Today's Research Reports on Stocks to Watch: AVEO Pharmaceuticals and ACADIA Pharmaceuticals
NEW YORK, NY / ACCESSWIRE / July 18, 2018 / Shares of AVEO Pharmaceuticals were deep in the red on Tuesday after a SEC 8-K revealed that the company’s TIVO-3 data is now delayed until the fourth quarter. Shares of ACADIA Pharmaceuticals were in the green despite any news.
RDI Initiates Coverage on:
AVEO Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=AVEO
ACADIA Pharmaceuticals Inc.
https://rdinvesting.com/news/?ticker=ACAD
AVEO Pharmaceuticals, Inc. shares closed down 24.21% on Tuesday with nearly 9.4 million shares traded. The stock saw its shares tank after Wall Street learned that the company had issued an 8-K with the Securities and Exchange Commission that disclosed a settlement of a five-year-old class action lawsuit brought on by shareholders. The shareholder plaintiffs will get $15 million, which will be paid by the insurance carriers. They'll also get warrants to purchase 2 million shares that are exercisable at $3.00 per share. Since the current share price is below the exercise price of warrants of $3, the warrants are worthless. The reason for shares to close double digit down was the fact that company disclosed 12 paragraphs in its 8-k filing that revealed that data for its phase 3 TIVO-3 trial will be delayed until the fourth quarter The data had already been delayed a couple of times. According to the SEC document, part of the delay was due to some patients were removed from the PFS analysis.
Access RDI’s AVEO Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AVEO
ACADIA Pharmaceuticals Inc. shares closed up 7.65% on nearly 4 million shares traded on Tuesday. While there was no news from the company or a catalyst to explain the gain, it's been a rough a month for ACADIA after it was revealed that the company’s drug is being investigated for its efficacy. Roddy Boyd of The Southern Investigative Reporting Foundation’s has said that he had major concerns about the benefits and risks of the company’s sole drug, Nuplazid. The company's sales tactics were also concerning according to Boyd. He published a report earlier in the month titled, “Acadia Pharmaceuticals: This Is Not a Pharmaceuticals Company.” According to the report, certain regulatory loopholes were used by ACADIA to get Nuplazid approved. Nuplazid is the first & only medicine FDA-approved to treat hallucinations & delusions associated with Parkinson's disease psychosis. The report remarked on the company's sales tactics and read, "In a word, Acadia didn’t just open up its corporate wallet for doctors: It pointed a hose and sprayed cash at them."
Access RDI’s ACADIA Pharmaceuticals Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ACAD
Our Actionable Research on AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) and ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
