Neuren Pharmaceuticals reports 24% rise in quarterly royalties
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The news: Biotech company Neuren Pharmaceuticals reported a 24% rise in royalties from quarterly US sales of its Retts syndrome treatment Daybue.
The numbers: Neuren said net sales totalled USD101.1 million ($155 million) for the third quarter, up 11% year on year, and up 5% quarter over quarter.
The Melbourne-based company, which has licensed Nasdaq-listed Acadia Pharmaceuticals as its US distributor, earned royalty income of $16.4 million third-quarter sales, up 24% year on year and up 12% quarter over quarter.
Acadia narrowed its full-year US net sales guidance for Daybue from USD385-400 million, from USD380-405 million. This implies full-year US royalty income for Neuren of between $63-66 million, compared to the $62-67 million range previously guided.
The context: Neuren said the number of patients receiving a Daybue shipment exceeded 1,000 for the first time in the third quarter, up from 987 in Q2 and 954 in Q1.
Around 74% of the prescriptions to new patients during the period were written by physicians in the community setting outside the Rett syndrome centres of excellence. The quarter also saw the highest quarter-on-quarter increase in patient referrals since the launch of the treatment.
Neuren said there remains "substantial potential for future growth in the US, as overall US penetration reached approximately 40% while community penetration reached approximately 27%."
Acadia is also progressing applications for the treatment in the EU and Japan.
The source: ASX
