SAN DIEGO—(BUSINESS WIRE)—Jan. 6, 2016—ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company
focused on the development and commercialization of innovative medicines
to address unmet medical needs in central nervous system disorders,
today announced the pricing of an underwritten public offering of
10,344,827 shares of its common stock, offered at a price to the public
of $29.00 per share. The gross proceeds from this offering to ACADIA are
expected to be approximately $300.0 million, before deducting
underwriting discounts and commissions and other estimated offering
expenses payable by ACADIA. ACADIA has granted the underwriters a 30-day
option to purchase up to an aggregate of 1,551,724 additional shares of
common 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 the
joint book-running managers for the offering. Cowen and Company, LLC is
acting as the lead manager for the offering. JMP Securities LLC, Needham
& Company, LLC, H.C. Wainwright & Co., LLC and Ladenburg Thalmann are
acting as co-managers for the offering.
The shares of common stock described above are being offered by ACADIA
pursuant to a shelf registration statement filed by ACADIA with the
Securities and Exchange Commission (SEC) that became automatically
effective on March 3, 2014. A preliminary prospectus supplement related
to the offering was filed with the SEC and is available on the SEC's
website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus related to this offering, when available, may be obtained
from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn:
Prospectus Department, Email: [email protected],
or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
866-803-9204.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development and
commercialization of innovative medicines to address unmet medical needs
in central nervous system disorders. ACADIA has a pipeline of product
candidates led by NUPLAZID™ (pimavanserin), for which we have submitted
a New Drug Application (NDA) in Parkinson’s disease psychosis to the FDA
and which has the potential to be the first drug approved in the United
States for this condition. The FDA has classified the NUPLAZID NDA as
having Priority Review status. 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 glaucoma and, in collaboration with
Allergan, Inc., for chronic pain.
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 expected proceeds and timing
of the offering of common stock by ACADIA and the potential of NUPLAZID
to be the first drug approved in the United States for Parkinson’s
disease psychosis. 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
market risks and uncertainties and the satisfaction of customary closing
conditions for an offering of securities and the risks and uncertainties
inherent in drug discovery, development, approval and commercialization.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160106006787/en/
Source: ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc.
Lisa Barthelemy, Director of
Investor Relations
(858) 558-2871