Acadia Pharma Parkinson's drug slows psychosis
Shares soar as pimavanserin achieves primary endpoints of phase III study.
By Adam Feuerstein
Acadia Pharmaceuticals' (ACAD) experimental drug pimavanserin reduced psychotic episodes in patients with Parkinson's disease, compared to a placebo, achieving the primary endpoint of a phase III study, the company said Tuesday.
Shares of Acadia were up 145% to $5.64 in early Tuesday trading.
Acadia needs to conduct another phase III study of pimavanserin in Parkinson's patients in order to confirm Tuesday's results. Two previous late-stage studies of the drug failed to demonstrate a significant reduction in psychotic episodes.
Treatment with a 40 mg dose of pimavanserin resulted in a 5.79-point reduction in psychotic behavior compared to a 2.73-point reduction in patients treated with a placebo. The 3.06-point difference in the two arms of the phase III study was statistically significant.
Reduction in psychotic behavior focused mostly on hallucinations and delusions and was assessed using a 9-item scale adapted from the Scale for the Assessment of Positive Symptoms (SAPS).
Pimavanserin achieved its antipsychotic effects without worsening motor function in Parkinson's patients, meeting a key secondary endpoint of the trial.
The pimavanserin data are "better than I expected," said Zacks analyst Jason Napodano, in a twitter post reacting to the Acadia study results. The U.S. market opportunity for pimavanserin in Parkinson's disease psychosis is $300 to $400 million, he adds.
More from TheStreet.com
- China, Brazil will resume rally in 2013
- ConAgra to buy Ralcorp for $4.95 billion
- Tracking hot tech stocks
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Remy Cointreau says it was 'adversely affected' by China's anti-extravagance policy.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.