Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade ACAD now with 

Shares of biopharmaceutical firm ACADIA Pharmaceuticals Inc. (ACAD: Quote) 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.

Register
To receive FREE breaking news email alerts for ACADIA Pharmaceuticals Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.