ACAD ACADIA Pharmaceuticals Inc.

47.31
-1.38  -3%
Previous Close 48.69
Open 48.29
52 Week Low 30.02
52 Week High 58.72
Market Cap $7,521,253,296
Shares 158,978,087
Float 91,209,483
Enterprise Value $7,312,329,047
Volume 1,189,946
Av. Daily Volume 912,510
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Upcoming Catalysts

Drug Stage Catalyst Date
Pimavanserin - Harmony
Alzheimer’s disease psychosis
PDUFA
PDUFA
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Trofinetide (LAVENDER)
Rett Syndrome
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
ACP-044
Pain
Phase 2
Phase 2
Phase 2 trial to be initiated 1H 2021.
Pimavanserin - Advance-2
Adjunctive treatment in patients with negative symptoms of schizophrenia
Phase 3
Phase 3
Phase 3 trial initiated 3Q 2020.
Pimavanserin - CLARITY-2 and CLARITY-3
Adjunctive Treatment in Patients With Major Depressive Disorder
Phase 3
Phase 3
Phase 3 trial did not meet primary endpoint - July 20, 2020.
Pimavanserin - Enhance
Adjunctive treatment of schizophrenia
Phase 3
Phase 3
Phase 3 data did not meet primary endpoint - July 22, 2019.
Pimavanserin
Parkinson’s disease psychosis (PDP)
Approved
Approved
Approved April 29 2016. Additional dose approval announced June 29, 2018.
Pimavanserin - SERENE
Alzheimer’s disease agitation
Phase 2
Phase 2
Announced October 4, 2017 that trial will be discontinued.

Latest News

  1. - Full year 2020 net sales grew to $441.8 million, a 30% increase over 2019

    - Upcoming PDUFA action date of April 3, 2021 for supplemental New Drug Application for pimavanserin for the treatment of hallucinations and delusions associated with dementia-related psychosis

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced financial results for the fourth quarter and full year ended December 31, 2020.

    "Acadia delivered strong financial results in the fourth quarter and full year 2020, driven by robust sales of NUPLAZID in Parkinson's disease psychosis. Additionally, we made significant advancements in two Phase 3 programs and further expanded our pipeline in pain and neuropsychiatry through strategic business development," said Steve…

    - Full year 2020 net sales grew to $441.8 million, a 30% increase over 2019

    - Upcoming PDUFA action date of April 3, 2021 for supplemental New Drug Application for pimavanserin for the treatment of hallucinations and delusions associated with dementia-related psychosis

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced financial results for the fourth quarter and full year ended December 31, 2020.

    "Acadia delivered strong financial results in the fourth quarter and full year 2020, driven by robust sales of NUPLAZID in Parkinson's disease psychosis. Additionally, we made significant advancements in two Phase 3 programs and further expanded our pipeline in pain and neuropsychiatry through strategic business development," said Steve Davis, Chief Executive Officer. "In 2021, we are focused on delivering continued growth of NUPLAZID, the upcoming potential approval and launch of pimavanserin for dementia-related psychosis and advancing our business development strategy."

    Company Highlights

    • Upcoming PDUFA (Prescription Drug User Fee Act) date of April 3, 2021 for supplemental New Drug Application for pimavanserin for the treatment of hallucinations and delusions associated with dementia-related psychosis.
    • Top-line results from Phase 3 LAVENDER study evaluating trofinetide for the treatment of Rett syndrome expected in the fourth quarter of 2021.
    • Two Phase 2 clinical studies evaluating ACP-044, a novel, first-in-class, orally administered, non-opioid analgesic, in acute and chronic pain to commence in first half of 2021. A bunionectomy study is expected to initiate in the first quarter of 2021 and an osteoarthritis study is expected to initiate in the second quarter of 2021.
    • In November 2020, the FDA approved a label update to allow the NUPLAZID capsule to be sprinkled on certain foods. This is an important feature for patients who take oral medications and may have difficulty swallowing; a potential issue for Parkinson's disease patients and in the elderly in general.
    • Kathie Bishop, Ph.D., joined Acadia as Senior Vice President, Head of Rare Disease and Diann Potestio joined Acadia as Senior Vice President, Market Access, Reimbursement and Channel Strategy.

