ACADIA Shares Continue to Rise on Positive Phase II News
Shares of ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD) have exploded since the opening yesterday. In late trading today, ACADIA shares were trading at $14.51 per share on heavy volume. ACADIA shares closed last Friday, March 16th at $6.69 per share and were up over 100 percent to $13.61 at the closing yesterday. Before the market opened yesterday, the company announced positive top-line results from its Phase II schizophrenia co-therapy trial with ACP-103. ACP-103 is a small molecule drug candidate the company discovered and is developing as a co-therapy to be used together with other antipsychotic drugs to treat schizophrenia. ACP-103 can be…