Acadia Pharmaceuticals names new EVP of Research and Development

SAN DIEGO - Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) announced today the appointment of Dr. Elizabeth H. Z. Thompson as the Executive Vice President, Head of Research and Development. Dr. Thompson will be part of the company's Executive Leadership Team, directly reporting to the CEO, Steve Davis.

Dr. Thompson brings a wealth of experience to Acadia, having held leadership positions in several biopharmaceutical companies. She joins Acadia from Amgen (NASDAQ:), where she served as Executive Vice President, Research and Development (Rare Disease) following Amgen's acquisition of Horizon Therapeutics (NASDAQ:) plc.

At Horizon, she was instrumental in advancing the company's R&D goals and has a track record of involvement in the development and commercialization of groundbreaking therapies.

Her previous roles include various positions at AbbVie (NYSE:), Raptor, InterMune, and Amgen, working across clinical development, business development, and medical communications. Dr. Thompson has been part of teams responsible for several significant drugs, such as TEPEZZA®, KRYSTEXXA®, UPLIZNA®, RAVICTI®, SKYRIZI®, ESBRIET®, and ENBREL®.

In her new role, Dr. Thompson will oversee the development of Acadia's early and late-stage assets, focusing on rare disease and central nervous system disorders. She will also explore opportunities to expand the company's pipeline of medicines.

CEO Steve Davis expressed confidence in Thompson's ability to contribute to the company's growth, citing her expertise and passion for developing new medicines that meet high unmet needs.

Dr. Thompson expressed her enthusiasm about joining Acadia, highlighting the company's commercial products and pipeline potential, and emphasizing the opportunity for long-term growth.

Acadia Pharmaceuticals is known for its neuroscience breakthroughs, including the development of the first FDA-approved drugs for Parkinson’s disease psychosis and Rett syndrome. The company is currently advancing its clinical-stage development efforts in areas such as Prader-Willi syndrome and Alzheimer’s disease psychosis.

This announcement is based on a press release statement from Acadia Pharmaceuticals Inc.

InvestingPro Insights

Acadia Pharmaceuticals (NASDAQ:ACAD) has been making strategic moves to strengthen its executive team and bolster its R&D pipeline, which could be significant for investors monitoring the company's potential growth trajectory.

According to real-time data from InvestingPro, Acadia currently holds a market cap of $2.98 billion USD, which is reflective of investor sentiment and market confidence in the company's future.

The company's financial health is a critical factor, and an InvestingPro Tip highlights that Acadia holds more cash than debt on its balance sheet, which can provide flexibility for future investments and operations. Additionally, Acadia's revenue has seen substantial growth over the last twelve months as of Q4 2023, with a 40.45% increase, indicating a strong sales performance.

Investors should note that Acadia's stock has been trading near its 52-week low, which, combined with an RSI suggesting the stock is in oversold territory, might present a potential entry point for those looking to invest. Furthermore, with analysts predicting the company will be profitable this year, there's an optimistic outlook for its earning potential.

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