SAN DIEGO—(BUSINESS WIRE)—Mar. 4, 2014—ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) today announced the pricingof an underwritten public offering of 6,400,000 shares of its commonstock, offered at a price to the public of $28.50 per share. The grossproceeds from this offering to ACADIA are expected to be $182.4 million,before deducting underwriting discounts and commissions and otherestimated offering expenses payable by ACADIA. ACADIA has granted theunderwriters a 30-day option to purchase up to an aggregate of 960,000shares of common stock. The offering is expected to close on or aboutMarch 10, 2014, subject to customary closing conditions. ACADIA expectsto use net proceeds of this offering to fund ongoing and new clinicaltrials and development and commercialization efforts for pimavanserinand its other product candidates and for general corporate purposes,which may include research, development and commercialization expenses,capital expenditures, working capital, and general and administrativeexpenses.
Jefferies LLC and J.P. Morgan Securities LLC are acting as the jointbook-running managers for the offering. Cowen and Company, LLC is actingas the lead manager for the offering. JMP Securities LLC, Needham &Company, LLC, Ladenburg Thalmann & Co., and Roth Capital Partners areacting as co-managers for the offering.
The shares of common stock described above are being offered by ACADIApursuant to a shelf registration statement filed by ACADIA with theSecurities and Exchange Commission (SEC) that became automaticallyeffective on March 3, 2014. A preliminary prospectus supplement relatedto the offering was filed with the SEC and is available on the SEC'swebsite located at http://www.sec.gov.Copies of the final prospectus supplement and the accompanyingprospectus relating to this offering, when available, may be obtainedfrom Jefferies LLC, Attention: Equity Syndicate Prospectus Department,520 Madison Avenue, 12th floor, New York, NY 10022 or by telephone at877-547-6340 or by email at Prospectus_Department@Jefferies.com,or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at866-803-9204.
This press release shall not constitute an offer to sell or thesolicitation of an offer to buy these securities, nor shall there be anysale of these securities in any state or other jurisdiction in whichsuch offer, solicitation or sale would be unlawful prior to theregistration or qualification under the securities laws of any suchstate or other jurisdiction.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development andcommercialization of innovative medicines that address unmet medicalneeds in neurological and related central nervous system disorders.ACADIA has a pipeline of product candidates led by pimavanserin, whichis in Phase III development as a treatment for Parkinson's diseasepsychosis. Pimavanserin is also in Phase II development for Alzheimer’sdisease psychosis and has successfully completed a Phase II trial as aco-therapy for schizophrenia. ACADIA also has clinical-stage programsfor chronic pain and glaucoma in collaboration with Allergan, Inc. andtwo advanced preclinical programs directed at Parkinson’s disease andother neurological disorders. All product candidates are small moleculesthat emanate from internal discoveries.
Forward-Looking Statements
Statements in this press release that are not strictly historical innature are forward-looking statements. These statements include but arenot limited to statements related to expectations regarding thecompletion, timing and size of the offering of common stock by ACADIA,the expected gross and net proceeds from the offering and ACADIA’sexpected use of the net proceeds from the offering. These statements areonly predictions based on current information and expectations andinvolve a number of risks and uncertainties. Actual events or resultsmay differ materially from those projected in any of such statements dueto various factors, including market risks and uncertainties and thesatisfaction of customary closing conditions for an offering ofsecurities. For a discussion of these and other factors, please refer toACADIA’s annual report on Form 10-K for the year ended December 31, 2013as well as ACADIA’s subsequent filings with the Securities and ExchangeCommission. You are cautioned not to place undue reliance on theseforward-looking statements, which speak only as of the date hereof. Thiscaution is made under the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. All forward-looking statementsare qualified in their entirety by this cautionary statement and ACADIAundertakes no obligation to revise or update this press release toreflect events or circumstances after the date hereof, except asrequired by law.
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Thomas H. Aasen, ExecutiveVice President,
Chief Financial Officer and Chief BusinessOfficer
Lisa Barthelemy, Director of Investor Relations
858-558-2871