    Financial Results

    Revenue

    Net sales of NUPLAZID® (pimavanserin) were $121.0 million for the fourth quarter of 2020, an increase of 23% as compared to $98.3 million reported for the fourth quarter of 2019. For the years ended December 31, 2020 and 2019, Acadia reported net product sales of $441.8 million and $339.1 million, respectively, an increase of 30% year-over-year.

    Research and Development

    Research and development expenses for the fourth quarter of 2020 were $62.1 million, compared to $57.5 million for the same period of 2019. For the years ended December 31, 2020 and 2019, research and development expenses were $319.1 million and $240.4 million, respectively. The increase in full year 2020 was primarily due to the upfront expenses of $52.8 million related to the acquisition of CerSci Therapeutics and a $10.0 million upfront payment to Vanderbilt University related to the license agreement and collaboration for novel therapeutic programs targeting muscarinic M1 receptors.

    Selling, General and Administrative

    Selling, general and administrative expenses for the fourth quarter of 2020 were $120.8 million, compared to $91.9 million for the same period of 2019. For the years ended December 31, 2020 and 2019, selling, general and administrative expenses were $388.7 million and $325.6 million, respectively. This increase during the 2020 period as compared to 2019 was primarily due to increased advertising and promotional costs, dementia-related psychosis launch preparation expenses, as well as an increase in personnel and related costs.

    Net Loss

    For the fourth quarter of 2020, Acadia reported a net loss of $66.8 million, or $0.42 per common share, compared to a net loss of $53.0 million, or $0.34 per common share, for the same period in 2019. The net losses for the fourth quarters of 2020 and 2019 included $21.2 million and $19.8 million, respectively, of non-cash stock-based compensation expense. For the year ended December 31, 2020, Acadia reported a net loss of $281.6 million, or $1.79 per common share, compared to a net loss of $235.3 million, or $1.60 per common share, for the same period in 2019. The net losses for the years ended December 31, 2020 and 2019 included $84.4 million and $82.3 million, respectively, of non-cash stock-based compensation expense.

    Cash and Investments

    At December 31, 2020, Acadia's cash, cash equivalents, and investment securities totaled $632.0 million, compared to $697.4 million at December 31, 2019.

    2021 Financial Guidance

    • Net sales guidance for NUPLAZID in Parkinson's disease psychosis (PDP) of $510 to $550 million. As this is the potential launch year for dementia-related psychosis (DRP), the Company is not including revenue projections for DRP in 2021 net sales guidance.
    • GAAP R&D guidance of $300 to $320 million reflects the progression of candidates in five clinical indications this year. This guidance includes approximately $30 million of share-based compensation expense.
    • GAAP SG&A guidance of $560 to $590 million reflects a similar level of investment to 2020 in PDP activities, together with additional investments associated with a potential DRP launch. This guidance includes approximately $60 million of share-based compensation expense.

    Conference Call and Webcast Information

    Acadia management will review its fourth quarter and full year 2020 financial results and operations via conference call and webcast today at 4:30 p.m. Eastern Time. The conference call may be accessed by dialing 855-638-4820 for participants in the United States or Canada and 443-877-4067 for international callers (reference passcode 9576845). A telephone replay of the conference call may be accessed through March 10, 2021 by dialing 855-859-2056 for callers in the United States or Canada and 404-537-3406 for international callers (reference passcode 9576845). 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 through March 24, 2021.

    About NUPLAZID® (pimavanserin)

    NUPLAZID is the first and only FDA-approved treatment for hallucinations and delusions associated with Parkinson's disease psychosis. NUPLAZID is a selective serotonin inverse agonist/antagonist preferentially targeting 5-HT2A receptors that are thought to play an important role in Parkinson's disease psychosis. NUPLAZID is an oral medicine taken once a day with a recommended dose of 34 mg. NUPLAZID is not FDA-approved for dementia-related psychosis, schizophrenia, major depressive disorder, or depressive symptoms in patients with Parkinson's disease. Acadia discovered and developed this new chemical entity and holds worldwide rights to develop and commercialize NUPLAZID.

    About Trofinetide

    Trofinetide is an investigational drug. It is a novel synthetic analog of the amino-terminal tripeptide of IGF-1 designed to treat the core symptoms of Rett syndrome by potentially reducing neuroinflammation and supporting synaptic function. In the central nervous system, IGF-1 is produced by both of the major types of brain cells – neurons and glia. IGF-1 in the brain is critical for both normal development and for response to injury and disease. Trofinetide has been granted Fast Track Status and Orphan Drug Designation in the U.S. and Orphan Drug Designation in Europe for both Rett syndrome and Fragile X syndrome.

