+ Watch ACAD
on My Watchlist
The Company is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule drugs for the treatment of central nervous system disorders.
Back in June I green-thumbed Acadia as a potential cash play but wrote that I wouldn't consider a real buy until the share price dropped under 1. Sure enough the price dropped below 0.7 in December and I had them lined up for a 20000 share buy-in at 0.65.Never happened. From December 16 to December 23 the stock doubled without any catalyst I could identify, and the share price recently hit 1.75 before pulling back slightly. The company wisely took advantage of the jump, which they possibly had manipulated themselves, with a 15M dilutive financing.As far as I can tell, the only clinical trial in progress is a third phase III study of pimavanserin in Parkinson's psychosis. To recap, the first phase III trial was negative in 9/09, which decimated the share price. The second phase III trial was terminated short of completion after the company determined it was unlikely to succeed based on the results of the first trial. Topline data for the third phase III trial is not expected until mid-2012.The market cap is now 64M with cash of 32M (probably closer to 42M on the next PR factoring in financing and burn) and a very questionable single-drug pipeline. I would expect the share price to pull back below 1 now that whatever sparked the share price double has dissipated. Of course, at some point before mid-2012 Acadia will have to be closely re-evaluated as a potential buy.
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ratings and Key Statistics provided by Zacks.
SEC Filings and Insider Transactions provided by Edgar Online.
Powered and implemented by Interactive Data Managed Solutions. Terms & Conditions