Acadia Pharmaceuticals: Difference between revisions
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| industry = [[Biopharmaceutical]], [[Healthcare]] |
| industry = [[Biopharmaceutical]], [[Healthcare]] |
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| products = [[Pimavanserin]] |
| products = [[Pimavanserin]] |
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| revenue = {{increase}} {{US$|339.076 million}} <small>(2019)</small><ref name="Acadia">{{Cite web|url = https://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ_ACAD_2019.pdf|title = Acadia Pharmaceuticals Annual Report 2019|website=www.annualreports.com |publisher = ACADIA Pharmaceuticals for 10K |access-date= |url-status=live}}</ref> |
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| ⚫ | |||
| operating_income = {{increase}} $ |
| operating_income = {{negative increase}} {{US$|-246.545 million}} <small>(2019)</small><ref name="Acadia" /> |
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| net_income = {{ |
| net_income = {{negative decrease}} {{US$|-235.259 million}} <small>(2019)</small><ref name="Acadia" /> |
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| assets = {{increase}} |
| assets = {{increase}} {{US$|783.183 million}} <small>(2019)</small><ref name="Acadia" /> |
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| ⚫ | |||
| equity = |
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| num_employees = |
| num_employees = 503 <small>(2019)</small><ref name="Acadia" /> |
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| homepage = {{URL|acadia-pharm.com/}} |
| homepage = {{URL|acadia-pharm.com/}} |
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}} |
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Revision as of 13:16, 1 September 2020
 | |
| Formerly | Receptor Technologies |
|---|---|
| Company type | Public |
| |
| Industry | Biopharmaceutical, Healthcare |
| Founded | 1993 |
| Headquarters | San Diego, CA, U.S. |
Key people | |
| Products | Pimavanserin |
| Revenue |  US$339.076 million (2019)[3] |
 US$−246.545 million (2019)[3] | |
 US$−235.259 million (2019)[3] | |
| Total assets | US$783.183 million (2019)[3] |
| Total equity | US$699.135 million (2019)[3] |
Number of employees | 503 (2019)[3] |
| Website | acadia-pharm |
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Sorrento Valley, San Diego, California.[4]
Product development
Nuplazid, a drug developed by Acadia in the late 1990s, "was designed to stimulate a subset of the brain’s serotonin receptors, or the proteins that govern memory, cognition and learning."[5] On April 29, 2016, the FDA approved Acadia's drug, Nuplazid, for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.[6] Nuplazid is the trade name for Acadia's proprietary molecule, pimavanserin, a selective serotonin inverse agonist preferentially targeting 5-HT2a receptors. Acadia had partnered with Biovail in the late-stage clinical testing of the drug, which showed trial failures as of 2009.[1][7][8]
Acadia is running multiple Phase 2 and Phase 3 trials with pimavanserin in several central nervous system conditions: dementia-related psychosis[9], major depressive disorder[10], schizophrenia inadequate response[11], and schizophrenia negative symptoms[12].
As of 1997[update], Acadia was among several companies that licensed compounds from Genzyme's small-molecule compound library.[13]
History
Acadia started in 1993 as Receptor Technologies, based in Winooski, Vermont.[2] In 1997, the company relocated all operations and management from Vermont to San Diego, California as a strategic move to garner partnerships with other biotechnology companies.[2] However, the company also had an office in Denmark, and the country was an important early source of investment.[2] At the time, the company had fifty employees, fourteen of whom were in the Denmark office.[2] The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.[2]
The company planned to conduct an Initial public offering (IPO) consisting of 31.6% of the company in 2001, with the intention of raising US$64 million and listing on the NASDAQ exchange under the symbol ACAD.[14] At the time, Acadia and Allergan were collaborating on development of a treatment for glaucoma, and Allergan would retain a 6.3% ownership stake in Acadia after the IPO.[14] However, the company's IPO, which ultimately took place in May 2004,[8] did not fare as well as expected and netted only US$35 million.[15] At the time, the company had five drugs in development and was running two in human trials.[16] The company had a subsequent round of stock offering in May 2007 which raised US$102 million.[17]
Corporate governance
In 2001, the company's chief executive officer at the time, Leonard R. Borrmann, left Acadia to lead Maret Pharmaceuticals.[18] He was succeeded by Uli Hacksell, who left Acadia to lead Cerecor at the beginning of 2016.[19] In April 2019, Acadia announced the promotion of Elena Ridloff, CFA to Executive Vice President, Chief Financial Officer.[20]
References
- ^ a b "Market Movers". The Record. Vol. 115, no. 335. Hackensack, New Jersey: North Jersey Media Group. May 5, 2009. p. B-8 – via Newspapers.com.
