Australia's Neuren Pharmaceuticals tumbles on weak sales from US drug licensee

Acadia Pharmaceuticals

09/05/2024 03:25

** Shares of Neuren Pharmaceuticals  NEU.AX  fall as much as
10.6% to A$17.970, their lowest since Dec. 13, 2023
    ** Stock posts its biggest intraday percentage decline since
Feb. 28
    ** Brain disorder drug maker says quarterly sales of co's
drug licensed to U.S.-based Acadia Pharmaceuticals  ACAD.O  came
below expectations
    ** Says ACAD's first quarter sales of co's drug DAYBUE were
$75.9 mln, missing the forecast range of $76 mln to $82 mln
    ** About 541,000 shares change hands, compared with the
30-day average volume of around 299,000
    ** Stock down 19.5% YTD, based on last close
 


 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))