ACADIA Pharmaceuticals (ACAD) Makes Weak Move On Update
It seems like terribly unimportant information. ACADIA Pharmaceuticals (ACAD) is trading higher on news that provided an update on its Phase III program with pimavanserin for Parkinson’s disease psychosis (PDP), which is being pursued in collaboration with Biovail Laboratories International SRL (“Biovail”), a subsidiary of Biovail Corporation. Following the announcement on September 1st of disappointing top-line results from the first Phase III PDP trial, ACADIA and Biovail remain committed to the successful development of pimavanserin and have established a development strategy that they believe will strengthen the PDP program. The parties also intend to pursue adjunctive therapy with pimavanserin for schizophrenia as a third indication in the collaboration.
Hardly a reason for the shares to $1.87 which is up 13%. At least that is well below the 52-week high of $6.
Douglas A. McIntyre
