Steve Davis Appointed Interim Chief Executive Officer
SAN DIEGO—(BUSINESS WIRE)—Mar. 11, 2015—ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company
focused on the development and commercialization of innovative medicines
that address unmet medical needs in neurological and related central
nervous system disorders, today announced that Uli Hacksell, Ph.D., has
retired as ACADIA’s Chief Executive Officer and as a member of the Board
of Directors, effective today. Steve Davis, Executive Vice President,
Chief Financial Officer and Chief Business Officer of ACADIA, has been
appointed as Interim Chief Executive Officer. Dr. Hacksell will remain
as a Special Advisor to the Company during this transition period.
ACADIA’s Board of Directors plans to initiate a search for a permanent
Chief Executive Officer.
Speaking on behalf of ACADIA’s Board of Directors, Leslie L. Iversen,
Ph.D., Chairman, stated, “Under Uli’s leadership, ACADIA has grown from
a small startup to a fast growing biopharmaceutical company with
innovative drug candidates such as NUPLAZIDTM that has the
potential to transform the treatment of psychosis in a range of
neurological and psychiatric disorders. We thank Uli for his significant
contributions to the Company over the last 16 years. His dedication,
tenacity, deep knowledge of the CNS space, and life-long passion to
deliver new drugs that can improve the lives of patients with CNS
disorders have benefited ACADIA greatly.”
Dr. Iversen continued, “Steve Davis brings over 20 years of
executive-level experience and more than 20 years of collective
experience on the boards of directors of public biopharmaceutical
companies to his role as ACADIA’s Interim Chief Executive Officer.
Steve’s strong operational experience and demonstrated leadership skills
will be important as ACADIA moves NUPLAZID towards registration and
prepares for the planned launch of NUPLAZID in the United States.”
Separately, ACADIA Pharmaceuticals issued a news release today
announcing a change in timing of its planned New Drug Application (NDA)
submission for NUPLAZID. The Company will be holding a conference call
today at 5:00 p.m. Eastern Time to discuss its planned NDA submission
and the management change.
Conference Call and Webcast Information
ACADIA management will hold a conference call and webcast today, March
11, 2015, at 5:00 p.m. Eastern Time. The conference call may be accessed
by dialing 877-280-4954 for participants in the U.S. or Canada
and 857-244-7311 for international callers (reference passcode
18127460). A telephone replay of the conference call may be accessed
through March 25, 2015 by dialing 888-286-8010 for callers in the U.S.
or Canada and 617-801-6888 for international callers (reference passcode
30031975). The conference call also will be webcast live on ACADIA’s
website, www.acadia-pharm.com,
under the investors section and will be archived there until March 25,
2015.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development and
commercialization of innovative medicines to address unmet medical needs
in neurological and related central nervous system disorders. ACADIA has
a pipeline of product candidates led by NUPLAZID (pimavanserin), for
which we have reported positive Phase III trial results in Parkinson’s
disease psychosis and which has the potential to be the first drug
approved in the United States for this disorder. Pimavanserin is also in
Phase II development for Alzheimer’s disease psychosis and has
successfully completed a Phase II trial in schizophrenia. ACADIA also
has clinical-stage programs for chronic pain and glaucoma in
collaboration with Allergan, Inc. All product candidates are small
molecules that emanate from internal discoveries. ACADIA maintains a
website at www.acadia-pharm.com
to which we regularly post copies of our press releases as well as
additional information and through which interested parties can
subscribe to receive e-mail alerts.
Forward-Looking Statements
Statements in this press release that are not strictly historical in
nature are forward-looking statements. These statements include but are
not limited to statements related to the timing of the submission of an
NDA for NUPLAZID (pimavanserin) for the treatment of Parkinson’s disease
psychosis (PDP); the potential for pimavanserin to be the first drug
approved in the United States for PDP, if approved at all; the potential
for NUPLAZID to transform the treatment of psychosis in a range of
neurological and psychiatric disorders; ACADIA’s plans to explore
NUPLAZID in indications other than PDP; the importance to ACADIA of Mr.
Davis’ experience and leadership skills as it moves NUPLAZID towards
registration and prepares for its planned launch; ACADIA’s plans to
initiate a search for a permanent Chief Executive Officer to replace Dr.
Hacksell; and the progress, timing and results of ACADIA’s drug
discovery and development programs, either alone or with a partner,
including the progress and expected timing of clinical trials, including
planned trials for pimavanserin. These statements are only predictions
based on current information and expectations and involve a number of
risks and uncertainties. Actual events or results may differ materially
from those projected in any of such statements due to various factors,
including the risks and uncertainties inherent in drug discovery,
development, approval, and commercialization, and collaborations with
others, and the fact that past results of clinical trials may not be
indicative of future trial results. For a discussion of these and other
factors, please refer to ACADIA’s annual report on Form 10-K for the
year ended December 31, 2014 as well as ACADIA’s subsequent filings with
the Securities and Exchange Commission. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date hereof. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. All
forward-looking statements are qualified in their entirety by this
cautionary statement and ACADIA undertakes no obligation to revise or
update this press release to reflect events or circumstances after the
date hereof, except as required by law.
Source: ACADIA Pharmaceuticals Inc.
Investor Contacts:
ACADIA Pharmaceuticals Inc.
Steve
Davis, Interim Chief Executive Officer
Lisa Barthelemy,
Director of Investor Relations
(858) 558-2871
or
Media
Contact:
Russo Partners
David Schull
(858)
717-2310
[email protected]