We have added ACADIA Pharmaceuticals Inc. (ACAD): Nasdaq to our featured and our watch list today and ask you to do some research on this company. We just love the pharma tech plays specially the smaller ones as they could have potential for big moves.
ACADIA Pharmaceuticals Inc. (ACAD) : Nasdaq ) Currently trading on the NASDAQ Exchange in the usa, Acadia focuses on drug discovery and clinical development of novel treatments for central nervous system disorders.
(ACAD) Suffered in September 2009 following negative results from a phase III study of the company’s lead drug pimavanserin in patients suffering from Parkinson’s disease psychosis.
(ACAD) shares tumbled from $6.00 to $2.00 and they are trading around $1.30 at close on 17th June 2009. (ACAD) is trading around the approximately the value of its cash position, as of March 31, 2010, they have approximately $40.6 million in cash, and a approximate $7M burn in 1Q10.
Drugs that arcadia are currently working with or have
In collaboration with Allergan, we have discovered and are developing a new class of small molecule product candidates for the treatment of chronic pain. Our novel alpha adrenergic agonists provide pain relief in a range of preclinical models, without the side effects of current pain therapies, including sedation and cardiovascular and respiratory effects.
Allergan has conducted several Phase II trials in this program and has reported preliminary results from its Phase II program, including positive proof-of-concept in a visceral pain trial in patients that had hypersensitivity of the esophagus, and efficacy signals in two chronic pain trials in the areas of fibromyalgia and irritable bowel syndrome. Allergan has announced that it is currently seeking a partner for the further development of this program and for commercialization in areas predominantly served by general practitioners.
Acadia have discovered and, in collaboration with Allergan, are developing AC-262271, a small molecule product candidate for the treatment of glaucoma. Using our proprietary drug discovery platform, we identified a subtype of the muscarinic receptors that controls intraocular pressure and discovered lead compounds that selectively activate this target. In preclinical models, AC-262271 has demonstrated a promising preclinical profile, including robust efficacy and a long duration of action. Allergan is currently conducting Phase I development with AC-262271.
Acadias collaborative partner, Biovail, has initiated a Phase III development program with pimavanserin as an adjunctive therapy for schizophrenia. By adding pimavanserin to a low dose of an antipsychotic drug such as risperidone, a commonly prescribed atypical antipsychotic drug, we believe that the optimal relationship between 5-HT2A blockade and partial dopamine receptor blockade can be achieved. Therefore, we believe that adjunctive therapy with pimavanserin may result in enhanced efficacy and fewer side effects relative to existing treatments, thereby providing an improved therapy for patients with schizophrenia and, potentially, related psychiatric disorders.
Biovail has announced that its currently plans to initiate a Phase III trial with pimavanserin as an adjunctive therapy for schizophrenia in mid-2010 after discussing development plans for this program with the FDA. This Phase III trial is designed to build on the results from our Phase II schizophrenia trial, which we reported in 2007. The Phase II trial was a multi-center, double-blind, placebo-controlled Phase II clinical trial designed to evaluate pimavanserin as an adjunctive therapy in patients with schizophrenia. The trial results showed several advantages of adjunctive therapy with pimavanserin and a 2mg, or low, dose of risperidone in patients with schizophrenia. First, a 20 mg dose of pimavanserin given adjunctively with the 2 mg dose of risperidone produced enhanced efficacy, comparable to that of a 6 mg, or standard, dose of risperidone. Second, the onset of antipsychotic action was accelerated after adjunctive therapy with pimavanserin as compared to either the low dose or the standard dose of risperidone alone. Third, adjunctive therapy with pimavanserin together with a low dose of risperidone demonstrated an improved side effect profile, including significantly less weight gain, compared to the standard dose of risperidone.
What we like about
Acadia is trading around its cash position around the low $1.30s. 1st quarter they had $7 million burn rate if they continue this burn rate it could see them into year 2011. (ACAD) have 38,336,377 Shares Outstanding as of April 30, 2010.
We believe the main catalyst for (ACAD) will be the news of pimavanserin heading into phase 3 around mid year of 2010.
About ACADIA Pharmaceuticals (Nasdaq: ACAD)
Is a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders. We are focused on developing a portfolio consisting of our four most advanced product candidates including pimavanserin, which we are developing for three separate neurological and psychiatric indications in collaboration with Biovail. These indications are Parkinson’s disease psychosis, which is in Phase III development, co-therapy for schizophrenia, which is in Phase III planning, and Alzheimer’s disease psychosis, for which we are planning to initiate a Phase II feasibility study. In addition, we have a product candidate in Phase II for chronic pain and a product candidate in Phase I for glaucoma, both in collaboration with Allergan, and a program in IND-track development in collaboration with Meiji Seika Keisha.
All of the product candidates in our pipeline emanate from discoveries made using our proprietary drug discovery platform. We have assembled a strong team of industry-experienced executives to lead the development of our product candidates and we complement this team with a network of world-class scientific and clinical advisors.
ACADIA Pharmaceuticals Inc.
3911 Sorrento Valley Blvd.
San Diego, CA 92121 USA
Tel: +1 (858) 558-2871
Fax: +1 (858) 558-2872
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