Acadia Pharmaceuticals Announces Executive Leadership Change

Rhea-AI Summary

Acadia Pharmaceuticals (Nasdaq: ACAD) announced the departure of Elena Ridloff, Chief Financial Officer, effective September 10, 2021, as she transitions to another biopharmaceutical firm. Mark Schneyer, Senior VP of Business Development, will serve as interim CFO while a formal search for a new CFO is conducted. CEO Steve Davis expressed gratitude for Ridloff's contributions to Acadia's growth and the pimavanserin franchise.

Positive

• Mark Schneyer's interim leadership may provide continuity and stability during the transition.
• Elena Ridloff's departure allows for potential fresh leadership perspectives in the CFO role.

Negative

• Leadership transition could create uncertainty regarding financial strategy and execution.
• Loss of CFO may impact ongoing projects and investor confidence.

SAN DIEGO--(BUSINESS WIRE)-- Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that Elena Ridloff, Executive Vice President and Chief Financial Officer (CFO), will be leaving the company effective September 10, 2021 to join another biopharmaceutical company. Mark Schneyer, Senior Vice President, Business Development and Chief Business Officer, will serve as Acadia’s interim Chief Financial Officer. The company is conducting a formal search for a new CFO.

“On behalf of all of us at Acadia, I want to thank Elena for her leadership and contributions which played an important role in supporting Acadia’s growth and long-term business strategy, and we wish her well in her future endeavors,” said Steve Davis, Chief Executive Officer.

“I want to thank my colleagues at Acadia for their partnership in driving growth of the pimavanserin franchise and advancing important therapies in our pipeline,” said Ms. Ridloff. “I’m confident the experienced Acadia team will continue to deliver on its mission for patients.”

About Acadia Pharmaceuticals

Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson’s disease psychosis. Our late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research we are exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia-pharm.com and follow us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901005923/en/

Media Contact:

Acadia Pharmaceuticals Inc.

Eric Endicott

(858) 914-7161

media@acadia-pharm.com



Investor Contact:

Acadia Pharmaceuticals Inc.

Mark Johnson, CFA

(858) 261-2771

ir@acadia-pharm.com

Source: Acadia Pharmaceuticals Inc.

FAQ

Who is the new interim CFO of Acadia Pharmaceuticals?

Mark Schneyer will serve as the interim Chief Financial Officer of Acadia Pharmaceuticals.

When did Elena Ridloff leave Acadia Pharmaceuticals?

Elena Ridloff left Acadia Pharmaceuticals effective September 10, 2021.

What position did Elena Ridloff hold at Acadia Pharmaceuticals?

Elena Ridloff served as the Executive Vice President and Chief Financial Officer.

Is Acadia Pharmaceuticals searching for a new CFO?

Yes, Acadia Pharmaceuticals is conducting a formal search for a new CFO.