Shares of Acadia (ACAD), a biopharmaceutical company focused on central nervous system disorders, are rising after its presentation at the JP Morgan Healthcare Conference Wednesday night.
SIGNIFICANT COMMERCIAL OPPORTUNITY FOR NUPLAZID: Nuplazid is a selective serotonin inverse agonist/antagonist, or SSIA, used to treat Parkinson's disease psychosis. During the JP Morgan conference, Acadia said it anticipated 2018 Nuplazid revenue of $220M-$225M, with Q3 Nuplazid revenue of $58.3M, representing 64% growth year-over-year. With the company's launch of a 34 milligram capsule of Nuplazid in Q3, Acadia CEO Steve Davis said: "We think with the new drug approved and as patients get more and more experience with a very favorable tolerability profile and the strong efficacy that we have that we'll be able to grow that market and physicians will likely begin treating earlier in the treatment paradigm".
PRICE ACTION: Shares of Acadia are up approximately 5.8% to $20.89 in afternoon trading.
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