Here is why ACADIA Pharmaceuticals Inc. (ACAD) had a Good Monday?

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ACADIA Pharmaceuticals Inc. (ACAD) shares soared 22.58% in after-hours on Monday, December 06, 2021, and closed the daily trading at $23.78. Even in the regular trading session, ACAD’s stock gained 3.25%. ACAD shares have fallen 64.23% over the last 12 months, and they have moved up 2.97% in the past week. Over the past three months, the stock has gained 19.16%, while over the past six months, it has declined 26.99%.

Let’s have a look at its recent news and developments.

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ACAD Phase 3 Lavender trial of Trofinetide

On December 06, 2021, Acadia Pharmaceuticals Inc. (ACAD) announced positive top-line results from the pivotal, Phase 3 Lavender™ study evaluating the efficacy and safety of trofinetide in 187 girls and young women aged 5-20 years with Rett syndrome.

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Both co-primary objectives showed a statistically significant improvement over placebo in the 12-week placebo-controlled research.

Acadia is now looking for a pre-NDA meeting with FDA in Q1 2022 and plans to submit a New Drug Application (NDA) around mid-year 2022.

ACAD ADVANCE study publication

On December 01, 2021, The Lancet Psychiatry published results from the Phase 2 (ACAD) ADVANCE study which was a 26-week, randomized, double-blind, placebo-controlled study evaluating the efficacy and safety of adjunctive pimavanserin treatment.

ACAD launched a national awareness campaign

On November 16, 2021, Acadia Pharmaceuticals Inc. (ACAD) launched a multicultural, storytelling campaign, Yours, to bring greater awareness and understanding of the varied experiences of the non-motor symptoms associated with Parkinson’s disease. The campaign was launched in collaboration with StoryCorps, to provide the Parkinson’s disease community with a unique forum to record, share and archive their personal stories, in both Spanish and English.

ACAD latest financial results

On November 08, 2021, Acadia Pharmaceuticals Inc. (ACAD), announced its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • ACAD reported total sales of $131.6 million for the three months ended September 30, 2021, compared to $120.6 million in Q3 2020.
  • Research and development expenses were $58.6 million, compared to $120.1 million for the same period of 2020.
  • Selling, general and administrative expenses were $81.7 million compared to $81.6 million for the same period of 2020.
  • It suffered a net loss of $14.5 million, or $0.09 per common share in Q3 2021, compared to a net loss of $84.7 million, or $0.54 per common share, for the same period in 2020.
  • Acadia’s cash, cash equivalents, and investment securities totaled $540.3 million on September 30, 2021, compared to $632.0 million on December 31, 2020.

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Conclusion

The topline results of trofinetide were the reason behind its top-notch performance on Monday. We can expect it to further surge on Tuesday.

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