    About Acadia Pharmaceuticals

    Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn.

    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 potential opportunity for future growth in sales of NUPLAZID; the timing of ongoing and future clinical studies for pimavanserin; the development and commercialization of trofinetide; and guidance for full-year 2021 NUPLAZID net sales for Parkinson's disease psychosis only and certain expense line items. 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 uncertainty of future commercial sales and related items that would impact net sales during 2021, the risks and uncertainties inherent in drug development, approval and commercialization, 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, 2019 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.

    ACADIA PHARMACEUTICALS INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except per share amounts)

    (Unaudited)

     

     

    Three Months Ended December 31,

     

     

    Years Ended December 31,

     

     

     

    2020

     

     

    2019

     

     

    2020

     

     

    2019

     

    Revenues

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Product sales, net

     

    $

    121,007

     

     

    $

    98,326

     

     

    $

    441,755

     

     

    $

    339,076

     

    Total revenues

     

     

    121,007

     

     

     

    98,326

     

     

     

    441,755

     

     

     

    339,076

     

    Operating expenses

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cost of product sales, license fees and royalties (1)

     

     

    5,301

     

     

     

    5,334

     

     

     

    20,550

     

     

     

    19,598

     

    Research and development (1)

     

     

    62,116

     

     

     

    57,520

     

     

     

    319,130

     

     

     

    240,385

     

    Selling, general and administrative (1)

     

     

    120,752

     

     

     

    91,871

     

     

     

    388,661

     

     

     

    325,638

     

    Total operating expenses

     

     

    188,169

     

     

     

    154,725

     

     

     

    728,341

     

     

     

    585,621

     

    Loss from operations

     

     

    (67,162

    )

     

     

    (56,399

    )

     

     

    (286,586

    )

     

     

    (246,545

    )

    Interest income, net

     

     

    554

     

     

     

    3,272

     

     

     

    6,610

     

     

     

    11,165

     

    Other income (expense)

     

     

    265

     

     

     

    491

     

     

     

    (997

    )

     

     

    997

     

    Loss before income taxes

     

     

    (66,343

    )

     

     

    (52,636

    )

     

     

    (280,973

    )

     

     

    (234,383

    )

    Income tax (benefit) expense

     

     

    417

     

     

     

    400

     

     

     

    611

     

     

     

    876

     

    Net loss

     

    $

    (66,760

    )

     

    $

    (53,036

    )

     

    $

    (281,584

    )

     

    $

    (235,259

    )

    Net loss per common share, basic and diluted

     

    $

    (0.42

    )

     

    $

    (0.34

    )

     

    $

    (1.79

    )

     

    $

    (1.60

    )

    Weighted average common shares outstanding, basic and diluted

     

     

    159,263

     

     

     

    154,492

     

     

     

    157,331

     

     

     

    147,199

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    (1) Includes the following share-based compensation expenses

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cost of product sales, license fees and royalties

     

    $

    545

     

     

    $

    592

     

     

    $

    2,632

     

     

    $

    2,936

     

    Research and development

     

    $

    7,669

     

     

    $

    8,072

     

     

    $

    31,314

     

     

    $

    32,533

     

    Selling, general and administrative

    $

    12,981

     

    $

    11,099

     

    $

    50,476

     

    $

    46,796

    ACADIA PHARMACEUTICALS INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands)

     

     

     

    December 31,

    2020

     

     

    December 31,

    2019

     

     

     

    (unaudited)

     

     

     

     

     

    Assets

     

     

     

     

     

     

     

     

    Cash, cash equivalents and investment securities

     

    $

    631,958

     

     

    $

    697,429

     

    Accounts receivable, net

     

     

    48,247

     

     

     

    35,781

     

    Interest and other receivables

     

     

    2,035

     

     

     

    2,093

     

    Inventory

     

     

    9,682

     

     

     

    6,341

     

    Prepaid expenses

     

     

    25,694

     

     

     

    18,606

     

    Total current assets

     

     

    717,616

     

     

     

    760,250

     

    Property and equipment, net

     

     

    9,161

     

     

     

    3,180

     

