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Article: Acadia pairs up: Acadia Pharmaceuticals.(Monday, May 4)
- Article from:
- San Diego Business Journal
- Article date:
- May 11, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Acadia Pairs Up: Acadia Pharmaceuticals signed a deal worth up to $395 million to bring its experimental Parkinson's disease psychosis drug to market, the company said.
Shares of Acadia spiked on the news, closing up 134 percent at $2.34. Acadia is traded under the symbol ACAD on the Nasdaq.
San Diego-based Acadia will partner with Canadian company Biovail to help fund its research operations, Under the agreement, Acadia will receive $30 million upfront and up to an additional $365 million if it meets certain benchmarks, including ...