Biotech Rattled On Surprise Setback For Alzheimer's Drug

Acadia Pharmaceuticals (ACAD) stock fell 5% after analysts cut price targets following Phase 2 RADIANT trial results for Remlifanserin in Alzheimer's disease psychosis. The trial missed the primary endpoint but showed promise in a subgroup. Analysts from Needham, Deutsche Bank, BMO Capital, and Citizens lowered targets but maintained positive ratings, citing future potential.

ACADIA Pharmaceuticals (ACAD) shares fell 13% after Goldman Sachs initiated a 'sell' rating and $17 price target due to weak phase 2 trial results for remlifanserin. Citi and BMO Capital maintained positive ratings but lowered price targets. The company plans to present detailed results at an upcoming conference. Hedge funds increased holdings in Q2, with 38 funds holding positions.

Acadia reported Phase 2 topline results for remlifanserin in Alzheimer’s disease psychosis. The 60 mg dose showed nominal significance on CGI-S, while the 30 mg dose showed minimal improvement. The company will proceed with Phase 3 studies, presenting detailed data at CTAD 2026. Safety profile was favorable. (ACAD)

ACADIA PHARMACEUTICALS INC (ACAD) filed an SEC Form 8-K — Regulation FD Disclosure. Exhibit 99.1 Acadia Pharmaceuticals Announces Phase 3 Enabling Topline Results from Phase 2 RADIANT Study of Remlifanserin for the Treatment of Alzheimer’s Disease Psychosis (ADP) — Meaningful and consistent efficacy trends across endpoints support continuing with Phase 3 develop

BMO Capital reduced its price target for Acadia Pharmaceuticals (ACAD) to $34, citing a trial miss, but maintained an Outperform rating. The stock is down 7.4% over the past week. The firm lowered the success probability for the drug candidate to 35% from 40%. Acadia generated $1.14 billion in revenue over the last twelve months and has a market cap of $3.93 billion.

Acadia Pharmaceuticals (ACAD) shares dropped over 9% after reporting mixed Phase 2 results for remlifanserin, an experimental Alzheimer's psychosis treatment. The 60 mg dose showed some efficacy but missed statistical significance, while the 30 mg dose showed little benefit. The company will proceed with Phase 3 trials using only the 60 mg dose. Analysts at Baird described the update as incrementally negative, lowering the probability-of-success estimate to 45%.