Acacia shares rise on FDA dementia drug designation
Acadia Pharmaceuticals Inc. (ACAD) shares rose in the extended session Wednesday after the biotech company said the Food and Drug Administration granted its dementia-related psychosis treatment a special designation to aid in the approval process. Acadia shares advanced 4.4% to $40.86 after hours. The company said the FDA granted a "Breakthrough Therapy Designation" to its drug pimavanserin to treat hallucinations and delusions associated with dementia-related psychosis. Under the designation, the FDA expedites the approval process for drugs that address serious conditions for which there are few to no treatments. Pimavanserin is already FDA-approved to treat hallucinations and delusions in patients with Parkinson's disease psychosis under the trade name Nuplazid. Acadia said it plans to begin a late-stage clinical trial of pimavanserin in a study expected to enroll about 360 patients with dementia-related psychosis.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
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