The pharmaceutical firm Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) had its stock rise 15.51 percent to $18.77 in trade on June 15, thanks to the release of official statistics.
The US Food and Medicine Administration (FDA) has released data that might imply that the findings of tests on the use of the drug Nuprazid for the treatment of psychosis in Alzheimer’s disease patients were favorable.
In 2019, the medicine Nuplazid prompted a large double-digit spike in stock prices. There is a tremendous unmet need for the treatment of Alzheimer’s disease, or at the very least its most severe symptoms. As a result, any prospective medications that demonstrate a strongly favorable effect will pique investors’ attention.
Acadia Pharmaceuticals Inc. (ACAD) makes about $500 million a year on Nuplazid, an already authorized medicine. Although it is licensed for the treatment of psychosis in Parkinson’s disease, Acadia is attempting to broaden its usage to include additional disorders with psychosis.
Nuplazid has a broad theoretical application, ranging from psychoses in Alzheimer’s disease and schizophrenia to depressive illnesses.
Because Acadia Pharmaceuticals Inc. (ACAD) is the sole FDA-approved medicine, it’s understandable that the business is working to increase its usage. However, this is a challenging undertaking; the FDA previously said that there was insufficient evidence for Nuprazid’s usefulness as a therapy for psychosis in Alzheimer’s disease.
The company later submitted additional research results to the FDA, and the publicly available material suggests that authorities are prepared to take the experimental data into account.
When focusing on technical inventory assessment, traders and investors may opt to research the ATR or Average True Range. The 14-day ATR for Acadia Pharmaceuticals Inc. (ACAD) is now 1.33. (ACAD). The 52-week high price is $28.06, while the 52-week low price is $15.16.
Over the last three months, the company’s stock has returned -18.23 percent with a 5-day price movement of 11.93 percent. Year to date (YTD), ACAD shares are down -16.41 percent, with 12-month market performance of -24.53 percent.