ACADIA Pharmaceuticals (ACAD) Shares Rise Sharply on Pimavanserin Update
More News related to ACAD
- Acadia Pharmaceuticals (ACAD) Tops Q3 EPS by 1c
- ACADIA Pharmaceuticals Reports Third Quarter 2009 Financial Results
- ACADIA Pharmaceuticals to Announce Third Quarter 2009 Financial Results on November 9, 2009
- ACADIA Pharmaceuticals to Present at the BIOCOM Investor Conference on October 26, 2009
- ACADIA Pharma (ACAD) to Cut Workforce by 50%
More News related to Corporate News
- GSI Technology (GSIT) Anounces Two New SRAM Products
- Playboy (PLA) Promotes Jimmy Jellinek to Chief Content Officer
- Federal Signal (FSS) Comments on Hearing Loss Litigation
- Lightning Strikes Twice, IBM (IBM) the Top Server Vendor
- American Capital (ACAS) Subsidiary Sells Body, Hand, and Foot Monitors to Duke Energy (DUK)
ACADIA Pharmaceuticals (Nasdaq: ACAD) is higher today after the company announced that they will continue testing pimavanserin in Parkinson's, despite news on September 1st of disappointing top-line results from the first Phase III PDP trial. ACADIA and partner Biovail also intend to pursue adjunctive therapy with pimavanserin for schizophrenia as a third indication in the collaboration.
Analysts from Needham maintain their HOLD rating, stating "Biovail's commitment to the pimavanserin program is encouraging and we remind investors of the compound's long-term potential in a range of CNS indications. However, we remain cautious overall given the weak efficacy signal in PDP and the reduced clinical news flow in the near term."
However, an analyst from Piper Jaffray maintained their UNDERWEIGHT rating. Piper Jaffray states that due to the failure of the 012 trial, and the lack of a 40mg dose, they do not expect the ongoing Phase IIi trial to succeed. They state that "...any approval in this indication is likely several years away and ACADIA's upside is limited to a 15% royalty."
ACADIA is up 23% to $2.04 intraday.
Related Categories
Analyst CommentsCorporate News
Momentum Movers
Stocks Mentioned
-0.05Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
