well as cost savings from ACADIA's restructuring implemented in October 2009. The decrease in external service costs was primarily attributable to lower clinical costs incurred on ACADIA's Phase III program with pimavanserin for Parkinson's disease psychosis.

General and administrative expenses decreased to $1.8 million for the first quarter of 2010, including $252,000 in stock-based compensation, from $3.0 million for the first quarter of 2009, including $354,000 in stock-based compensation. This decrease was primarily due to lower external service costs and cost savings from ACADIA's restructuring.

Source: ACADIA Pharmaceuticals