阿卡迪亚 2025年度报告

(Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission File Number: 000-50768 ACADIA PHARMACEUTICALS INC. ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Securities Exchange Act of 1934: Large accelerated filer☒Non-accelerated filer☐ Accelerated filerSmaller reporting companyEmerging growth companyIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received byany of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ As of June 30, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’scommon stock held by non-affiliates of the registrant was approximately $2.3 billion, based on the closing price of the registrant’s common stock on the NasdaqGlobal Select Market on June 30, 2025 of $21.57 per share. As of February 18, 2026, 170,494,613 shares of the registrant’s common stock, $0.0001 par value, were outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement to be filed with the Securities and Exchange Commission by April 30, 2026 are incorporated byreference into Part III of this report. ACADIA PHARMACEUTICALS INC. PART I Item 1.Business.Item 1A.Risk Factors.Item 1B.Unresolved Staff Comments.Item 1C.Cybersecurity.Item 2.Properties.Item 3.Legal Proceedings.Item 4.Mine Safety Disclosures. PART IIMarket for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Item 5.Securities.68Item 6.[Reserved]69Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.69Item 7A.Quantitative and Qualitative Disclosures About Market Risk.81Item 8.Financial Statements and Supplementary Data.81Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.81Item 9A.Controls and Procedures.81Item 9BOther Information.84Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections.84 PART IIIDirectors, Executive Officers and Corporate Governance. Item 10.85Item 11.Executive Compensation.85Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.85Item 13.Certain Relationships and Related Transactions, and Director Independence.85Item 14.Principal Accountant Fees and Services.85 PART IV Item 15.Exhibits and Financial Statement Schedules.Item 16.Form 10-K Summary 8690 PART I FORWARD-LOOKING STATEMENTS This report and the information incorporated herein by reference contain forward-looking statements that involve a number ofrisks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differmaterially from those expressed or implied by such forward-looking statements. Although our forward-looking statements reflectthe good faith judgment of our management, these statements can only be based on facts and