Neuren Pharma shares soar on Q2 royalties growth
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More news: Neuren Pharmaceuticals was the best performing ASX 200 company in morning trade, after the biotech company reported a 9% rise in quarterly royalties from US sales of its Retts syndrome treatment Daybue.
Neuren shares were up 5.7% to $17.98 at 11:10am AEST, taking gains to 43.8% since the turn of the year.
Neuren Pharmaceuticals reports 9% jump in quarterly US royalties
The news: Biotech group Neuren Pharmaceuticals has reported a 14% uptick in quarterly US sales of its Retts syndrome treatment Daybue.
The numbers: Neuren said net sales totalled USD96.1 million ($147.9 million) in the second quarter, up 14% quarter on quarter, and also a 14% rise compared to the same period last year.
The Melbourne-based company, which has licensed Nasdaq-listed Acadia Pharmaceuticals as its US distributor, earned royalty income of $14.7 million on second-quarter sales, up 9% on the previous quarter.
Acadia reiterated its full-year US net sales guidance for Daybue of USD380 million to USD405 million, implying full-year US royalty income for Neuren of between $62 million and $67 million.
The context: Neuren said the quarterly growth was driven by an increase in unit sales shipped to more unique patients. The number of unique patients receiving a Daybue shipment reached a record high of 987 during the period, up from 954 in the previous quarter.
During the period, Acadia also expanded its Daybue sales force by around 30%, to support increased penetration in the community and outside the Rett syndrome centres of excellence.
Neuren said there remains "substantial potential for future growth in the US", with two-thirds of the 5,500 to 5,800 diagnosed Rett patients yet to try Daybue.
Meanwhile, Acadia is building its European commercial team in anticipation of approval of its European marketing application in the first quarter of 2026.
The source: ASX
