Acadia Pharmaceuticals Inc.: Drug Trial Disappointment

In a recent development, shares of Acadia Pharmaceuticals Inc. experienced a 15% drop in the extended session on Monday. This sudden decline was prompted by news that one of the pharma company's drugs failed to achieve the desired outcomes in a late-stage trial related to schizophrenia treatment.

Disappointing Results for Pimavanserin

Acadia's pimavanserin, known as Nuplazid in the market, fell short of demonstrating a statistically significant improvement over a placebo in alleviating certain symptoms of schizophrenia, as confirmed by the company itself. Despite the drug's long-standing presence in the market and FDA approval for addressing hallucinations and delusions linked to Parkinson's disease psychosis, it did not meet expectations in this specific trial.

CEO Expresses Disappointment

Expressing his disappointment, Acadia's Chief Executive, Steve Davis, shared his sentiments in a statement. He emphasized the significant unmet needs of patients grappling with negative symptoms of schizophrenia, underscoring the letdown caused by the trial results.

Future Plans and Market Comparison

While Acadia plans to conduct further analysis of the data from the study, no additional clinical trials involving pimavanserin are currently on the horizon. Over the past year, Acadia's shares have seen an 18% increase, although this pales in comparison to the 33% gains observed in the S&P 500 index.