    Operating lease right-of-use assets

     

     

    47,283

     

     

     

    9,524

     

    Intangible assets, net

     

     

    1,108

     

     

     

    2,585

     

    Restricted cash

     

     

    5,770

     

     

     

    4,787

     

    Other assets

     

     

    1,678

     

     

     

    2,857

     

    Total assets

     

    $

    782,616

     

     

    $

    783,183

     

    Liabilities and stockholders' equity

     

     

     

     

     

     

     

     

    Accounts payable

     

    $

    8,493

     

     

    $

    7,222

     

    Accrued liabilities

     

     

    97,474

     

     

     

    67,604

     

    Total current liabilities

     

     

    105,967

     

     

     

    74,826

     

    Operating lease liabilities

     

     

    44,460

     

     

     

    6,361

     

    Long-term liabilities

     

     

    5,180

     

     

     

    2,861

     

    Total liabilities

     

     

    155,607

     

     

     

    84,048

     

    Total stockholders' equity

     

     

    627,009

     

     

     

    699,135

     

    Total liabilities and stockholders' equity

     

    $

    782,616

     

     

    $

    783,183

     

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  2. -  Educational resources help caregivers of the estimated 2.4 million people living with dementia-related hallucinations and delusions identify and discuss symptoms

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced the launch of MoreThanMemoryLoss.com, a new website with educational resources designed to help caregivers and people living with dementia to learn more about dementia-related hallucinations and delusions.

    "As a leading, national caregiver organization, we hear from dementia caregivers every day about the challenges they experience caring for loved ones with behavioral symptoms of dementia. This new resource provides information and support to address these symptoms that can have a devastating impact on families," said…

    -  Educational resources help caregivers of the estimated 2.4 million people living with dementia-related hallucinations and delusions identify and discuss symptoms

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced the launch of MoreThanMemoryLoss.com, a new website with educational resources designed to help caregivers and people living with dementia to learn more about dementia-related hallucinations and delusions.

    "As a leading, national caregiver organization, we hear from dementia caregivers every day about the challenges they experience caring for loved ones with behavioral symptoms of dementia. This new resource provides information and support to address these symptoms that can have a devastating impact on families," said John Schall, Chief Executive Officer, Caregiver Action Network.

    MoreThanMemoryLoss.com was developed following extensive caregiver research and input from advocacy organizations. The site offers educational and actionable resources for visitors, including a doctor discussion guide, a dementia-related hallucinations and delusions fact sheet and an adapted personal story from a caregiver coping with a loved one's experience of these symptoms.

    Dementia affects 8 million people in the U.S. and its prevalence is expected to increase as the population ages.1-4 Approximately 30 percent, or 2.4 million people in the U.S., experience dementia-related psychosis and only half of them, or 1.2 million, are diagnosed.1,5 Symptoms of dementia-related psychosis include hallucinations, when someone experiences things that are not there, such as seeing or hearing things that others do not and delusions, when someone believes things that are not true, such as people are talking about you (paranoia), or fear that someone is stealing from you. These symptoms are also very distressing for family and caregivers and may be associated with increased risk of aggressive behavior in dementia patients.6 Hallucinations and delusions can cause a person to lose touch with reality, and their loved ones to lose touch with them.

    "Caregivers often believe their job is to protect the image of their loved one and to hide the symptoms of dementia-related psychosis from others," said Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer, at Acadia Pharmaceuticals. "MoreThanMemoryLoss.com is an educational resource dedicated to providing caregivers with information and tools needed to start important conversations about dementia-related hallucinations and delusions with their loved one's healthcare providers."

    Visit https://www.morethanmemoryloss.com to learn more, and sign up for additional educational resources.

    About Dementia-Related Psychosis

    Approximately 8 million people in the United States are living with dementia, a condition with a core feature of declining cognition (changes in memory, decision-making abilities, language, etc.) resulting in functional impairment. Dementia is a manifestation of an underlying condition which is often progressive and neurodegenerative in nature.7 In addition to cognitive decline, dementing illnesses almost universally lead to neuropsychiatric symptoms, including hallucinations, delusions, and changes in behavior.

