Shares for San Diego-based Acadia Pharmaceuticals Inc. soared after it released promising results about the performance of its drug, pimavanserin, in phase 3 clinical trials. The drug treats psychosis associated with Parkinson’s disease.
At market close on March 21, shares were up, rising from $7.14 per share to $8.24 per share. The company’s market capitalization is about $649 million.
The company made the announcement during the American Academy of Neurology Annual Meeting, held March 16-23 in San Diego.
— SDBJ Staff Report