SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULES 13d-1(b), (c) AND (d)
AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)*
Acadia Pharmaceuticals Inc.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
004225108
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(CUSIP Number)
December 31, 2005
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Date of Event which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 004225108 13G Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
Biotechnology Value Fund, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 268,075
WITH
----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
268,075
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
268,075
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.1%
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 004225108 13G Page 3 of 11 Pages
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1 NAME OF REPORTING PERSON
Biotechnology Value Fund II, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 158,500
WITH ----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
158,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
158,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.7%
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 004225108 13G Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
BVF Investments, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 465,000
WITH -----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
465,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
465,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.9%
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12 TYPE OF REPORTING PERSON (See Instructions)
OO
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CUSIP No. 004225108 13G Page 5 of 11 Pages
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1 NAME OF REPORTING PERSON
Investment 10, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 51,800
WITH
----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
51,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,800
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.2%
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12 TYPE OF REPORTING PERSON (See Instructions)
OO
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CUSIP No. 004225108 13G Page 6 of 11 Pages
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1 NAME OF REPORTING PERSON
BVF Partners L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 943,375
WITH
----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
943,375
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
943,375
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9%
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 004225108 13G Page 7 of 11 Pages
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1 NAME OF REPORTING PERSON
BVF Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 943,375
WITH ----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
943,375
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
943,375
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9%
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12 TYPE OF REPORTING PERSON (See Instructions)
IA, CO
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CUSIP No. 004225108 13G Page 8 of 11 Pages
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Item 1(a). Name of Issuer:
Acadia Pharmaceuticals Inc. ("Acadia")
Item 1(b). Address of Issuer's Principal Executive Offices:
3911 Sorrento Valley Blvd.
San Diego, CA 92121
Item 2(a). Names of Person Filing
This Amendment No. 2 to to Schedule 13G is being filed on behalf of the
following persons (the "Reporting Persons"):
(i) Biotechnology Value Fund, L.P. ("BVF")
(ii) Biotechnology Value Fund II, L.P. ("BVF2")
(iii) BVF Investments, L.L.C. ("Investments")
(iv) Investment 10, L.L.C. ("ILL10")
(v) BVF Partners L.P. ("Partners")
(vi) BVF Inc. ("BVF Inc.")
Item 2(b). Address of Principal Business Office or, if none, Residence:
The principal business office of the Reporting Persons comprising the group
filing this Amendment No. 2 to Schedule 13G is located at 900 North Michigan
Avenue, Suite 1100, Chicago, Illinois, 60611.
Item 2(c). Citizenship or Place of Organization:
BVF: a Delaware limited partnership
BVF2: a Delaware limited partnership
Investments: a Delaware limited liability company
ILL10: an Illinois limited liability company
Partners: a Delaware limited partnership
BVF Inc.: a Delaware corporation
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CUSIP No. 004225108 13G Page 9 of 11 Pages
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Item 2(d). Title of Class of Securities:
This Amendment No. 2 to Schedule 13G is being filed with respect to the
common stock, par value $0.0001 per share (the "Common Stock"), of Acadia. The
Reporting Persons' percentage ownership of Common Stock is based on 24,332,785
shares of Common Stock being outstanding as of January 16, 2005, as reported on
Acadia's Registration Statement on Form S-3 filed with the Securities and
Exchange Commission on January 18, 2006.
As of December 31, 2005, (i) BVF beneficially owned 268,075 shares of
Common Stock; (ii) BVF2 beneficially owned 158,500 shares of Common Stock; (iii)
Investments beneficially owned 465,000 shares of Common Stock; and (iv) ILL10
beneficially owned 51,800 shares of Common Stock . Beneficial ownership by
Partners and BVF Inc. includes 943,375 shares of Common Stock.
Item 2(e). CUSIP Number:
004225108
Item 3. If this Statement is Filed Pursuant to Rule 13d-1(B), or 13d-2(B) or (C)
Check Whether the Person Filing is: One of the Following
Not applicable as this Amendment No. 2 to Schedule 13G is filed pursuant to
Rule 13d-1(c).
Item 4. Ownership
The information in items 1 and 5 through 11 on the cover pages (pp. 2 - 7)
on this Amendment No. 2 to Schedule 13G is hereby incorporated by reference.
Item 5. Ownership of 5 Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the Reporting Persons have ceased to be the beneficial owner of more than
five percent of the class of securities check the following. /x/
Item 6. Ownership of More than 5 Percent on Behalf of Another Person
Pursuant to the operating agreement of Investments, Partners is authorized,
among other things, to invest funds of Ziff Asset Management, L.P., the majority
member of Investments, in shares of Common Stock described herein and to vote
and exercise dispositive power over those securities. Partners and BVF Inc.
share voting and dispositive power over the shares of Common Stock beneficially
owned by BVF, BVF2, Investments and those owned by ILL10, on whose behalf
Partners acts as investment manager and, accordingly, Partners and BVF Inc. have
beneficial ownership of all of the shares of Common Stock held by such parties.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Securities Being Reported on By the Parent Holding Company
Not Applicable.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
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CUSIP No. 004225108 13G Page 10 of 11 Pages
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Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 10, 2006
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
----------------------------
Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
----------------------------
Mark N. Lampert
President
BVF INVESTMENTS, L.L.C.
By: BVF Partners L.P., its manager
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
----------------------------
Mark N. Lampert
President
INVESTMENT 10, L.L.C.
By: BVF Partners L.P., its attorney-in-fact
By: BVF Inc., its general partner
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CUSIP No. 004225108 13G Page 11 of 11 Pages
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By: /s/ MARK N. LAMPERT
----------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
----------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
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Mark N. Lampert
President