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Investor Ideas Snapshot: NASDAQ Top Percentage Gainers; (ACAD), (EGLE), (ANAC), (NICK)
Category: Investment
Ideas get bigger when you share them...
Visit: ACADIA Pharmaceuticals Inc.
Point Roberts WA - March 21, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the NASDAQ for March 21st, 2013.
ACADIA Pharmaceuticals Inc., (NASDAQ:ACAD) trading at $8.51 gained $1.86 or 27.97% on a high volume of 12,125,059 shares, making it today's top percentage gainer on the NASDAQ.
Shares of Acadia Pharmaceuticals Inc. jumped to a multiyear high today after the company reported new data from a study of its drug pimavanserin, which is designed to treat psychosis in patients with Parkinson's disease.
The San Diego Company said the drug met a series of secondary goals in the clinical trial. According to a scale that measures patients' improvement during treatment, about twice as many patients who took pimavanserin were rated "very much improved" or "much improved" compared to patients who took a placebo. Patients who took the drug also improved based on a clinical measurement called the Scale for the Assessment of Positive Symptoms, or SAPS, and on a simpler version of SAPS Acadia developed.
Acadia said patients treated with pimavanserin were less likely to suffer hallucinations and delusions.
Back in November Acadia said pimavanserin had met its main goal in the trial, reducing psychosis as measured by one of the disease scales. It also said pimavanserin did not affect patients' motor control, while patients who took the drug slept better at night, were more awake during the day, and were less of a burden to caregivers.
According to the company, up to 60 percent of Americans with Parkinson's disease develop psychosis and there is no approved therapy to treat the condition. The company said anti-psychotic drugs are sometimes used to treat the psychosis, but those drugs can increase the risk of death and can cause side effects like the loss of motor control.
Pimavanserin is Acadia's most advanced experimental drug. The company does not have any approved products as of yet.
Eagle Bulk Shipping Inc., (NASDAQ:EGLE) trading at $3.85 rose by $0.70 or 22.22% on a volume of 859,261 shares.
Anacor Pharmaceuticals Inc., (NASDAQ:ANAC) trading at $4.44 jumped up $0.60 or 15.53% on a volume of 391,686 shares.
Anacor Pharmaceuticals earlier today announced positive results from a Phase 2 dose-ranging trial of its topical boron-based phosphodiesterase-4 inhibitor, AN2728. The study included 86 adolescents (ages 12 - 17) with mild-to-moderate atopic dermatitis, a chronic rash which predominantly affects children and is characterized by inflammation and itching. In this study, lesions treated with AN2728 ointment, 2.0% twice daily for 28 days achieved a 71% improvement from baseline in their Atopic Dermatitis Severity Index score, with 66% of lesions in this treatment group achieving total or partial clearance. AN2728 was generally safe and well-tolerated. Most adverse events were mild and largely unrelated to study drug.
Nicholas Financials Inc., (NASDAQ:NICK) trading at $14.92 gained $1.68 or 12.69% on a volume of 130,807 shares.
Nicholas Financials announced yesterday that the company has retained a financial advisor to help it evaluate "strategic alternatives" going forward. These include a potential sale of a part or the entirety of the company, acquisition activity, or the raising of new debt/equity financing.
In addition, the consumer finance specialist said it had received an unsolicited, non-binding indication of interest from a potential acquirer. It did not name this party, nor did it provide further details.
The company's board of directors will evaluate the indication of interest and consider the recommendations of its advisor, financial-services firm Janney Montgomery Scott.
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