ACADIA Pharmaceuticals, Inc. raised $230.0 million in its follow-on offering at $33.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 909,090 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by ACADIA Pharmaceuticals, Inc. for to fund commercialization efforts for NUPLAZID, ongoing and new clinical trials and development efforts for pimavanserin, and for general corporate purposes, which may include research, development and commercialization expenses, capital expenditures, working capital, and sales, general and administrative expenses. The company may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies.
ACADIA Pharmaceuticals, Inc (NASDAQ: ACAD) is a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders.