ACADIA Pharmaceuticals Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

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 closing of its previously announced
underwritten public offering of 18,602,941 shares of its common stock,
including 2,426,470 shares of common stock sold pursuant to the
underwriters’ full exercise of their option to purchase additional
shares, at a public offering price of $17.00 per share. The gross
proceeds from the offering to ACADIA, before deducting underwriting
discounts and commissions and other estimated offering expenses payable
by ACADIA, are approximately $316.2 million.

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

The shares of common stock described above were 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 final prospectus supplement and accompanying
prospectus related to the offering were filed with the SEC and are
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 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.

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