From Investing.com:

Acadia Pharma (ACAD) shares fell over 15% after the company announced the failure of its Phase 3 ADVANCE-2 trial for pimavanserin in treating negative symptoms of schizophrenia. CEO Steve Davis expressed disappointment and stated that the company will not conduct further clinical trials with pimavanserin. Mizuho downgraded Acadia to Neutral and lowered the price target to $25. No major catalysts are expected until late 2025/early 2026.



Read more at Investing.com: Acadia Pharma to stop pimavanserin trials after failure By Investing.com