SAN DIEGO—(BUSINESS WIRE)—Jan. 6, 2016—ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical companyfocused on the development and commercialization of innovative medicinesto address unmet medical needs in central nervous system disorders,today announced the pricing of an underwritten public offering of10,344,827 shares of its common stock, offered at a price to the publicof $29.00 per share. The gross proceeds from this offering to ACADIA areexpected to be approximately $300.0 million, before deductingunderwriting discounts and commissions and other estimated offeringexpenses payable by ACADIA. ACADIA has granted the underwriters a 30-dayoption to purchase up to an aggregate of 1,551,724 additional shares ofcommon stock. The offering is expected to close on or about January 12,2016, subject to customary closing conditions.
BofA Merrill Lynch and J.P. Morgan Securities LLC are acting as thejoint book-running managers for the offering. Cowen and Company, LLC isacting as the lead manager for the offering. JMP Securities LLC, Needham& Company, LLC, H.C. Wainwright & Co., LLC and Ladenburg Thalmann 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 related to this offering, when available, may be obtainedfrom BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn:Prospectus Department, Email: dg.prospectus_requests@baml.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 to address unmet medical needsin central nervous system disorders. ACADIA has a pipeline of productcandidates led by NUPLAZID™ (pimavanserin), for which we have submitteda New Drug Application (NDA) in Parkinson’s disease psychosis to the FDAand which has the potential to be the first drug approved in the UnitedStates for this condition. The FDA has classified the NUPLAZID NDA ashaving Priority Review status. Pimavanserin is also in Phase IIdevelopment for Alzheimer’s disease psychosis and has successfullycompleted a Phase II trial in schizophrenia. ACADIA also hasclinical-stage programs for glaucoma and, in collaboration withAllergan, Inc., for chronic pain.
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 the expected proceeds and timingof the offering of common stock by ACADIA and the potential of NUPLAZIDto be the first drug approved in the United States for Parkinson’sdisease psychosis. These statements are only predictions based oncurrent information and expectations and involve a number of risks anduncertainties. Actual events or results may differ materially from thoseprojected in any of such statements due to various factors, includingmarket risks and uncertainties and the satisfaction of customary closingconditions for an offering of securities and the risks and uncertaintiesinherent in drug discovery, development, approval and commercialization.For a discussion of these and other factors, please refer to ACADIA’sannual report on Form 10-K for the year ended December 31, 2014 as wellas 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.
Lisa Barthelemy, Director ofInvestor Relations
(858) 558-2871