- ^ a b c d e f Fikes, Bradley J. (August 20, 1997). "Biotech with Danish ties settles on San Diego". North County Times. p. D1 – via Newspapers.com.
"Biotech", continuation of article, p. D2. - ^ a b c d e f "Acadia Pharmaceuticals Annual Report 2019" (PDF). www.annualreports.com. ACADIA Pharmaceuticals for 10K.
{{cite web}}: CS1 maint: url-status (link) - ^ Singer, Stacey (November 26, 2005). "Jupiter's Abacoa site in the mix". The Palm Beach Post. Vol. 36, no. 19 (Final ed.). West Palm Beach, Florida: Cox. p. 4A – via Newspapers.com.
- ^ Boyd, Roddy (2018-07-09). "Acadia Pharmaceuticals: This Is Not a Pharmaceutical Company". The Foundation for Financial Journalism. Retrieved 2020-06-29.
- ^ "FDA Press Release,". April 29, 2016.
- ^ "Acadia, Biovail plan more study on Parkinson's drug". The Ottawa Citizen. Ottawa, Ontario: Canwest. October 7, 2009. p. D3 – via Newspapers.com.
- ^ a b "Market Movers". The Record. Vol. 115, no. 90. Hackensack, New Jersey: New Jersey Media Group. September 2, 2009. p. L-8 – via Newspapers.com.
- ^ "Acadia Is Starting Phase 3 Trial of Nuplazid for Dementia-related Psychosis".
- ^ "ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia".
- ^ "ACADIA Pharmaceuticals Initiates Phase III Trial of Pimavanserin for Adjunctive Treatment in Patients with Schizophrenia".
- ^ "ACADIA Pharmaceuticals Initiates Phase II Trial of Pimavanserin for Adjunctive Treatment in Patients With Negative Symptoms of Schizophrenia".
- ^ Rosenberg, Ronald (December 19, 1997). "Bayer AG buys access to Genzyme library". The Boston Globe. Vol. 252, no. 172. p. C7 – via Newspapers.com.
- ^ a b "Drug Developer Acadia Pharmaceuticals Files for IPO". Los Angeles Times. Vol. CXX, no. 65. Tribune Publishing Company. Bloomberg. February 6, 2001. p. C3. Retrieved 7 Dec 2019 – via Newspapers.com.
- ^ Krasner, Jeffrey (August 16, 2004). "As money-raisers, this year's biotech IPOs falling short". The Boston Globe. Vol. 266, no. 47. Boston, Massachusetts. p. C4 – via Newspapers.com.
- ^ Krasner, Jeffrey (August 23, 2004). "A disappointing year for biotech IPOs". Austin American-Statesman. Vol. 134, no. 26 (Final ed.). Austin, Texas: Cox. Boston Globe. p. D2 – via Newspapers.com.
- ^ "Equity > Additional Equity > Piper Jaffrey & Co". Quarterly Deal Report, 2nd Quarter, 2007. Star Tribune. Vol. XXVI, no. 110. Minneapolis-St. Paul, Minnesota. July 23, 2007. p. D7 – via Newspapers.com.
- ^ "New Chief at Maret Pharmaceuticals". Orange County Newsmakers. Los Angeles Times. Vol. CXX, no. 86 (National ed.). Tribune Publishing Company. February 27, 2001. p. C4 – via Newspapers.com.
- ^ "Cerecor's shares surge 25% after the CEO is replaced". The Baltimore Sun. Vol. 178, no. 357. Baltimore, Maryland: Tribune Publishing Company. December 23, 2015. p. 10 – via Newspapers.com.
- ^ "ACADIA Pharmaceuticals Announces Promotion of Elena Ridloff, CFA to Executive Vice President, Chief Financial Officer". www.bloomberg.com. Retrieved 2020-04-03.
{{cite web}}: CS1 maint: url-status (link)
