Neuren Pharmaceuticals (ASX:NEU) received its first sales milestone payment of $50 million for the first year that the net sales of Rett syndrome drug Daybue exceeded $250 million in North America, according to a Friday filing with the Australian bourse.
The company's Nasdaq-listed partner Acadia Pharmaceuticals reported $348.4 million net sales of the drug in the US in 2024, the filing said.
The company will receive the second milestone payment from commercialization of the drug when net sales exceed $500 million, according to the filing.
Neuren Pharmaceuticals shares fell 6% in afternoon trade Friday.
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