ACADIA (ACAD) Socked On Parkinson's Trial Failure

Shares of ACADIA Pharmaceuticals, Inc. (Nasdaq: ACAD) are down an amazing 70% today after the company said a Phase III trail for its Parkinson's drug failed to meet its primary endpoint.

After closing at $5.84 yesterday, shares of ACAD are set to open around $1.70 today.

ACADIA and partner Biovail Corporation (NYSE: BVF) said today that the Phase III study of pimavanserin in patients with Parkinson's disease psychosis, or PDP, did not meet its primary endpoint of antipsychotic efficacy as measured using the Scale for the Assessment of Positive Symptoms, or SAPS. Pimavanserin met the key secondary endpoint of motoric tolerability as measured using the Unified Parkinson's Disease Rating Scale, or UPDRS. Pimavanserin was safe and well tolerated, with the frequency of adverse events generally similar in the pimavanserin and placebo arms.

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