    It is estimated that 2.4 million Americans (or 30% of people with dementia) experience dementia-related hallucinations and delusions. These symptoms may be frequent and severe and may recur over time. A hallucination is defined as a perception-like experience that occurs without an external stimulus and is sensory (seen, heard, felt, tasted, sensed) in nature. A delusion is defined as a false, fixed belief that is resolutely held despite evidence to the contrary. Dementia-related psychosis occurs in many types of dementia, including Alzheimer's disease, dementia with Lewy bodies, Parkinson's disease dementia, vascular dementia, and frontotemporal dementia. Serious consequences have been associated with psychosis in patients with dementia, such as repeated hospital admissions, increased likelihood of nursing home placement, progression of dementia, and increased risk of morbidity and mortality.8

    About Acadia Pharmaceuticals

    Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn.

    References

    1Plassman BL, Langa KM, Fisher GG, et al. Prevalence of dementia in the United States: the aging, demographics, and memory study. Neuroepidemiology. 2007;29(1-2):125-132.

    2Goodman RA, Lochner KA, Thambisetty M, et al. Prevalence of dementia subtypes in United States Medicare fee—for—service beneficiaries, 2011—2013. Alzheimers Dement. 2017;13(1):28—37.

    3Hebert LE, Weuve J, Scherr PA, et al. Alzheimer disease in the United States (2010-2050) estimated using the 2010 census. Neurology. 2013;80(19):1778-1783.

    4Alzheimer's Association. 2020 Alzheimer's disease facts and figures. Alzheimer's Dement. 2020;16(3):391-485

    52017 Alzheimer's Disease Facts and Figures and Acadia market research.

    6Lopez O, et al. Psychiatric symptoms vary with the severity of dementia in probable Alzheimer's disease. J Neuropsychiatry Clin Neurosci. 2003;153:346-353.

    7Dementia. (2019, September 19). Retrieved from https://www.who.int/news-room/fact-sheets/detail/dementia.

    8Connors MH et al. Am J Geriatr Psychiatry 2018;26(3). Peters ME et al. Am J Psychiatry 2015;172(5). Haupt M et al. Int J Geriatr Psychiatry 1996;11(11). Naimark D et al. J Am Geriatr Soc 1996;44(3). Stern Y et al. Neurology 1994;44(12).

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  3. Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that it will participate at the following investor conferences:

    10th Annual SVB Leerink Global Healthcare Conference
    Fireside Chat Presentation: Friday, February 26, 2021 at 10:40 a.m. Eastern Time

    Cowen 41st Annual Health Care Conference
    Fireside Chat Presentation: Monday, March 1, 2021 at 12:20 p.m. Eastern Time

    These conferences will be held virtually. Live webcasts of the presentations will be accessible on the company's website, www.acadia-pharm.com, under the investors section and an archived recording will be available on the website for approximately one month following each presentation.

    About Acadia Pharmaceuticals
    Acadia is trailblazing breakthroughs in neuroscience to…

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that it will participate at the following investor conferences:

    10th Annual SVB Leerink Global Healthcare Conference

    Fireside Chat Presentation: Friday, February 26, 2021 at 10:40 a.m. Eastern Time

    Cowen 41st Annual Health Care Conference

    Fireside Chat Presentation: Monday, March 1, 2021 at 12:20 p.m. Eastern Time

    These conferences will be held virtually. Live webcasts of the presentations will be accessible on the company's website, www.acadia-pharm.com, under the investors section and an archived recording will be available on the website for approximately one month following each presentation.

    About Acadia Pharmaceuticals

    Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn.

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  4. Company to host conference call and webcast on Wednesday, February 24, 2021, at 4:30 p.m. Eastern Time

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that it will report fourth quarter and full year 2020 financial results on Wednesday, February 24, 2021, after the close of the U.S. financial markets. Acadia's management team will also host a conference call and webcast on February 24, 2021, at 4:30 p.m. Eastern Time to discuss financial results and operations.

    The conference call may be accessed by dialing 855-638-4820 for participants in the United States or Canada and 443-877-4067 for international callers (reference passcode 9576845). A telephone replay of the conference call may be accessed through March 10, 2021 by dialing…

    Company to host conference call and webcast on Wednesday, February 24, 2021, at 4:30 p.m. Eastern Time

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that it will report fourth quarter and full year 2020 financial results on Wednesday, February 24, 2021, after the close of the U.S. financial markets. Acadia's management team will also host a conference call and webcast on February 24, 2021, at 4:30 p.m. Eastern Time to discuss financial results and operations.

