Seeking Alpha

QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • ACADIA Pharmaceuticals Inc. (ACAD) Secures $15 Million to Advance Pimavanserin Phase III Program 0 comments
    Jan 10, 2011 1:57 PM | about stocks: ACAD
    ACADIA Pharmaceuticals Inc. announced before the opening bell that it has agreed to a private placement financing with a select group of institutional investors, including New Enterprise Associates and Venrock. As terms of the agreement, ACADIA will receive gross proceeds of $15.0 million from the sale of approximately 12.57 million units at a price of $1.19375 per unit. Each unit consists of one share of ACADIA’s common stock and a warrant to purchase 0.35 shares of common stock.

    Anticipated to close before the end of this week, the private placement is still subject to the satisfaction of customary closing conditions. The financing will provide ACADIA with additional resources to advance its Phase III pimavanserin program, including the ongoing Phase III trials in Parkinson’s disease psychosis. Furthermore, the added funds are expected to extend the company’s cash runway into 2013.

    With a solid balance sheet, a significant position held by insiders and an average analyst price target of $3.25, the company is worthy of a closer look.

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
    Stocks: ACAD
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.