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ACADIA Pharmaceuticals, Inc. (ACAD)Announces Appointment Of Stephen Davis As Executive Vice President, Chief Financial Officer And Chief Business Officer



7/15/2014 9:30:26 AM

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SAN DIEGO--(BUSINESS WIRE)-- ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in neurological and related central nervous system disorders, announced the appointment of Stephen Davis as Executive Vice President, Chief Financial Officer and Chief Business Officer, effective today. Mr. Davis will report to Uli Hacksell, Ph.D., ACADIA’s Chief Executive Officer.

“Steve is a highly accomplished industry executive with extensive financial and operational experience, and will be an outstanding addition to our team,” said Dr. Hacksell. “Steve’s impressive background and demonstrated leadership skills will be key as we continue to build the corporate infrastructure necessary to support the planned launch of pimavanserin in Parkinson’s disease psychosis and seek to maximize the significant opportunities ahead for pimavanserin.”

Mr. Davis brings over 20 years of executive-level experience in the pharmaceutical industry. He most recently served as Executive Vice President and Chief Operating Officer at Heron Therapeutics, Inc., which he joined in 2013. He led core business and finance functions there and was instrumental in developing and implementing a new corporate strategy with a multi-program portfolio. Previously, Mr. Davis served as Executive Vice President and Chief Operating Officer at Ardea Biosciences, Inc. from 2010 to 2013, where he oversaw business functions, including finance, commercial planning, and corporate development, and played a critical role in building and growing the company. Prior to joining Ardea, Mr. Davis served in numerous executive roles at Neurogen Corporation from 1994 to 2010, including Chief Financial Officer, Chief Operating Officer, and Chief Executive Officer, completing multiple collaborations and product acquisitions with global pharmaceutical companies. Mr. Davis currently serves on the Board of Directors of Heron Therapeutics and Synageva BioPharma Corp.

Earlier in his career, Mr. Davis practiced as a Certified Public Accountant with a major accounting firm and as a corporate and securities attorney with a Wall Street law firm. Mr. Davis received his Bachelor of Science degree in Accounting from Southern Nazarene University and a J.D. from Vanderbilt University.

“This is an exciting time to join ACADIA as it advances pimavanserin toward an NDA submission, prepares for the planned launch of pimavanserin, and strategically expands the program into other important neurological and psychiatric indications,” said Mr. Davis. “I look forward to being part of a high-caliber team that shares the vision of building a leading U.S. specialty neurology company.”

About ACADIA Pharmaceuticals

ACADIA is a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in neurological and related central nervous system disorders. ACADIA has a pipeline of product candidates led by pimavanserin, which is in Phase III development as a potential first-in-class treatment for Parkinson’s disease psychosis. Pimavanserin is also in Phase II development for Alzheimer’s disease psychosis and has successfully completed a Phase II trial as a co-therapy for schizophrenia. ACADIA also has clinical-stage programs for chronic pain and glaucoma in collaboration with Allergan, Inc. and two advanced preclinical programs directed at Parkinson’s disease and other neurological disorders. All product candidates are small molecules that emanate from internal discoveries. ACADIA maintains a website at www.acadia-pharm.com to which ACADIA regularly posts copies of its press releases as well as additional information and through which interested parties can subscribe to receive e-mail alerts.

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 progress, expansion and timing of ACADIA’s drug discovery and development programs, either alone or with a partner, including clinical trials, the potential benefits to be derived from ACADIA’s product candidates, in each case including pimavanserin, any future approval or launch of pimavanserin for Parkinson’s disease psychosis or any other indication, any expansion or significant opportunities ahead for the pimavanserin program, ACADIA’s growth, or the ability of ACADIA to become a leading U.S. specialty neurology company. 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 collaborations with others, and the fact that past results of clinical trials may not be indicative of future trial results. 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, 2013 as well as ACADIA’s 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, except as required by law.

Contacts
ACADIA Pharmaceuticals Inc.
Uli Hacksell, Ph.D., Chief Executive Officer
Lisa Barthelemy, Director of Investor Relations
(858) 558-2871

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