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Why Acadia Pharmaceuticals Stock Skyrocketed Today

TheMotleyFool

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Why Acadia Pharmaceuticals Stock Skyrocketed TodayPhoto, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

Shares of the mid-cap biotech Acadia Pharmaceuticals (NASDAQ: ACAD) gained an astounding 63.2% today on nearly 17 times the average daily volume. The spark?

Acadia's shares perked up today in response to the news that pimavanserin (aka Nuplazid) hit its primary endpoint in a Phase 3 trial known as Harmony. The Harmony trial was designed to evaluate pimavanserin as a treatment for dementia-related psychosis. The trial was reportedly stopped early upon the recommendation of the study's independent data monitoring committee.

Image Source: Getty Images.

Source Fool.com

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