$ACAD
ACADIA PHARMACEUTICALS INC

2013 Q1 Form 10-K Financial Statement

#000119312513103111 Filed on March 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 2011 Q4
Revenue $417.0K $4.907M $588.0K
YoY Change -7.33% 137.4% -98.34%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.200M $7.000M $1.500M
YoY Change 29.41% 18.64% 0.0%
% of Gross Profit
Research & Development $4.430M $18.79M $4.400M
YoY Change -11.77% 8.58% -8.33%
% of Gross Profit
Depreciation & Amortization $12.00K $109.0K $30.00K
YoY Change -61.75% -85.0%
% of Gross Profit
Operating Expenses $6.581M $25.79M $5.900M
YoY Change -1.5% 3.51% -6.35%
Operating Profit -$6.164M -$20.89M
YoY Change -1.08% -8.6%
Interest Expense $41.00K $37.00K $0.00
YoY Change -57.47%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.100M -$20.80M -$5.300M
YoY Change -1.61% -8.77% -118.21%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.123M -$20.85M -$5.300M
YoY Change -1.53% -8.42% -118.21%
Net Earnings / Revenue -1468.35% -424.88% -901.36%
Basic Earnings Per Share -$0.38
Diluted Earnings Per Share -$77.51K -$0.38 -$100.4K
COMMON SHARES
Basic Shares Outstanding 78.76M shares 55.12M shares
Diluted Shares Outstanding 55.12M shares

Balance Sheet

Concept 2013 Q1 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.5M $108.0M $31.00M
YoY Change 291.89% 248.39% -16.41%
Cash & Equivalents $18.44M $57.90M $6.889M
Short-Term Investments $83.00M $50.10M $24.20M
Other Short-Term Assets $1.500M $600.0K $900.0K
YoY Change 200.0% -33.33% 12.5%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $103.0M $108.5M $31.95M
YoY Change 290.09% 240.13% -15.59%
LONG-TERM ASSETS
Property, Plant & Equipment $30.00K $0.00 $151.0K
YoY Change -70.0% -100.0% -62.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $14.00K
YoY Change -86.0%
Total Long-Term Assets $30.00K $100.0K $165.0K
YoY Change -70.0% -50.0% -69.72%
TOTAL ASSETS
Total Short-Term Assets $103.0M $108.5M $31.95M
Total Long-Term Assets $30.00K $100.0K $165.0K
Total Assets $103.0M $108.6M $32.11M
YoY Change 288.74% 238.32% -16.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.396M $1.400M $1.960M
YoY Change 39.6% -30.0% -0.61%
Accrued Expenses $4.159M $4.100M $3.504M
YoY Change -11.51% 17.14% 8.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $32.00K
YoY Change -68.0%
Total Short-Term Liabilities $5.695M $5.900M $6.165M
YoY Change -11.02% -4.84% 2.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $17.70M $17.70M $2.600M
YoY Change 608.0% 580.77% 1996.77%
Total Long-Term Liabilities $17.70M $17.70M $2.600M
YoY Change 608.0% 580.77% 1996.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.695M $5.900M $6.165M
Total Long-Term Liabilities $17.70M $17.70M $2.600M
Total Liabilities $23.40M $23.60M $8.752M
YoY Change 162.92% 168.18% 0.53%
SHAREHOLDERS EQUITY
Retained Earnings -$373.8M -$346.9M
YoY Change 7.02%
Common Stock $7.000K $5.000K
YoY Change 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.66M $85.00M $23.36M
YoY Change
Total Liabilities & Shareholders Equity $103.0M $108.6M $32.11M
YoY Change 288.74% 238.32% -16.36%

Cashflow Statement

Concept 2013 Q1 2012 2011 Q4
OPERATING ACTIVITIES
Net Income -$6.123M -$20.85M -$5.300M
YoY Change -1.53% -8.42% -118.21%
Depreciation, Depletion And Amortization $12.00K $109.0K $30.00K
YoY Change -61.75% -85.0%
Cash From Operating Activities -$6.585M -$21.63M -$5.340M
YoY Change 25.91% 8.72% -215.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$33.09M -$25.53M $3.810M
YoY Change -952.84% -526.92% -149.1%
Cash From Investing Activities -$33.09M -$25.53M $3.810M
YoY Change -953.39% -526.89% -149.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $208.0K $98.20M
YoY Change 570.97% 600.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 208.0K 98.17M 90.00K
YoY Change 845.45% 604.04% -75.0%
NET CHANGE
Cash From Operating Activities -6.585M -21.63M -5.340M
Cash From Investing Activities -33.09M -25.53M 3.810M
Cash From Financing Activities 208.0K 98.17M 90.00K
Net Change In Cash -39.46M 51.01M -1.440M
YoY Change 2864.91% 188829.63% -48.39%
FREE CASH FLOW
Cash From Operating Activities -$6.585M -$21.63M -$5.340M
Capital Expenditures $0.00
Free Cash Flow -$5.340M
YoY Change -215.84%

