Needham & Company Maintains a 'Hold' on Acadia Pharmaceuticals (ACAD); Continues Enrolling Patients in its Phase 3 Trial of Pimavanserin
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Price: $28.24 -0.49%
Rating Summary:
17 Buy, 10 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Acadia Pharmaceuticals (NASDAQ: ACAD).
Needham analyst says, "ACADIA continues to enroll patients in its Phase 3 trial of pimavanserin in Parkinson’s disease psychosis (PDP; Study 020). Although no details on enrollment progress have been disclosed to-date, management has consistently guided for results in mid-2012. Two successful Phase 3 trials will be needed for approval in this indication."
"We remain cautious on the pimavanserin PDP effort due to disappointing results in two previous Phase 3 trials. Based on a retrospective analysis of data from these trials, management believes that certain changes in trial design could lead to a positive outcome. These include use of a central rater and enrolling only U.S. patients to minimize rating variability, social therapy lead-in prior to randomization to minimize placebo response, and use of fewer items on the SAPS scale in assessing patients. ACADIA has determined that only a few of the SAPS items are relevant in PDP. Insufficient data from subset analyses have been disclosed to enable us to determine whether these changes will have a favorable impact on Study 020 outcome."
For more ratings news on Acadia Pharmaceuticals click here and for the rating history of Acadia Pharmaceuticals click here.
Shares of Acadia Pharmaceuticals closed at $1.25 yesterday.
Needham analyst says, "ACADIA continues to enroll patients in its Phase 3 trial of pimavanserin in Parkinson’s disease psychosis (PDP; Study 020). Although no details on enrollment progress have been disclosed to-date, management has consistently guided for results in mid-2012. Two successful Phase 3 trials will be needed for approval in this indication."
"We remain cautious on the pimavanserin PDP effort due to disappointing results in two previous Phase 3 trials. Based on a retrospective analysis of data from these trials, management believes that certain changes in trial design could lead to a positive outcome. These include use of a central rater and enrolling only U.S. patients to minimize rating variability, social therapy lead-in prior to randomization to minimize placebo response, and use of fewer items on the SAPS scale in assessing patients. ACADIA has determined that only a few of the SAPS items are relevant in PDP. Insufficient data from subset analyses have been disclosed to enable us to determine whether these changes will have a favorable impact on Study 020 outcome."
For more ratings news on Acadia Pharmaceuticals click here and for the rating history of Acadia Pharmaceuticals click here.
Shares of Acadia Pharmaceuticals closed at $1.25 yesterday.
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