ACADIA Pharmaceuticals Q2 net loss decreases

Comtex News Network

Aug 23, 2012 (Datamonitor via COMTEX) --ACADIA Pharmaceuticals Inc., a biopharmaceutical company, has reported that net loss for the second quarter ended June 30, 2012 was $5.42 million, or $0.10 loss per share, compared to a net loss of $6.56 million, or $0.12 loss per share, for the same quarter ended June 30, 2011.

Collaborative revenues for the second quarter of 2012 were $599,000, compared to $460,000 for the same quarter of 2011.

Net loss for the six months ended June 30, 2012 was $11.64 million, or $0.22 loss per share, compared to a net loss of $12.39 million, or $0.24 loss per share, for the same period ended June 30, 2011.

Collaborative revenues for the six months ended June 30, 2012 were $1.05 million, compared to $895,000 for the same period ended June 30, 2011.

"Our progress in the first half of 2012 established the foundation for what we believe will be an exciting and value-driving second half of the year," said Uli Hacksell, ACADIA's CEO. "We look forward to reporting top-line results this fall from the ongoing pivotal -020 trial in our Phase III Parkinson's disease psychosis program with pimavanserin. Importantly, our pipeline of product candidates, led by pimavanserin, positions ACADIA with multiple product and commercial opportunities and significant growth potential."

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