Acadia Pharma down as co to stop trials of antipsychotic drug

Acadia Pharmaceuticals

12/03/2024 09:12

** Shares of Acadia Pharmaceuticals  ACAD.O  down 17.4% at
$19.93 premarket
    ** Late Monday, co said it will stop further clinical trials
of antipsychotic drug pimavanserin after it failed to improve
negative symptoms of schizophrenia in a late-stage study
    ** The drug previously failed twice to secure regulatory
approval for the expanded use in the treatment of psychosis
related to dementia and Alzheimer's disease in 2021 and 2022,
respectively
    ** In 2016, pimavanserin, sold under the brand name
Nuplazid, became the first drug approved in the U.S. to treat
hallucinations and delusions associated with psychosis
experienced by some people with Parkinson's disease
    ** Nuplazid contributed $522.7 million in revenue last year,
making up nearly 72% of the company's total sales
    ** As of last close, stock down 22.9% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))