There was unusually heavy trading in airline and insurance stocks several days before Sept.11, which essentially bet on a drop in the worth of the stocks.
As of June 30, 2009, the company had $70 million in total assets, $66.2 million of which was comprised of cash and investment securities available for sale. Current liabilities total $20.9 million and shareholder’s equity stands at $26.4 million. ACADIA anticipates that its cash, cash equivalents and investment securities will be greater than $40 million at December 31, 2009, and that its existing cash resources and payments from its collaborations will be sufficient to fund its operations at least into the first half of 2011.
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