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ACADIA Pharmaceuticals Announces Proposed Public Stock Offering

SAN DIEGO, April 24, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) announced today the filing of a preliminary prospectus supplement to its effective shelf registration statement previously filed with the Securities and Exchange Commission relating to a proposed underwritten public offering of $75 million of its common stock. In connection with the offering, ACADIA also plans to grant the underwriters an option to purchase approximately $11 million of additional shares of its common stock. All of the shares are being sold by ACADIA.

The book-running managers for the offering are Banc of America Securities LLC and Lehman Brothers Inc. and the co-managers are Piper Jaffray & Co., JMP Securities LLC and Canaccord Adams Inc.

These securities may not be sold nor may offers to buy be accepted prior to the time the final prospectus supplement has been filed. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the final prospectus supplement and related prospectus relating to the offering. You may obtain a preliminary prospectus supplement and prospectus by contacting Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by e-mail to dg.prospectus_distribution@bofasecurities.com or by mail to Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001 and Lehman Brothers Inc. by email to monica_castillo@adp.com or by fax to (631) 254-7268 or by mail to Lehman Brothers, c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717.

ACADIA Pharmaceuticals is a biopharmaceutical company with its corporate headquarters located in San Diego, California and research and development operations in both San Diego and Malmo, Sweden.

Lisa Barthelemy, Director, Investor Relations, or Thomas H. Aasen, Vice President and Chief Financial Officer, +1-858-558-2871, both of ACADIA Pharmaceuticals Inc.