We started buying ACAD in February and wrote about it here ACAD Pharmaceuticals - ACAD. Today ACAD advanced 23.91% on heavy volume of 22 million shares. The company was a presenter at the (AAN) American Academy of Neurology yesterday and reiterated the November Phase 3 results of Pimavanserin.
ACAD has to just duplicate the prior phase 3 trial they completed in November, and if they do data should be good enough for FDA approval. They will be starting that trial by April and finish the trial by the end of 2014. The lead drug Pima will also be tested for (ADP) Alzheimer's Disease Psychosis in the second half of 2013. The long patent life to 2028 makes the company a good takeover target for large pharma sometime in the next two years.
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