Another under-$10 name in the biotechnology and drugs complex that's trading within range of triggering a major breakout trade is Acadia Pharmaceuticals (ACAD - Get Report), which is focused on small molecule drugs that address unmet medical needs in neurological and related central nervous system disorders. This stock is off to a monster start in 2012, with shares up over 60% so far.
This company has a catalyst on the horizon for its drug Pimavanserin, which is a treatment for patients suffering psychosis due to Parkinson's disease. Top-line results for this phase III study are expected to be released in the third quarter of 2012. As of early August, the trail is 95% enrolled, and management recently said it expects to offer data in late November to early December of this year.
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