New Issue: Acadia raises $59.4 million in follow-on of 4.95 million shares at $12 each vs. $12.72 close

By Ronda Fears

Memphis, April 28 - Acadia Pharmaceuticals, Inc. raised $59.4 million from a follow-on offering of 4,947,229 shares of common stock off the shelf priced at $12.00 each, discounted from Thursday's closing level of $12.72, via joint lead bookrunners Banc of America Securities LLC and Lehman Brothers Inc.

San Diego-based Acadia plans to use proceeds to fund ongoing and new clinical trials for ACP-103 for Parkinson's and ACP-104 for schizophrenia and other product candidates and for general corporate purposes, including working capital.

Issuer:	Acadia Pharmaceuticals, Inc.
Issue:	Follow-on stock offering
Gross proceeds:	$59.4 million
Net proceeds:	$55.6 million
Shares:	4,947,229 shares
Greenshoe:	742,084 shares
Price:	$12.00 per share
Bookrunners:	Banc of America Securities LLC and Lehman Brothers Inc.
Co-managers:	Piper Jaffray, JMP Securities and Canaccord Adams
Pricing date:	April 27
Settlement date:	May 3
Stock symbol:	Nasdaq: ACAD
Stock price:	$12.72 at close April 27

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