There’s a couple of possible reasons for why ACAD is rising more on this announcement than NEU (at this stage, anyway).
The short percentage of ACAD is significantly higher for ACAD than for NEU (>6% v. <1%). When good news lands and shorts need to cover, share price rises are steeper.
Acadia simultaneously announced Q2 and Q3 sales guidance for Daybue. As a mature company, ACAD’s sales are a key focus for analysts. The Daybue sales figures provided, I think, would have been on the upside of analysts’ expectations and bode well for the future of the drug.
To date, Acadia has not been a global player. Although it tested the waters with Nuplazid a number of years back, it subsequently retreated. As much as this was a licensing agreement announcement, this was also a “going global” announcement by Acadia. I would expect this will mean a renewed push for ex-US approval of Nuplazid as well.
NEU Price at posting:
$13.60 Sentiment: Hold Disclosure: Held
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