Acadia Pharmaceuticals posted increased sales of its drug nuplazid in recent fourth quarter results.
Sales of nuplazid — Acadia’s only drug on the market — rose 37 percent year-over-year to $59.6 million during the quarter, according to the San Diego company. Nuplazid won approval in 2016 to treat hallucinations and delusions caused by Parkinson’s disease.
Acadia reported a net loss of $65.5 million, or $0.50 per share, compared to a net loss of $68.9 million, or $0.55 per share, for the same period in 2017. That included a stock compensation expense of $20.4 million in the fourth quarter of 2018 and $22 million during the final quarter of 2017.
The company wants to expand the use of nuplazid in other indications, with multiple clinical trial developments anticipated in 2019. Mid-year, the company will announce late-stage results for the drug in schizophrenia.
Last fall, the U.S. Food and Drug Administration reaffirmed nuplazid after a reexamination.
In 2019, Acadia expects sales to reach $275 million to $300 million.