Published in Pharma Investments, Ventures and Law Weekly, June 12th, 2005
Acadia reported a net loss of $5.6 million for the first quarter of 2005, compared to a net loss of $6.5 million for the first quarter of 2004.
At March 31, 2005, Acadia's cash, cash equivalents and investment securities totaled $41.6 million compared to $35.9 million at December 31, 2004. The increase in cash was primarily due to Sepracor, Inc.'s purchase of shares of Acadia's common stock for $10 million at a 40% premium to a 30-day trailing average closing price, in connection with a new collaboration agreement, partially...
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