Acadia Down on AM-831 Discontinuation; Updates on pimavanserin Later Today

Acadia Pharmaceuticals (NASDAQ:ACAD) is down in pre-market trading after reporting this morning that they and their partner Meiji Seika are discontinuing development of schizophrenia treatment AM-831. The compound failed to meet pre-determined criteria in Phase I testing. AM-831 showed promising preclinical models and, unlike some treatments, may have avoided exacerbating cognitive disturbances in schizophrenia. On a positive note, however, the company announced that it is nearing completion of enrollment in its Phase III trial of pimavanserin for Parkinson’s disease psychosis. More information on the trial will be presented  today at the JMP Healthcare conference in New York.