Health Winners & Losers: Acadia

Biotech and pharma stocks were rising in line with the broader markets on Tuesday amid earnings and staff slashings.

First, with a little bit of everything, biopharmaceutical company Acadia(ACAD Quote) shares were down 13 cents, or 4.6%, at $2.68. Per the recent quarter, the company said its net loss widened to 49 cents a share from 29 cents a share a year prior. Revenue fell to $177,000 from $2.1 million a year earlier, due to lower revenue from collaborations. Along with earnings, Acadia said it will cut its workforce by roughly half as part of a restructuring effort to focus on developing its four most advanced product candidates.

Separately, Acadia said it entered into a Committed Equity Financing Facility with Kingsbridge Capital Limited for up to $60 million of capital during the next three years through the purchase of newly issued shares of Acadia's stock. ...