ACADIA Pharmaceuticals Files Registration Statement as Required by Previously Announced...

ACADIA Pharmaceuticals Files Registration Statement as Required by Previously Announced Committed Equity Financing Facility

SAN DIEGO--(Business Wire)--
ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), a biopharmaceutical
company utilizing innovative technology to fuel drug discovery and
clinical development of novel treatments for central nervous system
disorders, today announced that it filed a registration statement as
required under the terms of its previously announced Committed Equity
Financing Facility (CEFF) with Kingsbridge Capital Limited.

Under the terms of the CEFF, ACADIA has access, at its discretion,
to up to $60 million in capital from Kingsbridge over a three-year
period through the sale of newly-issued shares of ACADIA's common
stock. The funds that can be raised under the CEFF over the term will
depend on the then-current price for ACADIA's stock and the number of
shares actually sold, which may not exceed an aggregate of 7,072,364
shares. ACADIA was required to file the S-3 registration statement to
cover the shares issuable pursuant to the CEFF and the up to 350,000
shares that may be exercised pursuant to a warrant, which was issued
to Kingsbridge upon the signing of the CEFF. The effectiveness of the
S-3 registration statement is a condition to Kingsbridge's obligation
to purchase shares under the CEFF.

ACADIA currently has no specific plans for the CEFF and is not
obligated to utilize any of the $60 million available under the CEFF.

The securities issuable pursuant to the CEFF and upon exercise of
the warrant may not be offered or sold in the United States absent
registration under the Securities Act of 1933 and applicable state
securities laws or available exemptions from registration
requirements. 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 which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state. The
registration statement referred to above has been filed with the
Securities and Exchange Commission but has not yet become effective.
The securities being registered may not be offered or sold under the
registration statement prior to the time that the registration
statement becomes effective. Any offering of ACADIA's common stock
under the registration statement will be made only by means of a
prospectus.

About ACADIA Pharmaceuticals

ACADIA is a biopharmaceutical company utilizing innovative
technology to fuel drug discovery and clinical development of novel
treatments for central nervous system disorders. ACADIA is focused on
developing a portfolio of its four most advanced product candidates,
including pimavanserin in Phase III for Parkinson's disease psychosis,
a compound in Phase II for chronic pain and a compound in Phase I for
glaucoma, both in collaboration with Allergan, and ACP-106 in
IND-track development. All of the product candidates in ACADIA's
pipeline emanate from discoveries made using its proprietary drug
discovery platform and are directed at indications with large unmet
medical needs. ACADIA's corporate headquarters is located in San
Diego, California and it maintains research and development operations
in both San Diego and Malmo, Sweden.

Forward-Looking Statements

Statements in this press release that are not strictly historical
in nature are forward-looking statements. These statements include but
are not limited to statements related to the funds to be available
under the CEFF or shares to be issued under the CEFF. These statements
are only predictions based on current information and expectations and
involve a number of risks and uncertainties. Actual events or results
may differ materially from those projected in any of such statements
due to various factors, including the risks and uncertainties inherent
in drug discovery, development and commercialization, and in the
financial markets and in the price of ACADIA's common stock. For a
discussion of these and other factors, please refer to ACADIA's annual
report on Form 10-K for the year ended December 31, 2007 as well as
other subsequent filings with the Securities and Exchange Commission.
You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. This caution is
made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All forward-looking statements are
qualified in their entirety by this cautionary statement and ACADIA
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.

ACADIA Pharmaceuticals Inc.
Lisa Barthelemy, Director, Investor Relations
Thomas H. Aasen, Vice President and
Chief Financial Officer
858-558-2871

Copyright Business Wire 2008