Neuren Forecasts Strong FY24 Revenue and Gains from U.S. Partnership

Biopharmaceutical company Neuren Pharmaceuticals Limited (ASX: NEU) has projected FY2024 revenue between AU$216 million and AU$218 million, as outlined in its recent third-quarter update. The company anticipates additional benefits from New Zealand tax credits, which are expected to add approximately AU$17 million this year.

At the time of writing, Neuren also noted promising developments from its U.S. partner, Acadia Pharmaceuticals, which reported AU$251.7 million USD ($383.2 million AUD) in year-to-date sales for the neurological treatment, Daybue. Acadia has adjusted its FY24 sales guidance to between $340 million and AU$350 million USD, from which Neuren receives a share. This partnership significantly boosts Neuren's revenue outlook, strengthening its position in the neurology market and supporting continued growth.

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