Ademi LLP is investigating possible securities fraud claims against Acadia (NASDAQ: ACAD). The investigation results from inaccurate statements Acadia may have made regarding its financial results, business operations and prospects.
The investigation focuses on whether Acadia properly disclosed the facts underlying its supplemental new drug application for NUPLAZID® (pimavanserin), which is used for the treatment of hallucinations and delusions associated with dementia. On March 8, Acadia announced that the FDA had "identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time" with respect to its NUPLAZID® application. On April 5, Acadia announced that the FDA had rejected the NUPLAZID® application because it lacks substantial evidence of effectiveness to support approval.