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
Senator Lisa Murkowski, R-Alaska, has expressed support for repealing Obamacare's individual mandate, a key provision Senate Republicans are hoping to use to offset the cost of their tax reform bill. The Congressional Budget Office estimates repealing the requirement that nearly all Americans purchase... Automotive startup Divergent 3D said that a Chinese-led investment syndicate has agreed to commit up to $107 million in financing through a new investment round. Hong Kong-based investment holding company, O Luxe Holdings Limited, led the investment group, which includes Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies. Apple Inc. has recently acquired Canada-based startup Vrvana, maker of the Totem augmented reality headset, TechCrunch reported. Both the companies reportedly declined to confirm news about the deal, which is reportedly worth $30 million.
comments powered by Disqus
Follow RTT