• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance

Acadia Pharmaceuticals Shares Plunged Yesterday After A CNN Report

By Kurt Osterberg · On April 10, 2018

Shares of Acadia Pharmaceuticals Inc. (ACAD) fell by more than 25% on Monday after an article published on the CNN website raised concerns on the company’s lead drug, Nuplazid. The article termed the drug as ‘hostile’ and blamed it for the increasing deaths among patients that were treated with it.

According to the article, an analysis by the non-profit Institute for Safe Medication Practices found out that there were 244 deaths involving patients on Nuplazid within the first year of its introduction.

The drug was also named as a “suspect’ in at least 500 deaths. Nuplazid was launched two years ago and is the company’s lead treatment in psychosis and hallucinations related to Parkinson’s disease. Shares of the pharmaceutical firm ended the day at $16.50

ACAD Earnings & Outlook

The company is expected to report its earnings for the first quarter of fiscal year 2018 on May 8. Analysts expect the company to report negative earnings per share of $0.56.

Analysts predict 1.82% negative earnings per share growth after the pharmaceutical company posted $-0.55 earnings per share for the last quarter. Acadia reported $-0.72 earnings per share for the same period last year. The company last reported its earnings on February 27 2018 and posted revenue worth $43.60 million.

ACADIA CEO comments

Acadia responded to the CNN report in a statement indicating that patients who had Parkinson’s disease psychosis (PDP) were mostly older and frequently ill. The patients were also usually on numerous medications and that those factors are often linked with high mortality risk. The company added that they regularly monitored Nuplazid’s mortality risk and reported the information to the Food and Drug Administration (FDA) each quarter.

Acadia also said that FDA had not found any particular safety concern that is not already indicated in the drug’s labeling Nuplazid was developed. The company defended itself further saying that the overall mortality rate for patients who used the drug had in fact reduced by half.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    How To Earn A 10% Yield On Cost From PepsiCo Dividends

  • Finance

    Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

  • Finance

    How To Trade Options

Top Finance

  • Samsung Galaxy Note 9 Review Samsung Galaxy Note 9 Review
  • Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates
  • Hey, Sand Hill Exchange. Shouting 'blockchain!' won't stop the Feds Hey, Sand Hill Exchange. Shouting ‘blockchain!’ won’t stop the Feds
  • Nike's Kaepernick Ad Has Cost The Company Over $3 Billion So Far Nike’s Kaepernick Ad Has Cost The Company Over $3 Billion So Far
  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

New Posts

  • How To Earn A 10% Yield On Cost From PepsiCo Dividends

    How To Earn A 10% Yield On Cost From PepsiCo Dividends

    October 21, 2018
  • Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

    Extreme Cold Weather Forecast Puts Natural Gas ETFs In Focus

    October 21, 2018
  • How To Trade Options

    How To Trade Options

    October 21, 2018
  • Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

    Adding To Merkel’s Woes: SPD’s Collapse In Germany, Greens The New Left Darlings

    October 20, 2018
  • Self Sufficiency Over Adversity

    Self Sufficiency Over Adversity

    October 20, 2018
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018 NJCEE. All Rights Reserved.