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ACADIA Pharmaceuticals Announces Second Quarter 2008 Financial Results and Strategic Restructuring
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August 5, 2008General ACADIA Pharmaceuticals Announces Second Quarter 2008 Financial Results and Strategic Restructuring SAN DIEGO—(BUSINESS WIRE)—Aug. 5, 2008—ACADIA PharmaceuticalsInc. (Nasdaq: ACAD), a biopharmaceutical company utilizing innovativetechnology to fuel drug discovery and clinical development of noveltreatments for central nervous system disorders, today reported itsunaudited financial results for the second quarter ended June 30, 2008and announced a strategic restructuring. ACADIA will focus on developing a portfolio of its four mostadvanced product candidates, consisting of two internal compounds aswell as two partnered compounds that are funded by Allergan. Inconnection with the restructuring, ACADIA plans to reduce its totalworkforce by about 50 percent to 65 employees. This restructuring willimpact employees at both its San Diego and Malmo sites. "Following a thorough strategic review of our portfolio andbusiness, we will focus resources on our most...
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