SAN FRANCISCO, April 22, 2021 / PRNewswire / – Hagens Berman urges Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) investors with significant losses to file their losses now.
School lesson: June 15, 2020 – – April 4, 2021
Deadline of the main plaintiff: June 18, 2021
Contact an attorney now: [email protected]
To combat fraud in Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) securities:
The complaint alleges that the defendants misrepresented facts regarding Acadia’s Complementary New Drug Application (“sNDA”) for NUPLAZID® (Pimavanserin), which treats dementia-related psychosis (“DRP”).
In particular on 20th July 2020Acadia announced that the FDA has accepted the sNDA filing, stating that their pivotal study for the drug shows a significant reduction in symptoms of psychosis and an almost three-fold reduction in the risk of relapse in patients who continue to receive pimavanserin compared to placebo. Thereafter, the company repeatedly stated that the FDA had not identified any potential review issues and reiterated the drug’s effectiveness.
But the truth was beginning to show March 8, 2021when Acadia announced it March 3, 2021 The FDA notified the company that it had identified deficiencies in the sNDA.
Then further April 5, 2021Acadia announced that the FDA had rejected the sNDA, citing a lack of statistical significance regarding some of the subgroups of dementia and an insufficient number of patients with some less common dementia subtypes.
“We’re focusing on investor losses and proving that Acadia misled investors by hiding FDA-related review risks for the sNDA,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are an Acadia investor and are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about Acadia should consider their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Call for more information Reed Kathrein at 844-916-0895 or by email to:[email protected].
About Hagens Berman
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SOURCE Hagens Berman Sobol Shapiro LLP