What is fundamentally wrong is that their chosen partner is in...

What is fundamentally wrong is that their chosen partner is in the middle of a sh!t storm. Their only product is under scrutiny and had significant adverse media coverage that may materially impact sales even if the FDA don't pull it. They are also facing a number of law firms taking class action for:

(1) adverse events and safety concerns related to NUPLAZID threatened the drug’s initial and continuing FDA approval; (2) ACADIA engaged in business practices likely to attract regulatory scrutiny; and (3) as a result, defendants’ statements about ACADIA’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

Neuren is now in bed with this and has sh!t on it's fingers. Worst case the FDA pulls Nuplazid and Acadia faces a massive payout. Where does that leave us?

The only thing going for us is that Trofinetide may be Acadia's savior so they will be highly motivated to get this to market. I still have no idea why Neuren thought these cowboys where the best strategic partner.