• Profit after tax of A$142.0 million, down 10% from 2023
• Total income of A$227.8 million, including A$213.2 million from Acadia Pharmaceuticals
• Strong performance of trofinetide (DAYBUE) with US sales exceeding US$250 million

Neuren Pharmaceuticals Limited reported its financial results for the year ended 31 December 2024. Total comprehensive income for shareholders was A$166.2 million, comprising A$142.0 million profit after tax and A$24.2 million foreign currency translation gain. Total income of A$227.8 million in 2024 includes A$213.2 million earned under the licence agreement with Acadia Pharmaceuticals. This comprised quarterly royalty income of A$56.2 million (2023: A$26.8 million), milestone revenue of A$80.5 million (2023: A$59.4 million) and A$76.5 million as Neuren's one third share of the net proceeds of the Rare Disease Priority Review Voucher sold by Acadia. The milestone revenue for 2024 was earned on achievement of the first in a series of four thresholds of total annual net sales of DAYBUE (trofinetide), due to net sales for the year exceeding US$250 million. Research and development costs increased by A$6.2 million, due to higher expenditure relating to the NNZ-2591 Phase 2 clinical trials and the foundational work to prepare for Phase 3 development of NNZ-2591 across multiple indications. Corporate and administrative costs decreased by A$1.2 million, mainly due to bonuses paid in 2023 following the marketing authorisation of DAYBUE by the US Food and Drug Administration. Income tax expense for 2024 was A$40.9 million (2023: A$48.1 million), reduced by the recognition of previously unrecognised New Zealand tax losses.

Acadia Pharmaceuticals has provided guidance for full-year net sales of DAYBUE (trofinetide) in 2025 of US$380-405 million. Assuming this guidance is met and an exchange rate of 0.65, Neuren anticipates earning royalties of A$62-67 million.