Hi Pat: I own some Acadia Pharmaceuticals (ACAD). Following news that their research was recently successful and that a big step forward had been made, I would like to know your take on this company.
Acadia Pharmaceuticals, $4.87, symbol ACAD on Nasdaq (Shares outstanding: 59.6 million; Market cap: $290.3 million; www.acadia-pharm.com), develops drugs for the treatment of central nervous system disorders.
The company’s pipeline consists of four drugs, including pimavanserin, which is in Phase III development as a treatment for Parkinson’s disease psychosis (PDP).
In addition, Acadia has a drug in Phase II development for chronic pain and a treatment in Phase I development for glaucoma. It has developed both of these treatments in collaboration with Allergan, Inc. (symbol AGN on New York).
In Phase I trials, a small group of 20 to 80 healthy volunteers take the new drug to assess its safety and tolerability, and to look for possible side effects.
Phase II trials involve groups of 20-300 people. These trials assess how well the drug works and continue Phase I safety assessments. When a new drug fails, it usually occurs during Phase II.
Phase III studies are the strictest scientific trials. These are conducted…
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