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Acadia raises $173M through stock sale

NEW YORK (AP) -- Acadia Pharmaceuticals raised $173 million after expenses through a stock sale this month.

The company completed a sale of 10.6 million shares earlier this month, and Acadia said Wednesday that the underwriters of the sale bought another 1.1 million shares from the company. Those underwriters also bought 533,000 shares from company stockholders.

Acadia received $173 million in net proceeds, including $22.7 million from the exercise of the options.

Shares of Acadia Pharmaceuticals Inc. have traded between $1.05 and $6.54 in the last year and closed at $4.55 Monday.