2014 Q4 Form 10-Q Financial Statement
#000119312514406106 Filed on November 10, 2014
Income Statement
Concept | 2014 Q4 | 2014 Q3 | 2013 Q3 |
---|---|---|---|
Revenue | $47.00K | $15.00K | $240.0K |
YoY Change | 27.03% | -93.75% | -93.1% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $10.40M | $8.100M | $3.800M |
YoY Change | 141.86% | 113.16% | 153.33% |
% of Gross Profit | |||
Research & Development | $18.20M | $16.95M | $7.254M |
YoY Change | 130.38% | 133.69% | 64.86% |
% of Gross Profit | |||
Depreciation & Amortization | $60.00K | $60.00K | $40.00K |
YoY Change | 50.0% | 50.0% | 33.33% |
% of Gross Profit | |||
Operating Expenses | $28.60M | $25.01M | $11.05M |
YoY Change | 134.43% | 126.31% | 87.78% |
Operating Profit | -$24.99M | -$10.81M | |
YoY Change | 131.19% | 349.15% | |
Interest Expense | $200.0K | $208.0K | $116.0K |
YoY Change | 100.0% | 79.31% | 2220.0% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$28.40M | -$24.80M | -$10.70M |
YoY Change | 136.67% | 131.78% | 345.83% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$28.37M | -$24.79M | -$10.70M |
YoY Change | 135.42% | 131.75% | 345.25% |
Net Earnings / Revenue | -60353.19% | -165240.0% | -4456.25% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$291.6K | -$249.2K | -$119.6K |
COMMON SHARES | |||
Basic Shares Outstanding | 99.77M shares | 99.44M shares | 88.78M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2014 Q4 | 2014 Q3 | 2013 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $322.5M | $337.8M | $196.2M |
YoY Change | 73.58% | 72.19% | 749.26% |
Cash & Equivalents | $61.85M | $36.37M | $11.80M |
Short-Term Investments | $260.6M | $301.4M | $184.4M |
Other Short-Term Assets | $1.200M | $2.100M | $2.500M |
YoY Change | -33.33% | -16.0% | 316.67% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $324.6M | $341.1M | $198.7M |
YoY Change | 72.34% | 71.67% | 738.82% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $553.0K | $520.0K | $490.0K |
YoY Change | -4.49% | 6.12% | 677.78% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $287.0K | $178.0K | $120.0K |
YoY Change | 60.34% | 48.33% | 5900.0% |
Total Long-Term Assets | $840.0K | $698.0K | $610.0K |
YoY Change | 10.82% | 14.43% | 838.46% |
TOTAL ASSETS | |||
Total Short-Term Assets | $324.6M | $341.1M | $198.7M |
Total Long-Term Assets | $840.0K | $698.0K | $610.0K |
Total Assets | $325.5M | $341.8M | $199.3M |
YoY Change | 72.09% | 71.49% | 739.09% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.016M | $1.110M | $1.120M |
YoY Change | 441.94% | -0.89% | -0.97% |
Accrued Expenses | $13.82M | $10.13M | $6.670M |
YoY Change | 110.9% | 51.84% | 42.34% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $15.83M | $11.25M | $7.870M |
YoY Change | 126.88% | 42.99% | 29.31% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $100.0K | $0.00 | $10.70M |
YoY Change | -100.0% | ||
Total Long-Term Liabilities | $135.0K | $21.00K | $2.000K |
YoY Change | 1587.5% | 950.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $15.83M | $11.25M | $7.870M |
Total Long-Term Liabilities | $135.0K | $21.00K | $2.000K |
Total Liabilities | $15.97M | $11.27M | $7.872M |
YoY Change | 128.55% | 43.22% | 29.35% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$498.1M | -$469.8M | -$393.6M |
YoY Change | 22.8% | 19.35% | 9.06% |
Common Stock | $10.00K | $10.00K | $9.000K |
YoY Change | 11.11% | 11.11% | 50.0% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $309.5M | $330.5M | $180.8M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $325.5M | $341.8M | $199.3M |
YoY Change | 72.09% | 71.49% | 739.09% |
Cashflow Statement
Concept | 2014 Q4 | 2014 Q3 | 2013 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$28.37M | -$24.79M | -$10.70M |
YoY Change | 135.42% | 131.75% | 345.25% |
Depreciation, Depletion And Amortization | $60.00K | $60.00K | $40.00K |
YoY Change | 50.0% | 50.0% | 33.33% |
Cash From Operating Activities | -$17.80M | -$17.48M | -$9.470M |
YoY Change | 73.32% | 84.58% | 78.34% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$90.00K | -$80.00K | -$430.0K |
YoY Change | -30.77% | -81.4% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $40.57M | $38.96M | -$3.520M |
YoY Change | 319.54% | -1206.82% | 28.47% |
Cash From Investing Activities | $40.48M | $38.87M | -$3.950M |
YoY Change | 323.87% | -1084.05% | 44.16% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 2.810M | 1.280M | 970.0K |
YoY Change | 346.03% | 31.96% | -85.86% |
NET CHANGE | |||
Cash From Operating Activities | -17.80M | -17.48M | -9.470M |
Cash From Investing Activities | 40.48M | 38.87M | -3.950M |
Cash From Financing Activities | 2.810M | 1.280M | 970.0K |
Net Change In Cash | 25.49M | 22.67M | -12.45M |
YoY Change | -28422.22% | -282.09% | 946.22% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$17.80M | -$17.48M | -$9.470M |
Capital Expenditures | -$90.00K | -$80.00K | -$430.0K |
Free Cash Flow | -$17.71M | -$17.40M | -$9.040M |
YoY Change | 74.65% | 92.48% |
Facts In Submission
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dei |
Trading Symbol
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|
ACAD | ||
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Entity Registrant Name
EntityRegistrantName
|
ACADIA PHARMACEUTICALS INC | ||
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AmendmentFlag
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false | ||
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Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
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Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | ||
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Document Type
DocumentType
|
10-Q | ||
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Document Period End Date
DocumentPeriodEndDate
|
2014-09-30 | ||
