Been a wild week in the markets. Individual stocks will get tossed around with the predominate trend. To keep perspective a look at a daily chart of ACAD with fundamental comments attached.
We just experienced a -9.9% overall market correction low ending this week, and ACAD pulled back to around $22.00. The stock held up well under the conditions.
The above chart is a current month (October) to date. Despite the market correction of -9.9% that bottomed this week, the stock is up mid-month around +5%.
Bottom Line: Acadia has many potential catalyst's ahead listed below.
1. Filing the new drug application for Parkinson's Disease Psychosis with Nuplazid by year end.
2. FDA acceptance of the application within sixty days of filing.
3. Potential priority review (6 months review time) with FDA application acceptance.
4. Potential FDA approval in six or ten months from filing date.
5. Six to nine months after filing with the FDA, the company plans to submit to the EU for the same indication.
6. The start of a phase 2 clinical trial for Parkinson's patients who have sleep disturbances, by year end.
Disclosure: We are long term investors in ACAD.