NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of ACADIA Pharmaceuticals Inc. (“ACADIA” or the “Company”) (NASDAQ: ACAD). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether ACADIA and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 15, 2024, Culper Research (“Culper”) published a short report alleging that “ACADIA’s April 2023 launch of Daybue—the Company’s highly-anticipated ‘first and only’ drug to treat Ret Syndrome—has been a total flop.” Culper asserted that its “research reveals that patients, caregivers, physicians, and insurers have all soured on the drug,” claiming that “Daybue new patient starts already topped this past summer, peak revenues will be a mere fraction of sell-side estimates, and Daybue’s flop will have knock-on effects as ACADIA remains a cash-burning machine.”
Following publication of the Culper report, ACADIA’s stock price fell $0.38 per share, or 1.49%, to close at $25.18 per share on February 15, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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