$ACAD
ACADIA PHARMACEUTICALS INC

2015 Q1 Form 10-K Financial Statement

#000119312515066078 Filed on February 26, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 Q4
Revenue $4.000K $120.0K $37.00K
YoY Change -86.67% -89.52% -90.26%
Cost Of Revenue $0.00
YoY Change
Gross Profit $100.0K
YoY Change
Gross Profit Margin 83.33%
Selling, General & Admin $24.30M $32.70M $4.300M
YoY Change 285.71% 157.48% 86.96%
% of Gross Profit 32700.0%
Research & Development $16.30M $60.60M $7.900M
YoY Change 39.66% 126.79% 61.22%
% of Gross Profit 60602.0%
Depreciation & Amortization $122.0K $206.0K $40.00K
YoY Change 183.72% 160.76% 100.0%
% of Gross Profit 206.0%
Operating Expenses $40.56M $93.35M $12.20M
YoY Change 125.46% 136.68% 69.44%
Operating Profit -$40.55M -$93.23M
YoY Change 125.82% 143.44%
Interest Expense $177.0K $755.0K $100.0K
YoY Change 36.15% 116.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$40.40M -$92.48M -$12.00M
YoY Change 126.97% 143.69% 76.47%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$40.38M -$92.48M -$12.05M
YoY Change 126.47% 143.69% 76.93%
Net Earnings / Revenue -1009375.0% -77062.5% -32564.86%
Basic Earnings Per Share
Diluted Earnings Per Share -$403.2K -$951.6K -$131.9K
COMMON SHARES
Basic Shares Outstanding 100.2M shares 90.87M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $297.9M $322.5M $185.8M
YoY Change -19.33% 73.57% 72.08%
Cash & Equivalents $76.42M $61.90M $11.71M
Short-Term Investments $221.5M $260.6M $174.1M
Other Short-Term Assets $1.300M $1.200M $1.800M
YoY Change -31.58% -33.33% 200.0%
Inventory
Prepaid Expenses $1.820M
Receivables
Other Receivables
Total Short-Term Assets $299.9M $324.6M $188.4M
YoY Change -19.56% 72.29% 73.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.786M $600.0K $579.0K
YoY Change 228.91% 0.0% 1278.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $278.0K $300.0K $179.0K
YoY Change 94.41% 50.0%
Total Long-Term Assets $2.064M $900.0K $758.0K
YoY Change 200.87% 28.57% 1704.76%
TOTAL ASSETS
Total Short-Term Assets $299.9M $324.6M $188.4M
Total Long-Term Assets $2.064M $900.0K $758.0K
Total Assets $302.0M $325.5M $189.1M
YoY Change -19.15% 72.13% 74.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.518M $2.000M $372.0K
YoY Change 61.2% 400.0% -72.95%
Accrued Expenses $14.13M $13.80M $6.552M
YoY Change 119.83% 109.09% 58.3%
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 $16.65M $15.80M $6.979M
YoY Change 107.28% 125.71% 17.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $100.0K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $218.0K $100.0K $8.000K
YoY Change 1576.92% -99.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.65M $15.80M $6.979M
Total Long-Term Liabilities $218.0K $100.0K $8.000K
Total Liabilities $16.87M $16.00M $6.987M
YoY Change 109.66% 128.57% 17.47%
SHAREHOLDERS EQUITY
Retained Earnings -$538.5M -$405.7M
YoY Change 27.16% 10.32%
Common Stock $10.00K $9.000K
YoY Change 0.0% 28.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $285.1M $309.5M $182.1M
YoY Change
Total Liabilities & Shareholders Equity $302.0M $325.5M $189.1M
YoY Change -19.15% 72.13% 74.16%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$40.38M -$92.48M -$12.05M
YoY Change 126.47% 143.69% 76.93%
Depreciation, Depletion And Amortization $122.0K $206.0K $40.00K
YoY Change 183.72% 160.76% 100.0%
Cash From Operating Activities -$25.35M -$66.43M -$10.27M
YoY Change 78.77% 109.1% 63.28%
INVESTING ACTIVITIES
Capital Expenditures $988.0K $180.0K -$130.0K
YoY Change 16366.67% -70.87%
Acquisitions
YoY Change
Other Investing Activities $39.46M -$87.09M $9.670M
YoY Change -139.81% -30.6% -127.58%
Cash From Investing Activities $38.47M -$87.27M $9.550M
YoY Change -138.82% -30.79% -127.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.439M $203.9M
YoY Change -99.27% 82.53%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.440M 203.9M 630.0K
YoY Change -99.27% 82.53% -99.31%
NET CHANGE
Cash From Operating Activities -25.35M -66.43M -10.27M
Cash From Investing Activities 38.47M -87.27M 9.550M
Cash From Financing Activities 1.440M 203.9M 630.0K
Net Change In Cash 14.56M 50.15M -90.00K
YoY Change -82.82% -208.57% -100.18%
FREE CASH FLOW
Cash From Operating Activities -$25.35M -$66.43M -$10.27M
Capital Expenditures $988.0K $180.0K -$130.0K
Free Cash Flow -$26.34M -$66.61M -$10.14M
YoY Change 85.66% 105.66%

