ACADIA Pharmaceuticals Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ACADIA Pharmaceuticals Inc. has filed its Q1 2024 10-Q report, detailing financial performance and business operations.</b>

AI Summary

ACADIA PHARMACEUTICALS INC (ACAD) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. ACADIA Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data and business updates for the first quarter of 2024. Key dates mentioned include March 31, 2024, and December 31, 2023, for financial reporting. The company is involved in the Pharmaceutical Preparations industry (SIC code 2834). The filing references various financial instruments and expense categories, including Research and Development.

Why It Matters

For investors and stakeholders tracking ACADIA PHARMACEUTICALS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial statements and operational details for ACADIA Pharmaceuticals Inc., crucial for understanding the company's current health and future prospects. The detailed financial information, including revenue, expenses, and balance sheet items, allows for a comprehensive analysis of the company's performance in the first quarter of 2024 and comparison to prior periods.

Risk Assessment

Risk Level: medium — ACADIA PHARMACEUTICALS INC shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report. However, the pharmaceutical industry is subject to significant regulatory and market risks that are not detailed in this header information.

Analyst Insight

Review the full 10-Q filing to understand the specific financial results, operational developments, and risk factors for ACADIA Pharmaceuticals Inc. in Q1 2024.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 2023-03-31 — Prior Year Period End Date (Comparative financial reporting)
• 2023-12-31 — Prior Year End Date (Balance sheet reporting)

Key Players & Entities

• ACADIA PHARMACEUTICALS INC (company) — FILER
• ACAD (company) — Ticker Symbol
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE
• 2834 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• 0000950170-24-056077 (filing_id) — ACCESSION NUMBER
• Stoke Therapeutics Inc (company) — Mentioned in context of R&D expense
• Neuren Pharmaceuticals Limited (company) — Mentioned in context of license agreements

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

Research and Development Expense

Costs incurred by a company in the process of discovering new knowledge and developing new products or processes. (Indicates investment in future growth and innovation, particularly relevant for pharmaceutical companies.)

Key Financial Figures

• $0.0001 — ch Registered Common Stock, par value $0.0001 per share ACAD The Nasdaq Stock Mar

Filing Documents

• acad-20240331.htm (10-Q) — 1553KB
• acad-ex10_1.htm (EX-10.1) — 65KB
• acad-ex10_2.htm (EX-10.2) — 91KB
• acad-ex10_3.htm (EX-10.3) — 171KB
• acad-ex31_1.htm (EX-31.1) — 10KB
• acad-ex31_2.htm (EX-31.2) — 11KB
• acad-ex32_1.htm (EX-32.1) — 7KB
• acad-ex32_2.htm (EX-32.2) — 7KB
• img91857729_0.jpg (GRAPHIC) — 272KB
• 0000950170-24-056077.txt (&nbsp;) — 7467KB
• acad-20240331.xsd (EX-101.SCH) — 892KB
• acad-20240331_htm.xml (XML) — 1208KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income (Loss) 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Stockholders' Equity 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 5. Other Information 61 Item 6. Exhibits 62

SIGNATURES

SIGNATURES 63 i

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

F INANCIAL STATEMENTS

ITEM 1. F INANCIAL STATEMENTS ACADIA PHARMACEUTICALS INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (in thousands, except share and per share amounts) March 31, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 204,745 $ 188,657 Investment securities, available-for-sale 265,775 250,208 Accounts receivable, net 94,701 98,267 Interest and other receivables 5,378 4,083 Inventory 61,936 35,819 Prepaid expenses 42,761 39,091 Total current assets 675,296 616,125 Property and equipment, net 4,370 4,612 Operating lease right-of-use assets 54,280 51,855 Intangible assets, net 110,204 65,490 Restricted cash 5,770 5,770 Long-term inventory 4,707 4,628 Other assets 476 476 Total assets $ 855,103 $ 748,956 Liabilities and stockholders' equity Accounts payable $ 19,332 $ 17,543 Accrued liabilities 311,265 236,711 Total current liabilities 330,597 254,254 Operating lease liabilities 49,189 47,800 Other long-term liabilities 11,273 15,147 Total liabilities 391,059 317,201 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value; 5,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 225,000,000 shares authorized at March 31, 2024 and December 31, 2023; 164,959,736 shares and 164,650,219 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 16 16 Additional paid-in capital 2,878,539 2,862,552 Accumulated deficit ( 2,414,282 ) ( 2,430,837 ) Accumulated other comprehensive income (loss) ( 229 ) 24 Total stockholders' equity 464,044 431,755 Total liabilities and stockholders' equity $ 855,103 $ 748,956 The accompanying notes are an integral part of these unaudited condensed