Acadia Pharmaceuticals Inc.’s late-stage drug pimavanserin demonstrated statistically significant efficacy in patients with Parkinson’s disease psychosis in a Phase III trial, reigniting investor interest in the asset, which failed to demonstrate efficacy in an initial Phase III trial back in 2009. Acadia announced the new data Nov. 27, sending the company’s shares up 181% in pre-market trading to open at $6.48.The stock closed the day up 136% at $5.43.
The positive news marks a turning point for Acadia, which has held out hope for pimavanserin even after the first...
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