Acadia Pharmaceuticals is planning to raise $250 million through a public stock offering.
Shares will be offered under a shelf registration statement filed last November. Acadia also said it would grant underwriters a 30-day option to purchase an additional $37.5 million in common stock.
In paperwork Acadia didn’t say how the proceeds might be used. But the offering follows its drug achieving “robust statistical superiority” compared to a placebo for dementia-related psychosis. That was in a late-stage clinical trial.
With the results Acadia said it would seek the U.S. Food and Drug Administration’s blessing to market the drug for that indication. The drug, nuplazid, is already approved to treat hallucinations and delusions caused by Parkinson’s disease.