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ACADIA Pharmaceuticals Inc. Message Board

  • fastmoneypete fastmoneypete Mar 25, 2013 5:23 PM Flag

    The $87 mil private placement in December added to existing $21 mil cash will find operations for at least 3 years:

    From Acadia Pharmaceuticals Q4 earnings press release on March 12. 2013:
    "At December 31, 2012, ACADIA’s cash, cash equivalents, and investment securities totaled $108.0 million compared to $31.0 million at December 31, 2011. This increase was primarily due to $98.2 million in net proceeds from sales of equity securities, including $80.5 million raised in an equity financing in December as well as earlier financings completed by ACADIA, offset in part by cash used to fund ACADIA’s operations.
    We expect to use between $26 million and $30 million of our cash resources to fund operations for the year ending December 31, 2013. These resources are expected to be used primarily for ongoing and planned development activities for pimavanserin."

 
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