TSHA - Acadia Pharmaceuticals: Back In The Buy Zone
2024-06-23 11:32:35 ET
Summary
- Acadia Pharmaceuticals, Inc. shares recently hit their lowest level since Daybue approval due to Nuplazid Phase 3 trial failure for schizophrenia.
- Despite setbacks, Acadia has strong financials with $470.5 million in cash and investments, and is trading at two times FY24 revenue net of cash.
- An updated analysis around Acadia Pharmaceuticals follows in the paragraphs below.
Shares of central nervous system therapy concern Acadia Pharmaceuticals, Inc. ( ACAD ) have recently fallen to their lowest level since its second commercial asset, Daybue, was approved. The main impetus for the decline was the failure of its other commercial product (Nuplazid) in a Phase 3 label-expansion trial for negative symptoms of schizophrenia. With a potential gene therapy threat to Daybue in early-stage studies but trading at two times FY24E revenue net of cash, Acadia merited another look....
Acadia Pharmaceuticals: Back In The Buy Zone