ACADIA Pharmaceuticals Q2 2024 Update

TL;DR

ACADIA's Q2 2024 results are in. Check the filing for financial details.

AI Summary

ACADIA Pharmaceuticals Inc. reported its financial results for the quarter ended June 30, 2024. The company's filing details its financial position and operational activities, including information related to its product portfolio and ongoing research and development efforts. Specific financial figures and operational metrics for the period are provided within the report.

Why It Matters

This filing provides investors and stakeholders with a crucial update on ACADIA's financial health and strategic direction, impacting investment decisions and market perception.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, ACADIA faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)
• 000-50768 — SEC File Number (Unique identifier for the company's SEC filings.)

Key Players & Entities

• ACADIA PHARMACEUTICALS INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240807 (date) — Filing Date
• SAN DIEGO (location) — Company Headquarters Location

FAQ

Key Financial Figures

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

Filing Documents

• acad-20240630.htm (10-Q) — 1829KB
• acad-ex10_9.htm (EX-10.9) — 37KB
• 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
• 0000950170-24-092163.txt ( ) — 7525KB
• acad-20240630.xsd (EX-101.SCH) — 899KB
• acad-20240630_htm.xml (XML) — 1430KB

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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 5. Other Information 63 Item 6. Exhibits 64

SIGNATURES

SIGNATURES 66 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) June 30, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 177,134 $ 188,657 Investment securities, available-for-sale 323,808 250,208 Accounts receivable, net 103,698 98,267 Interest and other receivables 6,695 4,083 Inventory 71,525 35,819 Prepaid expenses 46,056 39,091 Total current assets 728,916 616,125 Property and equipment, net 4,144 4,612 Operating lease right-of-use assets 52,390 51,855 Intangible assets, net 107,859 65,490 Restricted cash 5,770 5,770 Long-term inventory 14,544 4,628 Other assets 476 476 Total assets $ 914,099 $ 748,956 Liabilities and stockholders' equity Accounts payable $ 19,882 $ 17,543 Accrued liabilities 317,969 236,711 Total current liabilities 337,851 254,254 Operating lease liabilities 47,186 47,800 Other long-term liabilities 12,362 15,147 Total liabilities 397,399 317,201 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value; 5,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 225,000,000 shares authorized at June 30, 2024 and December 31, 2023; 165,853,301 shares and 164,650,219 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 16 16 Additional paid-in capital 2,897,916 2,862,552 Accumulated deficit ( 2,380,893 ) ( 2,430,837 ) Accumulated other comprehensive (loss) income ( 339 ) 24 Total stockholders' equity 516,700 431,755 Total liabilities and stockholders' equity $ 914,099 $ 748,956 The accompanying notes are an integral part of these unaudited condensed con