Acadia Drug Misses Primary Goal in Alzheimer’s Related Psychosis

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) stock is trading lower on Thursday after the company announced topline Phase 2 results from its RADIANT clinical trial program evaluating remlifanserin for Alzheimer’s disease psychosis. Phase 2 Trial Results For Remlifanserin In the study, a 60 mg daily dose of remlifanserin led to a -12.6 score change on the primary scale compared to -10.4 for placebo at week six. Although the treatment narrowly missed statistical significance on the primary measure, it achieved nominal significance on a key secondary endpoint measuring overall disease severity. Conversely, a lower 30 mg dose provided minimal benefit. Read Also: Acadia Pharma Stock Jumps After European Panel Reverses Course On Rett Syndrome Therapy Safety Profile And Phase 3 Plans Across all dosage arms, remlifanserin demonstrated a favorable safety and tolerability profile. Researchers observed no deaths, no negative impact on cognition or motor functions, and no evidence of heart rhythm abnormalities relative to placebo. Based on these clinical findings, the company will advance its Phase 3 development of daily 60 mg remlifanserin. Acadia plans to continue enrollment in two ongoing Phase 3 studies while amending the protocol to eliminate the ineffective 30 mg dose. Additionally, researchers are testing remlifanserin in a separate Phase 2 trial for Lewy body dementia psychosis. Technical Analysis ACADIA Pharmaceuticals is currently facing bearish momentum, with its price positioned well below key moving averages. The 20-day and 50-day simple moving averages are both above the current price, indicating a negative trend and suggesting traders should be cautious. The RSI is at 17.49, signaling that ACADIA Pharmaceuticals Inc. is in oversold territory. This low RSI level could indicate a potential for a price rebound, but traders should be wary of the prevailing bearish trend. MACD is below its signal line, indicating bearish pressure on ACADIA Pharmaceuticals’ stock. This suggests that the downward momentum may continue, and traders should monitor for any signs of a reversal. Key support is at 21.00, while resistance is at 27.50. If the price approaches support, it may signal a potential reversal, whereas a breach of resistance could indicate a trend change. The golden cross in July, where the 50-day SMA crossed above the 200-day SMA, initially suggested bullish potential. However, the current price action indicates that traders should remain cautious despite this earlier bullish signal. Over the past 12 months, ACADIA Pharmaceuticals’ stock has declined by 4.69%, reflecting a longer-term bearish trend. This performance underscores the need for traders to approach the stock with a careful strategy, given the prevailing downward momentum and technical indicators. ACAD Price Action: ACADIA Pharmaceuticals shares were down 10.40% at $22.78 at the time of publication on Thursday, according to Benzinga Pro data. Read Also: Meta’s Muse AI Has Wall Street Seeing Billion-Dollar Possibilities Image via Shutterstock