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Biotech / Medical : ACADIA Pharmaceuticals Inc (ACAD) -- Ignore unavailable to you. Want to Upgrade?

To: mopgcw who wrote (8)	6/23/2004 9:02:37 PM
From: mopgcw	Read Replies (1) \| Respond to of 588

Acadia Pharmaceuticals Raises $35 Mln in Initial Stock Offering 2004-05-26 18:04 (New York) Acadia Pharmaceuticals Raises $35 Mln in Initial Stock Offering By Brett Cole May 27 (Bloomberg) -- Acadia Pharmaceuticals Inc., which is developing drugs to treat central nervous system disorders, raised $35 million in an initial public offering to fund research and development. Acadia, based in San Diego, California, sold 5 million shares at $7 each, compared with a price range of $7 to $8 a share indicated in a Securities and Exchange Commission filing. Banc of America Securities LLC and Piper Jaffray Cos. managed the share sale, and will share fees of $2.5 million with JMP Securities and Adams, Harkness & Hill Inc. Acadia had five drug programs in clinical and pre-clinical development including one for treatment-induced dysfunction in Parkinson's disease and another for the treatment of schizophrenia. In the three months to March 31, the company had a net loss of $6.5 million, compared with a net loss of $3.4 million in the first three months of 2003. After the IPO, Oxford Bioscience Partners IV will have a 13.7 percent stake in Acadia. The company's Chief Executive Officer, Uli Hacksell, 53, will have a 2.6 percent shareholding. Acadia's shares will trade under the symbol ``ACAD.''