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Acadia Pharmaceuticals announces equity financing

Acadia Pharmaceuticals Inc. announced a private placement equity financing and will receive gross proceeds of $86.4 million from the sale of its securities.

The biopharmaceutical company (Nasdaq: ACAD) is focused on treatments for neurological and related central nervous system disorders.

Shares of Acadia’s common stock will be sold at $4.43 per share, the closing market price on Dec. 11.

The private placement is expected to close on Dec. 17 and is subject to the satisfaction of customary closing conditions.

The anticipated proceeds from the private placement will be used primarily to support completion of Acadia’s phase 3 pimavanserin program, including its planned confirmatory phase 3 pivotal trial in Parkinson’s disease psychosis.

Jefferies & Company Inc. and Cowen and Company LLC acted as joint lead placement agents, and JMP Securities LLC acted as co-placement agent in the transaction.

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Acadia Pharmaceuticals Inc.

Company Website

3911 Sorrento Valley Blvd.
San Diego, CA 92121

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
ACAD
33.69
  -0.66  
- 1.92%
1,139,808,000
51.99
24.04

Insider Trade Data

Date Insider Shares Type Value
08/19/2015 Iversen, Leslie L 8,500 Exchange $93,500
08/11/2015 Kaplan, Lester J 8,500 Exchange $93,500
06/01/2015 Iversen, Leslie L 14,127 Exchange $125,024
06/01/2015 Iversen, Leslie L 14,127 Exchange $125,024
02/17/2015 Rasmussen, Torsten 19,847 Sell $695,544

Acadia Pharmaceuticals Inc. Executive(s):

Uli Hacksell

  • Chief Executive Officer, President

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NAICS - 541711 - Research and Development in Biotechnology