ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) targets on small molecule drugs, Hercules Offshore, Inc (NASDAQ:HERO)

Posted by Steve Raasch May 22, 2013 0 Comment 1144 views


ACADIA Pharmaceuticals Inc (NASDAQ:ACAD): In Tuesday’s trading session, ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) shares declined by 2.54%. Its closing price of $13.79 rose to touch an intraday high of $14.55 which eventually headed down to close at $13.50 per share. Over 3.45 million shares exchanged hands in the previous trading session. This number stood below the average volume of 5.28 million that was measured over a 30-day period.

ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has now been added to the NASDAQ Biotechnology Index. The company is currently up +1034.62% from the recent 52-week low that it stood at.

ACAD is a bio-pharma company that focuses on different small-molecule drugs that target unmet medical needs in neurological as well as related central-nervous system disorders. ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has four different product candidates that are in clinical development.  Pimavanserin is in its Phase III development stage as a first-in-class treatment of Parkinson’s disease psychosis. The company worldwide commercialization rights to pimavanserin. In addition to this, ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has a product candidate which is in Phase II development for the treatment of chronic pains.

Hercules Offshore, Inc (NASDAQ:HERO): In Tuesday’s trading session, Hercules Offshore, Inc (NASDAQ:HERO) shares down by 5.26%. Its closing price of $7.38 rose to touch an intraday high of $7.83 which eventually headed down to close at $7.35 per share. Over 3.12 million shares exchanged hands in the previous trading session. This number stood above the average volume of 3.04 million that was measured over a 30-day period.

HERO has agreed to sell 11 of its inland barge rigs. These include three active rigs, eight cold-stacked rigs as well as related-assets for $45 million. Excluding that divestiture, Hercules has also agreed to sell its Hercules 27 to a third-party for $5 million. The closing will be staggered and will be based on the expiration dates of its existing contracts on all the three active rigs. It is subject to the completion of some customary closing-conditions. Ten rigs are expected to be included in the initial closing rigs that are slated to take place late in the second-quarter. The closing on its final rig is expected in early part of the third-quarter.


About Steve Raasch

Steve Raasch is a breaking news reporter for GDP insider. During his nearly two decades of editorial experience, Steve has covered a variety of topics including small business, health, personal finance, advertising, workplace issues and consumer behavior. Steve is very passionate about his work. Steve earned a master of arts degree in international relations from the Johns Hopkins University School of Advanced International Studies in Washington.

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