Life Sciences, Financing, Parkinson's Disease
Acadia Files Shelf Registration
Denise Gellene 8/10/09
San Diego’s Acadia Pharmaceuticals (NASDAQ: ACAD) has filed a shelf registration to sell up to 7 million shares at a maximum share price of $4.17. The company, which is working on a drug to treat psychotic symptoms in Parkinson’s disease patients, anticipates that the proceeds will be used for working capital and general corporate purposes. Acadia says existing cash and anticipated payments from collaborators will fund operations through the first half of 2011.
Denise Gellene is a former Los Angeles Times science writer and regular contributor to Xconomy. You can reach her at dgellene@xconomy.com
