ACADIA Pharmaceuticals Shares Down 20% Following sNDA resubmission for ADP

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares were trading around 20% lower Tuesday morning following the company’s announcement, according to which it will file an sNDA for pimavanserin for Alzheimer's Disease Psychosis (ADP) powered by new analyses of the HARMONY and -019 studies that look specifically at ADP.

While management stated the FDA has shown a "high level of engagement" in its meetings with the company, the analysts at Berenberg Bank stated that the concern remains that the agency will require additional studies, which will result in the dramatic increase in the capital required and time to launch.

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Symbol Price %chg
207940.KS 787000 0
068270.KS 192900 0
028300.KQ 101000 0
196170.KQ 170200 0
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