Blueprint ACADIA Pharmaceuticals Reports Financial Results for the Fourth Quarter and Year Ended

ACADIA Pharmaceuticals Reports Financial Results for the Fourth

Quarter and Year Ended December 31, 2016

NUPLAZID Net Product

Sales Grew to $12.0 Million in Fourth Quarter 2016

Executing on Broad Clinical Development Program in

Alzheimer's Disease Psychosis, Alzheimer's Disease

Agitation, Schizophrenia Inadequate Response, Negative Symptoms of

Schizophrenia, and Major Depressive Disorder

SAN DIEGO, CA February 28, 2017

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical

company focused on the development and commercialization of

innovative medicines to address unmet medical needs in central

nervous system (CNS) disorders, today announced its financial

results for the fourth quarter and year ended December 31,

was a transformational year for ACADIA highlighted by the launch of

NUPLAZID (pimavanserin) as the first and only drug approved by the

FDA for the treatment of hallucinations and delusions associated

with Parkinson's disease psychosis, said Steve Davis,

ACADIA's President and Chief Executive Officer. We are

pleased with the strong progress of the launch and our execution in

bringing this drug to Parkinson's

recently, we announced positive results from our Phase II study

with pimavanserin in Alzheimer's disease psychosis.

Pimavanserin has now shown antipsychotic effects in clinical

studies in three major CNS disorders: Parkinson's disease,

schizophrenia, and Alzheimer's disease. These results,

combined with the initiation of four new clinical programs,

underscore the potential of pimavanserin to improve the lives of

patients across multiple CNS disease states and our commitment to

explore this potential in broad and substantive clinical

available on Medicare formularies for the treatment of

Parkinson's disease psychosis (PD Psychosis); commercial

coverage decisions now made for over 60% of commercial lives and

results from our Phase II study exploring the utility of

pimavanserin for the treatment of Alzheimer's disease

psychosis announced in December 2016.

SERENE study, a 430-patient study evaluating pimavanserin for the

treatment of Alzheimer's disease agitation.

ENHANCE-1 study, a 380-patient study evaluating pimavanserin for

adjunctive treatment of schizophrenia in patients with an

inadequate response to their current antipsychotic

ADVANCE study, a 380-patient study evaluating pimavanserin for

adjunctive treatment in patients with negative symptoms of

CLARITY study, a 188-patient study evaluating pimavanserin for

adjunctive treatment in patients with major depressive disorder who

have an inadequate response to standard antidepressant

reported net product sales of $12.0 million for the fourth quarter

of 2016. NUPLAZID was launched commercially in May 2016, so there

were no similar product sales for the comparable quarter of 2015.

Through ACADIA's NUPLAZIDconnectTM site, upon

initiation of therapy, physicians have been able to prescribe

patients a 30-day free trial of NUPLAZID for which no revenue is

Research and Development

development expenses increased to $30.2 million for the fourth

quarter of 2016 from $20.5 million for the comparable quarter of

2015. This increase was primarily due to increased clinical costs

related to the development of pimavanserin in indications other

than PD Psychosis and an increase in personnel and related costs

associated with ACADIA's expanded research and development

Selling, General and Administrative

and administrative expenses increased to $57.7 million for the

fourth quarter of 2016 from $22.6 million for the comparable

quarter of 2015. This increase was primarily due to costs related

to the hiring of our specialty sales force in April 2016 and costs

incurred to support our commercial activities for

fourth quarter of 2016, ACADIA reported a net loss of $78.7

million, or $0.65 per common share, compared to a net loss of $45.8

million, or $0.45 per common share, for the comparable quarter of

2015. The net losses for the fourth quarters of 2016 and 2015

included $15.4 million and $8.9 million, respectively, of non-cash

stock-based compensation expense. For the year ended December 31,

2016, ACADIA reported a net loss of $271.4 million, or $2.34 per

common share, compared to a net loss of $164.4 million, or $1.63

per common share, for 2015. The net losses for the years ended

December 31, 2016 and 2015 included $55.3 million and $40.2

million, respectively, of non-cash stock-based compensation

Cash and Investments

December 31, 2016, ACADIA's cash, cash equivalents and

investment securities totaled $529.0 million, compared to $215.1

million at December 31, 2015.

Conference Call and Webcast Information

management will review its fourth quarter financial results and

operations via conference call and webcast later today at 5:00 p.m.

Eastern Time. The conference call may be accessed by dialing

844-821-1109 for participants in the U.S. or Canada and

830-865-2550 for international callers (reference passcode

74539512). A telephone replay of the conference call may be

accessed through March 14, 2017 by dialing 855-859-2056 for callers

in the U.S. or Canada and 404-537-3406 for international callers

(reference passcode 74539512). The conference call also will be

webcast live on ACADIA's website, www.acadia-pharm.com,

under the investors section and will be archived there until March

first and only FDA-approved treatment for hallucinations and

delusions associated with PD Psychosis. NUPLAZID is a

non-dopaminergic, selective serotonin inverse agonist

preferentially targeting 5-HT2A receptors that

are thought to play an important role in PD Psychosis. NUPLAZID is

an oral medicine taken once a day with a recommended dose of 34 mg

(two 17-mg tablets). ACADIA discovered this new chemical entity and

holds worldwide rights to develop and commercialize