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Entity Central Index Key
EntityCentralIndexKey
|
0001070494 | ||
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Current Fiscal Year End Date
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|
--12-31 | ||
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Q3 | ||
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Weighted Average Number Of Share Outstanding Basic And Diluted
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|
97210000 | shares | |
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Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>10. Recent Accounting Pronouncements</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> In May 2014, the Financial Accounting Standards Board (“FASB”) issued authoritative accounting guidance related to revenue from contracts with customers<i>.</i> This guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Company will adopt this guidance on January 1, 2017. Companies may use either a full retrospective or a modified retrospective approach to adopt this guidance. The Company is evaluating which transition approach to use and its impact, if any, on its consolidated financial statements and related disclosures.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In August 2014, the FASB issued authoritative accounting guidance related to an entity’s ability to continue as a going concern. This guidance will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The new standard is effective for annual reporting periods ending after December 15, 2016 and early adoption is permitted. The Company intends to adopt this guidance at the beginning of its first quarter of fiscal year 2016 and does not expect it to have a material impact on its consolidated financial statements and related disclosures.</p> </div> | ||
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9699000 | shares | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.66 | ||
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Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y10M24D | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
86000 | ||
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
29000 | ||
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-1000 | ||
us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
307211000 | ||
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
567000 | ||
us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
389000 | ||
us-gaap |
Revenues
Revenues
|
72000 | ||
CY2013Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
11051000 | |
CY2013Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7254000 | |
CY2014Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
99497000 | shares |
CY2014Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9753000 | shares |
CY2014Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.25 | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
307000 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-64080000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-64676000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-64109000 | ||
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-345000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
201044000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
22328000 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
24662000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-127749000 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
64748000 | ||
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-40000 | ||
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3576000 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
738000 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
201044000 | ||
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
13000 | ||
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
179548000 | ||
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Depreciation
Depreciation
|
145000 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
11394000 | ||
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Research And Development Expense
ResearchAndDevelopmentExpense
|
42420000 | ||
us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
CY2014Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
7360000 | shares |
CY2014Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
196800000 | |
CY2013 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
CY2013Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
89504000 | shares |
CY2013Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10523000 | shares |
CY2013Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.12 | |
CY2013Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
110000 | |
CY2013Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
116000 | |
CY2013Q3 | us-gaap |
Revenues
Revenues
|
240000 | |
CY2013Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10585000 | |
CY2013Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10811000 | |
CY2013Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10695000 | |
CY2013Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3797000 | |
CY2014Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-17000 | |
CY2014Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
208000 | |
CY2014Q3 | us-gaap |
Revenues
Revenues
|
15000 | |
CY2014Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-24803000 | |
CY2014Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-24994000 | |
CY2014Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-24786000 | |
CY2014Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
8057000 | |
CY2014Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
25009000 | |
CY2014Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
16952000 |