Acadia Terminates Painkiller, Cancer Candidate After Disappointing Data - ACADIA Pharmaceuticals (NASDAQ:ACAD)

Acadia Pharmaceuticals Inc ACAD stopped working on two candidates, including a one-time competitor to Vertex Pharmaceuticals Incorporated's VRTX non-opioid painkiller.
The company scrapped the ACP-044 program after evaluating the final phase 2 data on bunion removal patients.
Initial data announced in April showed that the primary endpoint of pain intensity was not met.
Rival Vertex boasted a mid-phase win for a similar candidate.
Acadia has also discontinued ACP-319, which was tested in combination with Calquence in a phase 1 trial in relapsed/refractory chronic lymphocytic leukemia.
In Acadia's earnings report, the company hopes that trofinetide, submitted last month to the FDA for approval, will become the first treatment for a rare neurological condition called Rett syndrome.
It also pointed to an in-house molecule called ACP-204, which is in phase 1 trials for neuropsychiatric indications. Acadia aims for ACP-204 to build upon its learnings garnered from the neuropsychiatric drug Nuplazid, the company's only approved therapy to date.
Price Action: ACAD shares are down 3.76% at $16.00 during the market session on the last check Tuesday.