logo
Share SHARE
FONT-SIZE Plus   Neg

ACADIA To Discontinue Development Of AM-831 In Schizophrenia - Update

Shares of biopharmaceutical firm ACADIA Pharmaceuticals Inc. (ACAD) are declining over 5 percent in pre-market trading after the company said that its AM-831, a compound under development for schizophrenia in collaboration with Meiji Seika Pharma Co., Ltd., did not meet pre-determined criteria for further development in Phase I testing.

The two companies have jointly decided to discontinue the development of AM-831, ACADIA said in a regulatory filing.

AM-831 is a novel and orally available small molecule. According to ACADIA's website, it demonstrated robust effects in preclinical models of psychosis and pro-cognitive effects in preclinical behavioral models.

The company's plan was to co-develop this compound in collaboration with Meiji through completion of proof-of-concept clinical studies. Meiji had exclusive rights to develop and commercialize AM-831 in Japan and some other Asian countries while ACADIA held rights in the rest of the world.

The company is scheduled to present at the 7th Annual JMP Securities Healthcare Conference today. During the presentation, ACADIA will provide an update on its pipeline, including the status of its ongoing Phase III efficacy, tolerability and safety trial with pimavanserin for Parkinson's disease psychosis or the -020 Study.

ACADIA is approaching completion of enrollment in the -020 Study and 90 percent of the planned patient enrollment has been completed. The firm expects to complete enrollment in this trial during August.

ACAD, which closed at $1.77 on Thursday, is falling 5.1 percent in pre-market activity.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Hampton Farms has voluntarily recalled Ava's brand organic cashews for potential Listeria contamination. The Organic Cashews Roasted & Salted 8 oz. tubs were distributed in New Jersey, New York, Pennsylvania and Connecticut. As per the recall statement, fewer than 225 units of this product were offered for retail sale. Maternity leave is a temporary period of absence from employment granted to expectant or new mothers during the months immediately before and after their pregnancy. Parental leave, including maternity, paternity and adoption leave, is an employee benefit. Many countries around the world, including... Texas, the second largest state in the U.S., has four of the five fastest-growing cities in the U.S., according to new population estimates released Thursday by the U.S. Census Bureau for the twelve months up to July 1, 2016. Ten of the fifteen fastest growing large U.S. cities during that 12-month span were in the South, according to the Census Bureau.
comments powered by Disqus
Follow RTT