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SAN DIEGO - Acadia Pharmaceuticals Inc. (NASDAQ: ACAD), a $2.9 billion market cap neuroscience company with strong financial health according to InvestingPro data, has granted inducement awards to thirteen new employees as part of its 2024 Inducement Plan, the company reported Monday. The awards, approved by the Compensation Committee of the Board of Directors, are intended to incentivize the new hires as part of their employment package.
The inducement awards consist of non-qualified stock options to purchase 71,981 shares of common stock and 42,159 restricted stock units (RSUs). The stock options come with an exercise price of $18.08 per share, equivalent to Acadia’s closing stock price on March 5, 2025, and will vest over a four-year period. One-quarter of the shares will vest on the one-year anniversary of the grant date, with the remainder vesting monthly over the following 36 months, provided the employees remain with the company.
Similarly, the RSUs are set to vest over a four-year timeline, with half of the shares vesting on the second anniversary of the grant date and the rest in two equal annual installments thereafter, contingent on ongoing employment with Acadia.
These inducement awards are subject to the terms of Acadia’s 2024 Inducement Plan and the award agreement specific to the grant. This move aligns with Nasdaq Listing Rule 5635(c)(4), which allows for such inducements to be used as a material factor in hiring new employees. The company’s strong financial position is reflected in its impressive 31.8% revenue growth over the last twelve months and a healthy P/E ratio of 12.9.
Acadia Pharmaceuticals, known for its focus on neuroscience breakthroughs, has developed and commercialized the first and only FDA-approved drug for hallucinations and delusions associated with Parkinson’s disease psychosis, as well as a treatment for Rett syndrome in the United States and Canada. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt, and comprehensive research reports available on the platform indicate potential upside based on the current Fair Value assessment. Get access to 8 more exclusive ProTips and detailed financial metrics with an InvestingPro subscription. The company continues its clinical-stage development efforts in areas such as Prader-Willi syndrome, Alzheimer’s disease psychosis, and other neuroscience and neuro-rare diseases.
The information reported is based on a press release statement from Acadia Pharmaceuticals.
In other recent news, Acadia Pharmaceuticals reported a strong financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $259.6 million. The company achieved total revenue of $957.8 million for the year, marking a 32% increase from the previous year. DAYBUE, a key product for Acadia, saw its sales soar by 97% in 2024, contributing significantly to the company’s growth. Acadia has provided optimistic revenue guidance for 2025, projecting total revenue between $1.03 billion and $1.095 billion, with DAYBUE sales expected to reach between $380 million and $450 million.
In terms of analyst activity, TD Cowen maintained a Buy rating on Acadia with a price target of $35, following the company’s earnings report that surpassed expectations. Conversely, Citizens JMP adjusted its price target for Acadia shares to $37 from $39, while retaining a Market Outperform rating, citing revised projections for DAYBUE. Acadia’s clinical developments continue to advance, with a Phase 2 trial for ’204 in Lewy Body Dementia planned for the third quarter of 2025, and results from a Phase 3 trial in Prader-Willi Syndrome expected in the first half of 2026.
Additionally, Acadia announced the safety and tolerability of DAYBUE for young Rett syndrome patients based on a study published in the journal Med. The study, which supported the FDA’s approval of DAYBUE for patients two years and older, highlighted improvements in communication and motor skills. These developments reflect Acadia’s ongoing efforts to expand its market position and deliver value to both patients and shareholders.
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