November Boosted This Biotech Up 123%
Shares of Acadia (NAS: ACAD) are up 123% for November, for an incredible total of 363% for 2012. The company finally hit both its primary and secondary endpoints in its phase 3 trials of its first-in-class drug Pimavanserin, which treats Parkinson's disease psychosis, a condition in many as 50% of Parkinson's disease patients. The drug had previously failed to reach statistical significance because of the placebo effect in the control group, but it was able to adjust the trials to account for this and reach its goals. If these results can be repeated, then we can expect strong continued market bullishness for the company.
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The article November Boosted This Biotech Up 123% originally appeared on Fool.com.David Williamson, Max Macaluso, and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.