Acadia (ACAD) shares are jumping higher after providing compelling data from its clinical trial in dementia-related psychosis for its drug pimavanserin. As a result, the shares have climbed to a new all-time high eclipsing its prior highs set in July 2015. The opportunity for Acadia appears to be very large for the company down the road, as dementia-related psychosis affects an estimated 2.4 million people.
The latest showed a statistical improvement in patients and is likely to be the standard of care for patients considering there is no approved drug for the indication.