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ACADIA Pharmaceuticals Announces Initial Public Offering

SAN DIEGO, May 26 /PRNewswire-FirstCall/ -- ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) today announced the pricing of its initial public offering of 5,000,000 shares of common stock at a price of $7.00 per share. All of the shares are being offered by ACADIA. ACADIA also granted to the underwriters a thirty-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments. The shares have been listed on The Nasdaq National Market under the symbol "ACAD."

Banc of America Securities LLC is acting as sole book-running manager, Piper Jaffray & Co. is acting as co-lead manager and JMP Securities LLC and Adams, Harkness & Hill, Inc. are acting as co-managers for the offering.

The public offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering can be obtained from Banc of America Securities LLC, Attention: Syndicate Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001, 646-733-4166, email: DL-ProspectusDistribution@bofasecurities.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

ACADIA Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule darugs for the treatment of central nervous system disorders.

For further information please contact: Uli Hacksell, Ph.D., Chief Executive Officer, or Thomas H. Aasen, Vice President and Chief Financial Officer, both of ACADIA Pharmaceuticals Inc., +1-858-558-2871

SOURCE ACADIA Pharmaceuticals Inc. -0- 05/26/2004 /CONTACT: Uli Hacksell, Ph.D., Chief Executive Officer, or Thomas H. Aasen, Vice President and Chief Financial Officer, both of ACADIA Pharmaceuticals Inc., +1-858-558-2871/ /Web site: http://www.acadia-pharm.com / (ACAD) CO: ACADIA Pharmaceuticals Inc. ST: California IN: HEA MTC BIO SU: OFR LP -- LAW133 -- 4250 05/26/2004 21:52 EDT http://www.prnewswire.com -->