When I first look at ACADIA Pharmaceuticals, I see a company that has already accomplished something many biotechnology businesses never manage to do: It has moved beyond the PowerPoint stage. ACADIA has actual products, actual revenue, and actual patients using its medicines. That may sound like a low bar until I remember how many biotechnology companies spend years discussing enormous addressable markets while producing little besides clinical-trial expenses and increasingly imaginative investor presentations. ACADIA is different. NUPLAZID has established the company in Parkinson’s disease psychosis, while DAYBUE has given it a commercial position in Rett syndrome. Those two products generated combined second-quarter 2026 revenue of approximately $308 million. Management raised its full-year revenue guidance to between $1.24 billion and $1.30 billion, including projected DAYBUE sales of $480 million to $510 million and NUPLAZID sales of $760 million to $790 million. ACADIA’s second-q...