Acadia Pharmaceuticals (ACAD) - Get Report rose Monday after the company announced positive results from an eight-week, open label, phase 2 study for a treatment candidate for Parkinson's patients with depressive symptoms.
The company presented results from the study at the 2019 International Congress of Parkinson's Disease and Movement Disorders in Nice, France.
"Results of this open-label study suggest that pimavanserin may be a potential treatment to be further investigated for depression associated with Parkinson's disease," said Dr. Gus Alva, founder and medical director of ATP Clinical Research and co-author of the study.
Mood disorders, especially depression, occur in about 50% of Parkinson's patients, according to Acadia, which could lead to a faster progression of the physical symptoms associated with the disease.
"We are committed to continued research for pimavanserin to address unmet medical needs in central nervous system disorders, including our ongoing Phase 3 clinical program in major depressive disorder," said Acadia President Serge Stankovic.
Acadia shares rose 4.74% to $42.67 on Monday.