NEW YORK, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Acadia Pharmaceuticals, Inc. (NASDAQ:ACAD) on behalf of long-term stockholders following a class action complaint that was filed against Acadia on April 19, 2021 with a Class Period from June 15, 2020 to April 4, 2021. Our investigation concerns whether the board of directors of Acadia have breached their fiduciary duties to the company.
Acadia is a biopharmaceutical company that focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The Company is developing pimavanserin as a treatment for dementia-related psychosis and as an adjunctive treatment for schizophrenia, as well as an adjunctive treatment for major depressive disorder.
On March 8, 2021, Acadia issued a press release providing a regulatory update on the pimavanserin sNDA, disclosing "that the Company received a notification from the [FDA] on March 3, 2021, stating that, as part of its ongoing review of the Company's [sNDA], the FDA has identified deficiencies that preclude discussion ...