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Acadia Pharmaceuticals, Inc. (ACAD)

NASDAQ:ACAD

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Acadia Pharmaceuticals, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Acadia Pharmaceuticals, Inc. (“Acadia” or the “Company”) (NASDAQ:ACAD) of the September 17, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Acadia stock or options between April 29, 2016 and July 9, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of all those who purchased Acadia securities between April 29, 2016 and July 9, 2018 (the “Class Period”).  The case, Stone v. Acadia Pharmaceuticals Inc. et al., Case No. 18-cv-01672 was filed on July 23, 2018 and has been assigned to Judge Larry Alan Burns.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that adverse events and safety concerns related to NUPLAZID, the Company’s flagship antipsychotic treatment for Parkinson’s disease, threatened the drug’s initial and continuing FDA approval; and (2), that ACADIA engaged in business practices likely to attract regulatory scrutiny.

Specifically, on February 27, 2018, ACADIA announced fourth quarter 2017 NUPLAZID sales of $43.6 million, which was approximately $720,000 below consensus estimates.

On this news, ACADIA’s share price fell from $31.16 on February 27, 2018 to $24.92 on February 28, 2018—a $6.24 or 20% drop.

Then, on April 9, 2018, CNN reported that they had received adverse feedback regarding NUPLAZID from various medical researchers and experts, who maintained that more research needed to take place in order to assess the drug’s risk.

On this news, ACADIA’s share price fell from $21.53 on April 6, 2018 to $16.50 on April 9, 2018—a $5.03 or 23.36% drop.

Then, on April 25, 2018, CNN reported that the FDA was re-examining the safety of NUPLAZID.

On this news, ACADIA’s share price fell from $19.47 on April 24, 2018 to $15.20 on April 25, 2018—a $4.27 or 21.93% drop.

Then, on July 9, 2018, the Southern Investigative Reporting Foundation reported that Acadia had achieved its growth through methods that included “dispensing wads of cash to doctors to incentivize prescription writing and downplaying mounting reports of patient deaths.”

On this news, ACADIA’s share price fell from $17.84 on July 6, 2018 to $16.63 on July 9, 2018—a $1.21 or 6.78% drop.

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  • Case:
    Acadia Pharmaceuticals, Inc. (ACAD)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 07/27/2018

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