Acadia Pharmaceuticals (NASDAQ: ACAD) Principal Accounting Officer James Kihara sold 11,421 shares of common stock on June 26, 2026, in an open-market transaction.
The sale was disclosed through an SEC Form 4 filing and carried a transaction value of approximately $298,000, based on a weighted average price of $26.08 per share.
The disposition represented 46.60% of Kihara’s direct holdings before the sale, leaving him with 13,088 shares directly held post-transaction.
Post-transaction, his remaining direct stake carries an estimated value of approximately $331,000 based on the June 26, 2026 market close price.
This transaction stands as Kihara’s largest single open-market sale on record, more than doubling his previous sale of 5,401 shares on May 26, 2026.
His five-trade average prior to this transaction was approximately 4,964 shares per sale, making the June 26 disposal a significant outlier in both scale and proportion.
No derivative securities or indirect holdings were involved in the transaction, with all shares sold representing directly owned common stock.
Kihara’s sale was executed as part of a pre-established Rule 10b5-1 plan adopted in December 2025, a mechanism designed to allow insiders to sell shares at predetermined times without raising concerns about trading on non-public information.
The timing of the sale is notable, as Acadia shares were rising on news that the European Medicines Agency recommended the company’s Daybue drug be approved for sale in the European Union.
The weighted average sale price of $26.08 placed the transaction close to Acadia’s 52-week high of $28.35, suggesting Kihara moved while the stock was trading near peak levels.
Despite the insider activity, Acadia’s underlying business continues to perform well, with first-quarter 2026 revenue coming in at $268.1 million, up from $244.3 million in the prior-year period.
The company generated trailing twelve-month revenue of $1.10 billion and net income of $375.65 million, reflecting the commercial strength of its core product NUPLAZID, approved for Parkinson’s disease psychosis.
Acadia’s pipeline extends beyond NUPLAZID and includes late-stage candidates targeting Alzheimer’s disease psychosis, Rett syndrome, and pain management, positioning the company for potential future growth.
The company employs 653 people and focuses on central nervous system disorders, serving neurologists, psychiatrists, and healthcare providers treating patients with significant unmet medical needs.
While the 10b5-1 structure reduces concerns about opportunistic selling, investors will likely keep a close watch on further insider activity in ACAD shares in the months ahead.
