Why Acadia Pharmaceuticals Stock Is Crashing Today
Shares of the mid-cap biopharma Acadia Pharmaceuticals (NASDAQ: ACAD) fell by as much as 44% in pre-market trading Tuesday morning. The drugmaker's stock is crashing today in response to a regulatory setback for pimavanserin's proposed label expansion as a treatment for dementia-related psychosis.
The Food and Drug Administration reportedly notified the company on March 3 that it had identified deficiencies in the drug's supplemental New Drug Application (sNDA) that preclude discussion of labeling and post-marketing requirements/commitments. Pimavanserin's sNDA review is still scheduled to be concluded by April 3, despite this unexpected development.
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Source Fool.com
