Acadia Pharma plunges on failed study
Shares of Acadia Pharmaceuticals Inc. (Nasdaq:ACAD) are swooning in pre-market trading after the biopharmaceutical company said this morning that its phase IIb clinical trial for the treatment of schizophrenia failed. The San Diego, Calif.-based firm says it has no plans to conduct further studies using the prospective drug ACP-104 used in the trial.
Shares plummeted 52%, or $4.44, to $4.05 in pre-market trading. For detailed price information and recent news stories about Acadia Pharmaceuticals, click ACAD.
