Acadia Pharmaceuticals shareholders got a strong dose of good news yesterday, when the company announced its ACP-103 schizophrenia treatment showed effectiveness in its Phase II trials. Shares shot up $6.92, or 103.44%, to $13.61 on the news. The company reported that when combined with other antipsychotic treatments, the trial showed a statistically significant level of efficacy as well as reduced negative side effects, including "a faster onset of antipsychotic action and 50% less weight gain,” according to Uli Hacksell, Acadia's CEO. According to Caancord analyst Jose Pantginis, "Acadia is such a small company, that even if it gets a sliver of that $13 to $14 billion [antipsychotic meds] pie, the impact to its bottom line would be huge."
Sources: ACADIA Announces Positive Results From ACP-103 Phase II Schizophrenia Co-Therapy Trial">Press Release, Forbes, MarketWatch, Reuters
Commentary: Acadia Jumps On Schizophrenia Drug Data • Biotech Day in Review: AtheroGenics Tumbles on Drug Test Failure
Stocks/ETFs to watch: Acadia Pharmaceuticals Inc. (ACAD). Competitors: Allergan (AGN), Johnson & Johnson (JNJ), Pfizer Inc. (PFE), Merck & Co. (MRK), Eli Lilly & Co. (LLY)
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