Will ACADIA Pharmaceuticals Inc (NASDAQ:ACAD)’s Pimavaserin Sail Through?

Posted by sara Frank October 10, 2013 0 Comment 2620 views

At the start of this month, ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) hit a record-high. This was attributed to the positive Phase-II results of pimavaserin. This is a treatment for psychosis that is a result of Parkinson’s disease. In addition to this study result, the company has also launched a Phase II study on another related-treatment for psychosis caused by Alzheimer’s. Analysts say that the stock definitely has some scope for growth as the company has a sufficient cash-stock to see it through till the Food Drug Administration decision comes through in 2015. Though that is not immediate, for a company like ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) which is a development stage biotechnology company, the stock trends follow pipeline-catalysts rather than the revenue or earnings projections.

Wednesday’s trading

In Wednesday’s trading, ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) dropped by 14.76%. The opening price of the shares was $23.81, which was also the intraday high and dipped to a close of $19.86. Approximately 10.09 million shares were traded on Wednesday while an average volume of 2.33 million shares were traded over a 30 day period. The 52-week low of ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) shares is $1.80 and its 52-week high is $29.73. The company has a market capitalization of $1.76 billion.

About the company

ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) is a bio-pharma company. It focuses on small-molecule drugs that address various unmet medical-needs in neurological and related central-nervous system disorders. ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) has 4 product candidates that are in clinical development and pimavaserin is the company’s lead drug.

The lead candidate

This is currently in Phase-III development as a 1st in-class treatment used for those suffering from psychosis related to Parkinson’s disease. ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) holds worldwide commercialization rights to pimavanserin. Its clinical-stage product candidates are Pimavanserin, Muscarinic Agonist, Alpha Adrenergic Agonists and AM-831.

About sara Frank

Sara Frank is our chief congressional correspondent, Sara has covered the presidential campaign, Congress and congressional campaigns. Prior to that, she covered the U.S. House. Sarahas also worked covering the House, Senate and campaign finance. Among the numerous honors she has received for his reporting, Sara is the recipient of an Emmy Award from The National Academy of Television Arts and Sciences. She was also nominated four times for a national Cable Ace Award.

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