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Acadia Initiates Strategic Restructuring
Acadia Pharmaceuticals will reconstruct its organization. The company will focus on developing a portfolio of its four most advanced product candidates. In connection with that, it plans to reduce its total workforce by about 50 per cent at both its American and Swedish sites.
The company's top priority is to advance its phase III program with pimavanserin, a drug against Parkinson's disease psychosis. A key objective in this program is the successful and timely execution of the first phase III pivotal trial. This trial remains on track and Acadia anticipates reporting top-line results during the third quarter of 2009. Through its collaborations with the biopharmaceutical company Allergan, Acadia is also advancing a phase II program in chronic pain and a phase I program in glaucoma. In addition to its lead phase III program with pimavanserin and the two collaborative clinical programs, Acadia intends to complete studies to advance a fourth product candidate ACP-106, for treating central nervous system disorders, into the clinic in 2009.