    The conference call may be accessed by dialing 855-638-4820 for participants in the United States or Canada and 443-877-4067 for international callers (reference passcode 9576845). A telephone replay of the conference call may be accessed through March 10, 2021 by dialing 855-859-2056 for callers in the United States or Canada and 404-537-3406 for international callers (reference passcode 9576845). 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 24, 2021.

    About Acadia Pharmaceuticals

    Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn.

    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 regarding the timing of future events. 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 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, 2019 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.

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  5. Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that Michael Yang, Executive Vice President and Chief Commercial Officer, will be leaving the organization effective January 29, 2021 to assume the role of chief executive officer at another healthcare company. Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer and Amanda Morgan, Senior Vice President, Chief Revenue and Customer Officer, will lead the commercial organization.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210127005903/en/

    Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer (Photo: Business Wire)

    Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer (Photo: Business Wire)

    "On behalf of the entire management…

    Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) today announced that Michael Yang, Executive Vice President and Chief Commercial Officer, will be leaving the organization effective January 29, 2021 to assume the role of chief executive officer at another healthcare company. Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer and Amanda Morgan, Senior Vice President, Chief Revenue and Customer Officer, will lead the commercial organization.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210127005903/en/

    Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer (Photo: Business Wire)

    Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer (Photo: Business Wire)

    "On behalf of the entire management team and our employees, I want to thank Michael for his significant contributions and we wish him well in his future endeavors," said Steve Davis, Chief Executive Officer. "Amanda and Charmaine have been the foundation of our commercial success and I look forward to their continued leadership."

    Charmaine Lykins, Senior Vice President, Global Product Planning and Chief Marketing Officer

    Charmaine Lykins is Senior Vice President, Global Product Planning and Chief Marketing Officer and leads Acadia's healthcare professional and consumer marketing, marketing operations and new product planning functions. She joined the company in 2018 as Vice President, Marketing and in 2019 was promoted to Senior Vice President and became a member of the company's Executive Management Committee.

    Ms. Lykins has over 25 years of global experience commercializing healthcare brands, including 10 product launches representing first-in-class therapies for central nervous system disorders. She led the U.S. launch teams for REXULTI® in depression and schizophrenia, prelaunch readiness for ABILIFY MAINTENA® in bipolar disorder, and ZIPSOR® for acute pain. Ms. Lykins also led commercial launch strategies for LATUDA® in bipolar depression and schizophrenia, CYMBALTA® for depression and diabetic neuropathic pain, and ZYPREXA® for bipolar depression and treatment resistant depression in combination with fluoxetine.

    Prior to joining Acadia, Ms. Lykins served as Global Vice President of Marketing at Lundbeck. Prior to Lundbeck she held global marketing leadership roles at Sunovion and U.S. marketing and sales leadership roles at Eli Lilly. Her career experience includes strategic commercialization roles in Europe, Asia, and the Middle East, as well as in research and development.

    Ms. Lykins has an MBA with an emphasis in international business from the Darla Moore School of Business at University of South Carolina, and bachelor's degrees in chemistry and honors humanities from Ball State University.

    Amanda Morgan, Senior Vice President, Chief Revenue and Customer Officer

    Amanda Morgan is Senior Vice President, Chief Revenue and Customer Officer and leads Acadia's neuroscience, long-term care, national accounts, and health systems. She joined the company in 2017 as Vice President, Sales and Market Access and in 2019 was promoted to Senior Vice President and became a member of the company's Executive Management Committee.

    Ms. Morgan has over 20 years of experience in developing high-performing cultures and teams in the healthcare industry. Prior to joining Acadia, she was the U.S. Head of Patient Services at Baxalta where she was responsible for launching the patient services organization that supported more than $6 billion dollars in revenue. Prior to Baxalta, she was U.S. Area Vice President at Baxter leading the hospital and healthcare sales teams overseeing market expansion, supplemental indications, and new product launch strategies.

    Throughout her career, Ms. Morgan has held leadership roles with increasing responsibility in marketing, sales, market access, patient services and operations in multiple therapeutic areas. She has a strong track record of executing commercial strategies in neuroscience, immunology, hematology, and oncology, as well as in rare diseases.

    Ms. Morgan earned her Bachelor of Science degree in Business Administration, Marketing from The University of Iowa.

    About Acadia Pharmaceuticals

    Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn.

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