ACADIA Pharmaceuticals Inc. (ACAD) has priced the public offering of its common stock at $12.50 each. The company is selling 8 million shares in the offering, and the gross proceeds to ACADIA are expected to be $100 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
The offering is expected to close on or about May 20, 2013, subject to customary closing conditions.
The company's most advanced drug candidate is Pimavanserin, which is under phase III testing for Parkinson's disease psychosis. ACADIA is currently targeting an NDA submission near the end of 2014.
ACAD has thus far hit a 52-week low of $1.30 and a 52-week high of $13.92.
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