SAN FRANCISCO, March 24, 2021 (GLOBE NEWSWIRE) – Hagens Berman invites Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) Investors with significant losses can file their losses now. The company is investigating possible violations of the Securities Act and certain investors may have valuable claims.
Contact an attorney now: [email protected]
Investigation by Acadia Pharmaceuticals Inc. (NASDAQ: ACAD):
The investigation focuses on the accuracy of Acadia’s information regarding the Complementary New Drug Application (“sNDA”) for NUPLAZID® (Pimavanserin) for the treatment of hallucinations and delusions related to dementia-related psychosis (“DRP”).
On July 20, 2020, Acadia announced that the US FDA had accepted filing of the sNDA. The company also assured investors “[t]The FDA has also informed the company that at this point in time it did not identify any potential review issues in its assessment and that it is not currently planning a meeting of the Advisory Committee. “
On March 8, 2021, Acadia shocked its shareholders when it announced that the FDA notified the company on March 3, 2021 that the agency’s review of the sNDA had identified flaws that sparked a discussion of labeling and post-marketing Requirements / obligations for exclude this time.
The analysts were stunned by the news. RBC Capital Markets analyst Gregory Renza reportedly said that after receiving the March 3 notice and “after five days of ghosting,” he now expects the FDA to issue a full response letter denying Acadia’s application .
In response to this information, Acadia’s stock price fell $ 20.76, or 45%, in a single trading day due to unusually high trading volume.
“We’re focusing on investor losses and whether Acadia may have misled investors by hiding FDA-related review risks for the sNDA,” said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are an Acadia investor and experience significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about Acadia should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities across the country and over eighty lawyers. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. More information about the company and its achievements can be found at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.
Reed Kathrein, 844-916-0895