Item 2.05 Costs Associated with Exit or Disposal Activities.

On October 6, 2009, ACADIA Pharmaceuticals Inc. (the "Company") announced that it intended to implement cost-saving measures to further streamline its operations, reduce its internal operating expenses, and provide added financial flexibility, following the disappointing results of its first Phase III trial with pimavanserin. On October 15, 2009, the Company initiated a restructuring designed to implement these measures, focus resources on its most advanced programs, and extend its cash runway. The restructuring was approved by the Company's Board of Directors on October 14, 2009. In connection with the restructuring, the Company plans to reduce its total workforce by about 50 percent to 28 employees. The Company expects to complete the workforce reduction by October 19, with the exception of a few employees helping to transition matters. The Company estimates that it will record charges of approximately $1.3 million during the fourth quarter of 2009 for employment termination costs payable in cash in connection with the workforce reduction.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In connection with the reduction in workforce discussed in Item 2.05, two of the Company's named executive officers, Bo-Ragnar Tolf, Vice President, Chemistry, and John Kaiser, Vice President, Marketing and Strategic Development, will be leaving due to the elimination of their positions at the Company. Dr. Tolf's last day of employment will be December 15, after he assists with transitioning certain matters this year. Mr. Kaiser's last day of employment will be October 19.

Forward-Looking Statements

Certain statements in this report that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements relating to cost savings and charges expected to result from the restructuring. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the difficulty in forecasting actual costs and savings resulting from a restructuring. For a discussion of these and other factors, please refer to ACADIA's annual report on Form 10-K for the year ended December 31, 2008 as well as other subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and ACADIA undertakes no obligation to revise or update this report to reflect events or circumstances after the date hereof.

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