San Diego-based Acadia Pharmaceuticals Inc., a company that develops treatments for neurological disorders, has been added to the Russell 2000 Index.
The new designation marks the company as one of the 3,000 largest U.S. stocks ranked by market capitalization, according to global asset management firm Russell Investments.
Shares for Acadia, a publicly traded $1.4 billion market cap biopharmaceutical company, closed at $17.69 on July 2.
Acadia has a pipeline of product candidates led by pimavanserin, which is in Phase III development as a potential first-in-class treatment for Parkinson’s disease psychosis. Acadia also has clinical-stage programs for chronic pain and glaucoma in collaboration with Allergan Inc. and two advanced pre-clinical programs directed at Parkinson’s disease and other neurological disorders.
— SDBJ Staff Report