Neuren Pharmaceuticals has seen its shares surge, leading gains on the ASX 200, following robust second-quarter results reported by its US partner, Acadia Pharmaceuticals, for DAYBUE, a treatment for Rett syndrome. At 11.45am AEST, Neuren’s shares had climbed 6 per cent to $18.02, after reaching a new 52-week high of $18.44 earlier in the trading session.
Acadia Pharmaceuticals reported impressive DAYBUE net sales of $US96.1 million for the second quarter. This figure represents a 14 per cent increase compared to both the previous quarter and the corresponding period last year. Acadia has reaffirmed its full-year US sales forecast, projecting sales between $US380 million and $US405 million.
Neuren Pharmaceuticals is an Australian biopharmaceutical company focused on developing therapies for neurodevelopmental disorders. Acadia Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system disorders. The number of unique patients receiving DAYBUE reached a record 987, with a noteworthy 70 per cent of active patients now having been on the treatment for 12 months or longer.
As a result of these strong sales, royalties flowing to Neuren are anticipated to reach $14.7 million for the June quarter, marking a 16 per cent increase year-on-year. For the full year, royalties are projected to fall between $62 million and $67 million, contingent upon Acadia achieving its stated guidance and assuming an exchange rate of US65¢.
