{"id":77462,"date":"2024-03-12T11:58:25","date_gmt":"2024-03-12T16:58:25","guid":{"rendered":"https:\/\/equitynewsreport.com\/acadia-pharma-to-stop-pimavanserin-trials-after-failure\/"},"modified":"2024-03-12T11:58:25","modified_gmt":"2024-03-12T16:58:25","slug":"acadia-pharma-to-stop-pimavanserin-trials-after-failure","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/acadia-pharma-to-stop-pimavanserin-trials-after-failure\/","title":{"rendered":"Acadia Pharma to stop pimavanserin trials after failure"},"content":{"rendered":"<div readability=\"66\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"Acadia Pharma to stop pimavanserin trials after failure\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/news\/LYNXMPEC0409P_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. Acadia Pharma (ACAD) to stop pimavanserin trials after failure<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Shares of Acadia Pharma (ACAD) plunged Tuesday after the company reported after the close on Monday that its Phase 3 ADVANCE-2 trial did not meet its primary endpoint. <\/p>\n<p>The company&#8217;s stock price is down more than 15% at $20.48 per share following the news. <\/p>\n<p>The Phase 3 ADVANCE-2 trial was evaluating pimavanserin for the treatment of negative symptoms of schizophrenia. ACAD said pimavanserin did not demonstrate a statistically significant improvement over placebo.<\/p>\n<p>&#8220;We are disappointed the trial did not meet its primary endpoint given the significant unmet need in patients with negative symptoms of schizophrenia,&#8221; said Steve Davis, Acadia&#8217;s CEO.<\/p>\n<p>Davis said while the company will continue to analyze the data with its scientific advisors, they do not intend to conduct any further clinical trials with pimavanserin.<\/p>\n<p>Reacting to the news, analysts at Mizuho downgraded Acadia to Neutral from Buy, lowering the price target to $25 from $39 per share. <\/p>\n<p>&#8220;Given the failed ADVANCE-2 trial, we remove our sales forecast for Nuplazid in negative symptoms of schizophrenia (NSS),&#8221; said analysts at the firm. &#8220;Our new $25 PT incorporates value for Nuplazid in Parkinson&#8217;s disease psychosis (PDP), Daybue with ~$1B peak sales, and potential Nuplazid IP extension into 2038 for PDP.&#8221;<\/p>\n<p>Mizuho also said there are no near-term major catalysts in 2024 for the stock, with the next major catalyst potentially arriving in late 2025\/early 2026.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Acadia Pharma (ACAD) to stop pimavanserin trials after failure Shares of Acadia Pharma (ACAD) plunged Tuesday after the company reported after the close on Monday that its Phase 3 ADVANCE-2 trial did not meet its primary endpoint. The company&#8217;s stock price is down more than 15% at $20.48 per share following the news. The Phase 3 ADVANCE-2 trial was evaluating pimavanserin for the treatment of negative symptoms of schizophrenia. ACAD said pimavanserin did not demonstrate a statistically significant improvement over placebo. &#8220;We are disappointed the trial did not meet its primary endpoint given the significant unmet need in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77463,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50,48,49,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77462"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77462"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77463"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}