Acadia Pharmaceuticals Inc. shares rose 16% to $31.40 in post-market trade Monday after the company said it plans to resubmit its supplemental new drug application for pimavanserin to treat hallucinations and delusions associated with Alzheimer's disease psychosis.
Acadia plans to resubmit the application in the first quarter of 2022, after the Food and Drug Administration rejected it in April.
The company is trying to expand the label for pimavanserin, which is already approved to treat hallucinations and delusions associated with Parkinson's disease psychosis, and is marketed as Nuplazid.
"Following our recent meetings with the FDA, we plan to resubmit our sNDA for pimavanserin, narrowing the proposed indication from dementia-related psychosis to Alzheimer's disease psychosis," said Chief Executive Steve Davis.
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