Neuren Pharmaceuticals (ASX:NEU) announced its financial and operational highlights for the third quarter, with significant progress reported on multiple fronts.
The company reported royalty income of $13.2 million in Q3, bringing the cumulative total for the year to $37.5 million.
The standout achievement for Neuren was the net sales of DAYBUE™ (trofinetide) exceeding the US$250 million ($380.6 million) threshold within nine months, triggering a US$50 million ($76.1 million) sales milestone.
Additionally, Neuren will receive a one-third share of US$150 million ($228.4 million) from the sale of a Priority Review Voucher by Acadia Pharmaceuticals.
“This quarter has clearly emphasised the value to Neuren of DAYBUE and our partnership with Acadia," said Jon Pilcher, CEO of Neuren Pharmaceuticals.
"Once again, this demonstrates we are in the enviable position that our share of the large global market opportunity for DAYBUE™ provides such a strong financial foundation," Pilcher added.
European market preparations are underway, with launch teams being built and a Marketing Authorisation Application filing expected in the first quarter of 2025.
Neuren is eligible for milestone payments and royalties globally, enhancing its financial position as it expands into new markets.
The company also reported advancements in its NNZ-2591 program, securing FDA alignment on its Phase 3 trial for Phelan-McDermid syndrome.
Neuren's full-year income for 2024 is projected to be between $216 million and $218 million.