Dallas, Texas 04/28/2014 (FINANCIALSTRENDS) – ACADIA Pharmaceuticals Inc.(NASDAQ:ACAD) has announced that it will underwrite public offering to the tune of 6,400,000 shares which belong to its common stock. Each of these shares is offered at price of $28.50 per share. At the end of this offer, the company expects to see a quick asset accumulation to the tune of $182.4 million.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)is a San Diego based biopharmaceutical where the focus of the company is on the small molecule drugs therapy niche. The company has typically engaged in drug development with other main players and has been successful in building a product portfolio which allows it to be present in different sectors.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has a market capital of 1.91 billion and infra-day trading range of $19.26 low and $20.49 high. The stock began the trading session at $20.22 per share.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has an EPS of -0.44. Outstanding shares for this company are 98.89 million. Beta for this company is 3.16.
Main Product Portfolio
The company has been successful in developing drugs which are related to neurological as well as various types of disorders which are related to the central nervous systems.
Currently, the product has drugs which are in the clinical development stage. One of the first of the products in this stage is Pimavanserin. Currently Acadia Pharmaceuticals has the worldwide commecial rights for this drug. It has Phase 3 development stage, as well as first-in-class treatment for Parkinson’s diseases psychosis. Additionally, the product candidate is in Phase 2 development with respect to solutions for chronic pain.
Additionally, Pimavanserin is related to the Phase 1 development for schizophrenia. Acadia has been working with other companies such as Meiji Seika Pharma Co. Ltd, to develop effective solutions.
It has also been working with several other companies such as Allergen Inc for working on solutions for treating glaucoma.