ACADIA Pharmaceuticals Inc. (ACAD) saw its loss widen to $71.61 million, or $0.61 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $38.91 million, or $0.39 a share.
Revenue during the quarter surged 13,407.69 percent to $5.27 million from $0.04 million in the previous year period.
Operating loss for the quarter was $72.40 million, compared with an operating loss of $39 million in the previous year period.
"We are very pleased with the launch and are gratified by the positive feedback we have received from physicians, patients, and caregivers on NUPLAZID (pimavanserin)," said Steve Davis, ACADIA's president and chief executive officer. "We saw solid month-over-month prescription growth, reported increased payor coverage, and continued to expand awareness of NUPLAZID among movement disorder specialists, neurologists, and psychiatrists."
Working capital increases sharply
ACADIA Pharmaceuticals Inc. has recorded an increase in the working capital over the last year. It stood at $564.34 million as at Sep. 30, 2016, up 150.69 percent or $339.23 million from $225.11 million on Sep. 30, 2015. Current ratio was at 15.42 as on Sep. 30, 2016, up from 13.69 on Sep. 30, 2015.
Days sales outstanding went down to 59 days for the quarter compared with 2022 days for the same period last year.
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