ACADIA PHARMACEUTICALS INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONS (form 10-Q)
ACAD
Overview
Impact of COVID-19 on our Business
Background
Since the beginning of 2022, we have advanced our pipeline and clinical studies through the following events:
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Financial Operations Overview
Product Revenues
Cost of Product Sales
License Fees and Royalties
Research and Development Expenses
Total research and development $ 128,855 $ 56,973
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* Includes upfront and milestone consideration as well as transaction costs associated with acquired in-process research and development.
Selling, General and Administrative Expenses
Critical Accounting Policies and Estimates
Results of Operations
Fluctuations in Operating Results
Comparison of the Three Months Ended March 31, 2022 and 2021
Product Sales, Net
$ 31,432 $ 39,235
Cost of Product Sales
Research and Development Expenses
Selling, General and Administrative Expenses
Liquidity and Capital Resources
We may require significant additional financing in the future to fund our operations. Our future capital requirements will depend on, and could increase significantly as a result of, many factors, including:
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the costs of our development activities for trofinetide;
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the costs of our development activities for ACP-044;
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the costs of our development activities for ACP-319;
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the costs of our development activities for the M1 PAM program;
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the costs of our development activities for Stoke collaboration programs;
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the costs of commercializing NUPLAZID, including the maintenance and development of our sales and marketing capabilities;
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the costs of establishing, or contracting for, sales and marketing capabilities for other product candidates;
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the amount of U.S. product sales from NUPLAZID;
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the costs of manufacturing and distributing NUPLAZID for commercial use in the U.S.;
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our ability to obtain regulatory approval for, and subsequently generate product sales from, NUPLAZID in jurisdictions other than the U.S. or in additional indications other than PDP, or from trofinetide, ACP-044, ACP-319 and other product candidates;
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the costs of acquiring additional product candidates or research and development programs;
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the scope, prioritization and number of our research and development programs;
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the ability of our collaborators and us to reach the milestones and other events or developments triggering payments under our collaboration or license agreements, or our collaborators' ability to make payments under these agreements;
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our ability to enter into new collaboration and license agreements;
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the extent to which we are obligated to reimburse collaborators or collaborators are obligated to reimburse us for costs under collaboration agreements;
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the costs involved in filing, prosecuting, enforcing, and defending patent claims and other intellectual property rights;
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Off-Balance Sheet Arrangements
Recent Accounting Pronouncements
See Item 1 of Part I, "Notes to Condensed Consolidated Financial Statements - Note 10 - Recent Accounting Pronouncements".
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