Boston, MA 27/06/2013 (wallstreetpr) – ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded at $17.82 in the previous trading session after going upwards by $1.02 (or 6.07%). The stock hit its day’s low at $16.79 and day’s high at $17.96. Around 2.82 million shares have traded in the previous session while the average volume of the stock is 4.04 million shares.
There was a surge in the activity of the investors which brought upon good news for many biotechnological companies. ACADIA Pharmaceuticals is one of them. It has plenty to talk about, in 2013. Pimavanserin, a drug which has proven to be very effective in the treatment of Parkinson’s disease has brought a whole bunch of news for the investors for which they can get excited about. The trials of Phase 3 have shown that Pimavanserin has gone a long way in reducing psychotic episodes of the patients as compared to placebo. In addition to this, it exhibits no negative impact on the function of motor. This has made many investors to think about buying the shares of this company. The approval by FDA can lead to drug being available in the market by late 2014 or early 2015. Many investors think that if other indications besides Parkinson’s disease are considered, Pimavanserin is capable of realizing $1 billion in sales. There is also another side of the coin. There were many drugs before, which offered the same hopes and still did not fulfil the expectations so how can the investors trust this drug. It is still very early in the game. Plenty can happen between now and then.
There are many more catalysts other than this drug which has contributed to the rise of ACADIA Pharmaceuticals in 2013. FDA’s support for the company in granting the approval of filing NDA for the drug and this alone has led to 65% increase in the shares of the company.
There is another news that the company, recently featured drugs laggard as it dragged down the drug industry to the lower level.
