Why Is Acadia Pharmaceuticals (ACAD) Stock Down 18% Today?

Acadia Pharmaceuticals (NASDAQ:ACAD) stock is falling on Tuesday after the company released results from a Phase 3 clinical trial of pimavanserin.Pimavanserin is a drug in development at Acadia Pharmaceuticals as a treatment for negative symptoms of schizophrenia. Unfortunately, the Phase 3 clinical trial of pimavanserin failed to meet its primary endpoint.Acadia Pharmaceuticals CEO Steve Davis said the following in about the clinical trial results.“We are disappointed the trial did not meet its primary end ...