ACADIA Pharmaceuticals Prices Public Offering of Common Stock

SAN DIEGO–(BUSINESS WIRE)–ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical company
focused on the development and commercialization of innovative medicines
to address unmet medical needs in central nervous system (CNS)
disorders, today announced the pricing of an underwritten public
offering of 16,176,471 shares of its common stock, offered at a price to
the public of $17.00 per share. The gross proceeds from this offering to
ACADIA are expected to be approximately $275.0 million, before deducting
underwriting discounts and commissions and other estimated offering
expenses payable by ACADIA. ACADIA has granted the underwriters a 30-day
option to purchase up to an aggregate of 2,426,470 additional shares of
common stock. The offering is expected to close on November 30, 2018,
subject to customary closing conditions.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Goldman Sachs Co.
LLC are acting as the joint book-running managers for the offering.
Cowen and Company, LLC is acting as lead manager and Cantor Fitzgerald
Co., JMP Securities LLC and Needham Company, LLC are acting as
co-managers for the offering.

The shares of common stock described above are being offered by ACADIA
pursuant to a shelf registration statement filed by ACADIA with the
Securities and Exchange Commission (SEC) that became automatically
effective upon filing. A preliminary prospectus supplement related to
the offering was filed with the SEC and is available on the SEC’s
website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus related to this offering, when available, may be obtained
from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@baml.com,
or from J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
(866) 803-9204, or by email to: prospectus-eq_fi@jpmchase.com,
or from Goldman Sachs Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, or by telephone at (866) 471-2526, or
by email to: prospectus-ny@nyemail.gs.com.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.

About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical
company focused on the development and commercialization of innovative
medicines to address unmet medical needs in central nervous system
disorders. ACADIA has developed and is commercializing the first and
only medicine approved for the treatment of hallucinations and delusions
associated with Parkinson’s disease psychosis. In addition, ACADIA has
ongoing clinical development efforts in additional areas with
significant unmet need, including dementia-related psychosis,
schizophrenia inadequate response, schizophrenia-negative symptoms,
major depressive disorder, and Rett syndrome.

Forward-Looking Statements
Statements in this press release
that are not strictly historical in nature are forward-looking
statements. These statements include but are not limited to statements
related to the expected proceeds and timing of the offering of common
stock by ACADIA. These statements are only predictions based on current
information and expectations and involve a number of risks and
uncertainties. Actual events or results may differ materially from those
projected in any of such statements due to various factors, including
market risks and uncertainties and the satisfaction of customary closing
conditions for an offering of securities. For a discussion of these and
other factors, please refer to ACADIA’s annual report on Form 10-K for
the year ended December 31, 2017 as well as ACADIA’s subsequent filings
with the Securities and Exchange Commission. You are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date hereof. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. All
forward-looking statements are qualified in their entirety by this
cautionary statement and ACADIA undertakes no obligation to revise or
update this press release to reflect events or circumstances after the
date hereof, except as required by law.

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