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ARTICLE | Company News

Acadia soars on pimavanserin update

April 11, 2013 11:33 PM UTC

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) jumped $5.13 (64%) to $13.10 on Thursday after announcing that FDA said existing data, including a single Phase III trial, were sufficient to support an NDA for pimavanserin to treat Parkinson's disease psychosis (PDP). As a result, the company said it will no longer conduct the confirmatory Phase III ACP-103-021 trial, which was originally slated to start this month. Acadia's Thursday's stock move translates to a $404 million gain in market cap for a closing valuation of $1 billion. ...