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CY2014 dei Trading Symbol
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ACAD
CY2014 dei Entity Registrant Name
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ACADIA PHARMACEUTICALS INC
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CY2014 dei Entity Filer Category
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2014
CY2014 dei Document Type
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CY2014 dei Document Period End Date
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2014-12-31
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0001070494
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CY2014 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentrations of Risk</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">Financial instruments, which potentially subject the Company to concentrations of credit risk, principally consist of cash, cash equivalents, and investment securities. The Company currently invests its excess cash primarily in a money market fund, U.S. Treasury notes, and high quality, marketable debt instruments of corporations, financial institutions and government sponsored enterprises in accordance with the Company&#x2019;s investment policy. The Company&#x2019;s investment policy defines allowable investments and establishes guidelines relating to credit quality, diversification, and maturities of its investments to preserve principal and maintain liquidity. All investment securities have a credit rating of at least A3/A- or better, or P-1/A-1 or better, as determined by Moody&#x2019;s Investors Service or Standard&#xA0;&amp; Poor&#x2019;s.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">During the years ended December&#xA0;31, 2014, 2013 and 2012, revenues from the Company&#x2019;s agreements with certain collaborative partners exceeded 10 percent of its total revenues. During the year ended December&#xA0;31, 2014, revenues from Fast Forward, LLC and Allergan, Inc. comprised 59 percent and 33 percent of total revenues, respectively. During the year ended December&#xA0;31, 2013, revenues from Allergan, the National Institutes of Health, and The Michael J. Fox Foundation comprised 50 percent, 19 percent, and 15 percent of total revenues, respectively. During the year ended December&#xA0;31, 2012, revenues from Allergan and Meiji Seika Pharma Co., Ltd. comprised 23 percent and 66 percent of total revenues, respectively.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company does not currently have any of its own manufacturing facilities, and therefore relies on third-party manufacturers to produce its product candidates for clinical trials. Although there are potential sources of supply other than the Company&#x2019;s existing suppliers, any new supplier would be required to qualify under applicable regulatory requirements.</font></p> </div>
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Per their terms, the outstanding warrants to purchase 500,000 shares of common stock may not be exercised if the holder's ownership of the Company's common stock would exceed 19.99 percent following such exercise.
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NetIncomeLoss
-21495000
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2013Q3 us-gaap Revenues
Revenues
240000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-10695000
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.25
CY2014Q3 us-gaap Revenues
Revenues
15000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-24786000
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2013Q4 us-gaap Revenues
Revenues
37000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-12049000
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
CY2014Q4 us-gaap Revenues
Revenues
47000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-28366000

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