Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) ended Tuesday session in red amid volatile trading. The shares closed down -0.40 points or -1.23% at $32.07 with 1.19 million shares getting traded. Post opening the session at $32.00, the shares hit an intraday low of $31.33 and an intraday high of $32.47 and the price vacillated in this range throughout the day. The company has a market cap of $4.04 billion and the numbers of outstanding shares have been calculated to be 119.75 million shares.
On August 24, 2016 ACADIA Pharmaceuticals Inc. (ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in central nervous system (CNS) disorders, announced the appointment of Todd S. Young as Executive Vice President, Chief Financial Officer, effective August 22, 2016. Mr. Young reports to Steve Davis, ACADIA’s President and Chief Executive Officer.
“Todd is a seasoned leader with significant financial and operational experience in the biopharmaceutical industry,” said Steve Davis. “His proven finance and leadership skills will be key as we bring NUPLAZID™ (pimavanserin) to patients in need, seek to maximize the significant opportunities ahead for pimavanserin, and deliver on our vision of building a leading CNS company. We welcome Todd to our team and look forward to his contributions.”
Shares of Athersys, Inc. (NASDAQ:ATHX) ended Tuesday session in red amid volatile trading. The shares closed down -0.06 points or -2.99% at $1.95 with 384,486.00 shares getting traded. Post opening the session at $1.96, the shares hit an intraday low of $1.90 and an intraday high of $2.00 and the price vacillated in this range throughout the day. The company has a market cap of $174.39 million and the numbers of outstanding shares have been calculated to be 84.98 million shares.
Athersys, Inc. (ATHX) on Sept. 12, 2016 announced the successful completion of Japan’s Pharmaceutical and Medical Devices Agency (PMDA) review of the Clinical Trial Notification (CTN), allowing the commencement by HEALIOS K.K. (Healios) of a confirmatory clinical trial evaluating the safety and efficacy of administration of MultiStem®, Athersys’ novel cell therapy product, for the treatment of ischemic stroke in Japan (also designated by Healios as HLCM051 in Japan). In accordance with the regulatory system in Japan, a CTN is equivalent to an Investigational New Drug application, or IND, under the regulatory system used in the United States. This clinical trial to be conducted in Japan is part of a partnership and license agreement between Healios and Athersys, focused on the development and commercialization in Japan of novel cellular therapies, including MultiStem, for the treatment of ischemic stroke and potentially other indications. The study design was accepted as proposed to PMDA in the CTN.
“This announcement demonstrates exciting and important progress, achieved within less than eight months of launching the collaboration, and reflects the tremendous effort on the part of the teams at both organizations that are working together to advance this program in a highly focused and efficient manner,” said Gil Van Bokkelen, Ph.D., Chairman and Chief Executive Officer of Athersys. “The development approach being taken by Healios and Athersys in Japan is consistent with the approach we plan to implement in a separate international study. Both studies are designed to provide the confirmatory evidence that we believe will put us in a strong position to obtain approval in one of the greatest areas of unmet clinical need in medicine.”