The FDA has just added a fresh boost to Acadia Pharmaceuticals, naming its late-stage Parkinson's drug pimavanserin a "breakthrough" therapy deserving rapid regulatory response as it nears the finish line with a closely watched marketing application.
Shares of Acadia Pharmaceuticals shot up 44% this morning after the San Diego-based biotech announced that the FDA had signed off on a new timeline allowing the biotech to skip a confirmatory late-stage study for their Parkinson's psychosis drug pimavanserin and move straight ahead with a new drug application after tying up some loose ends in the clinic.
Shares of San Diego-based Acadia Pharmaceuticals surged 28% this morning after the biotech spelled out some of its Phase III data on pimavanserin, its experimental therapy for treating psychosis in Parkinson's patients.
Acadia Pharmaceuticals' stock jumped 10.16% to $4.88 late this morning after news of the private placement of shares for $4.43 per share that is expected to close Dec. 17.
Acadia Pharmaceuticals heralded positive pivotal data for its late-stage Parkinson's contender pimavanserin this morning, marking a big turnaround or a program that had spurred more doubt than hope when a similar Phase III effort was scuttled by a big placebo effect back in 2009.
Acadia Pharmaceuticals ($ACAD) may have struck two birds with one stone thanks to its pipeline drug pimavanserin. The drug, which is in Phase III development to treat Parkinson's disease psychosis, may also combat psychosis in Alzheimer's patients, according to the company.
Acadia Pharmaceuticals and Biovail, a subsidiary of Valeant Pharmaceuticals, said this morning that they have ended the collaboration agreement on pimavanserin, a drug for Parkinson's. Last year the
The placebo effect has scuttled the late-stage study of an experimental Parkinson's therapy being co-developed by Acadia Pharmaceuticals and Biovail, and the news immediately triggered a meltdown in
Speculation on as yet unreleased data from a late stage trial of Acadia Pharmaceuticals' experimental drug for Parkinson's disease psychosis has fueled unexpectedly heavy activity among investors on
Acadia Pharmaceuticals will pocket $30 million upfront and stands to earn another $365 million in milestones from Biovail as they pursue an approval for a late-stage drug designed to treat