Facts In Submission

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CY2010 us-gaap Stock Issued During Period Value Stock Options Exercised
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117000
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108000
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12000
CY2010 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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20000
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274000
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
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1598000
CY2011 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Deferred Compensation Arrangement With Individual Employer Contribution
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156000
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-7734000
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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109000
CY2011 us-gaap Increase Decrease In Deferred Revenue
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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78000
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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131000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2011 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
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13000
CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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3000
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CY2011 us-gaap Earnings Per Share Basic
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17309000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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129742 shares
CY2011 us-gaap Payments To Acquire Available For Sale Securities
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48066000
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24919000
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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8820000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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52183000 shares
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2100000
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2067000
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CY2011 us-gaap Income Tax Reconciliation Other Adjustments
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368000
CY2011 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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59000
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17000
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13000
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9000
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277000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2011 acad Stock Issued During Period Value Common Stock Warrants
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CY2011 acad Stock Issued Employee Stock Purchase Plan Average Price Per Share
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0.57
CY2011 acad Income Tax Expense Permanent Tax Differences
IncomeTaxExpensePermanentTaxDifferences
306000
CY2012 dei Trading Symbol
TradingSymbol
ACAD
CY2012 dei Entity Registrant Name
EntityRegistrantName
ACADIA PHARMACEUTICALS INC
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001070494
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
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--12-31
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-1171000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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650000
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P5Y9M18D
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1930000
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CY2012 us-gaap Deferred Compensation Arrangement With Individual Employer Contribution
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180000
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-937000
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P6Y9M18D
CY2012 us-gaap Share Based Compensation
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
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293595 shares
CY2012 us-gaap Investment Income Net
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37000
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453000
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123000
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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1.54
CY2012 us-gaap Number Of Operating Segments
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1 Segment
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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51010000
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32000
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P2Y3M18D
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2012 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
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453000
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17658000
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199062 shares
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CY2012 us-gaap Deferred Compensation Arrangement With Individual Description
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Effective January 1997, the Company established a deferred compensation plan (the "401(k) Plan") pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the "Code"), whereby substantially all employees are eligible to contribute up to 60 percent of their pretax earnings, not to exceed amounts allowed under the Code. The Company makes contributions to the 401(k) Plan equal to 100 percent of each employee's pretax contributions up to 5 percent of his or her eligible compensation. The Company's total contributions to the 401(k) Plan were $180,000, $156,000, and $133,000 for the years ended December 31, 2012, 2011 and 2010, respectively.
CY2012 us-gaap Operating Expenses
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25793000
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8375000
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P10Y
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CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y10M24D
CY2012 us-gaap Revenues
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133000
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CY2012 us-gaap Income Tax Expense Benefit
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0
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CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</font></p> </div>
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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635000
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1.51
CY2012 us-gaap Property Plant And Equipment Disposals
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CY2012 acad Stock Issued During Period Value Common Stock Warrants
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CY2012 acad Lease Expiration Month And Year
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2013-12
CY2012 acad Stock Issued Employee Stock Purchase Plan Average Price Per Share
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0.60
CY2012 acad Deferred Compensation Arrangement With Individual Employer Contribution Percentage
DeferredCompensationArrangementWithIndividualEmployerContributionPercentage
1.00 pure
CY2012 acad Percentage Of Company Matching Contributions To Maximum Each Employees Eligible Compensation
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0.05 pure
CY2012 acad Percentage Of Employee Contribution Under Deferred Compensation Plan
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0.60 pure
CY2012 acad Closing Market Price Of Common Stock
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4.65
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2700000
CY2012 acad Income Tax Expense Permanent Tax Differences
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209000
CY2012 acad Class Of Warrant Or Right Exercised
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1172774 shares
CY2011Q1 us-gaap Earnings Per Share Basic And Diluted
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435000
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-5833000
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-0.12
CY2011Q2 us-gaap Revenues
Revenues
460000
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450000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-6218000
CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2012Q2 us-gaap Revenues
Revenues
599000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-5419000
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2011Q3 us-gaap Revenues
Revenues
584000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-5076000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2012Q3 us-gaap Revenues
Revenues
3478000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-2402000
CY2011Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2011Q4 us-gaap Revenues
Revenues
588000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-5300000
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2012Q4 us-gaap Revenues
Revenues
380000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-6810000

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