Acadia Pharmaceuticals' Remlifanserin Shows Favorable Setup Ahead of Phase 2 Data, RBC Says

MT Newswires Live03-24

Acadia Pharmaceuticals (ACAD) has a favorable risk-reward setup ahead of phase 2 data forremlifanserin, or ACP-204, in Alzheimer's disease psychosis, RBC Capital Markets said in a report Tuesday.

The firm said the drug has a 40% probability of success for a clinically meaningful response with a large $500 million plus market opportunity and significant potential for upside.

Preclinical data suggests that remlifanserin may be more potent than its predecessor, while suggesting the drug could have a wider therapeutic window, RBC analysts noted.

The firm said Acadia's existing commercial franchises, Nuplazid and Daybue, remain solid and continue to show signs of growth within the US.

RBC kept its price target on Acadia's stock at $30 and maintained its outperform rating.

Price: 20.83, Change: -0.16, Percent Change: -0.79

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