Acadia Pharma (ACAD): Nuplazid KOL Follow-Up Call - Needham
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Needham & Company analyst, Alan Carr, reiterated his Buy rating on shares of Acadia Pharmaceuticals (NASDAQ: ACAD) after hosting a call last week with KOL Joseph Friedman of Brown University/Butler Hospital to discuss his experience with Nuplazid.
The drug was approved by FDA for Parkinson’s Disease Psychosis in Apr and launched in May 2016. Dr. Friedman has prescribed Nuplazid for ~15 pts to date. Initial feedback from 9 pts indicates the drug has been helpful in treatment-naive pts (3/4), but not in pts who have previously responded poorly to traditional antipsychotics (0/5).
Dr. Friedman has been impressed w/ safety and tolerability profile and plans to use the drug as front-line therapy. Because onset of action is relatively slow (3-6wks), he plans to continue to use quetiapine or clozapine in pts who need psychosis symptoms addressed immediately. There have been no major hurdles w/ payer coverage.
No change to the price target of $49.
Shares of Acadia Pharmaceuticals closed at $25.34 yesterday.
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