Acadia Pharmaceuticals Gains Expedited US FDA Review for Lead Drug

Bloomberg reported that Acadia Pharmaceuticals Inc soared to its highest value in 5 years at 64% after announcing that it will get an expedited US FDA review of its lead drug pimavanserin by the end of 2014.

As quoted in the market news:

We are very pleased with the outcome of our meeting with the FDA, which we expect will reduce substantially both the time and cost of our PDP development program,” Uli Hacksell, Acadia’s chief executive officer, said in a statement.

Pimavanserin is a once-a-day pill Acadia is studying to treat a loss of contact with reality that includes hallucinations that can accompany Parkinson’s disease.

Click here to read the full Bloomberg report.