Acadia, page-636

From my perspective there are just too many variables to overcome in trying to accurately assess Acadia Daybue 2Q 2024 revenue.A few examples are given below:
*Acadia Daybue revenue is derived from Daybue daily dosage volumes given to patients [ranging from 25ML to 60ML twice per day] based on an individuals weight.
At the stated Acadia Daybue patient cost of $21.10 per ML Acadia annual revenue per patient can range from a minimum $385K for a light individual up to $924K for a heavier type.Using a patient weight of 27kg for example results in an patient cost of $50K per month or $600K pa. Patient weight information as well as patient numbers appears to be necessary to make accurate revenue assessments.

*Using 80% gross to net pricing Acadia has stated that $375K as their average net cost to payers for therapy having have due regard for patient weight-dosing requirements -patient recruitment variables and mandatory government discounts.No mention is made of any insurance take up issues.Culper calculated this number @$368K per patient while Cannacord Genuity apparently arrived at only $250K per patient.

* In the absence of any better patient numbers at this time Neuren indicated that 862 patients were in therapy when Q1 revenues were reported.
In the event that this number has not changed materially at all these same patients would need to be generating $536K revenue each to reach the Acadia minimum Q2 revenue projections before using the gross to net pricing formula.
Kens