Acadia Pharma Shares Rise 16% After New Target Action Date for Pimavanserin NDA

 Acadia Pharmaceuticals Inc. shares were up 16% to $27.08 after the company said it has received a target action date of Aug. 4 from the Food and Drug Administration for its resubmitted supplemental New Drug Application for pimavanserin.

The drug is used in the treatment of hallucinations and delusions associated with Alzheimer's disease psychosis.

The company said the FDA's Division of Psychiatry has also advised the company that it is planning to hold an Advisory Committee meeting in connection with its review.

"We look forward to working with the division during the course of their review and in preparation for the advisory committee meeting," said Steve Davis, chief executive of Acadia Pharmaceuticals. "We look forward to advancing our resubmission through the review process and potentially bringing this important new therapy to these families."

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