Acadia Pharma's Sales Come Twice As Much As Expected
Shares of Acadia Pharmaceuticals Inc. shares rose more than 11% late Monday after the San Diego, Calif.-based company reported a loss in line with expectations and sales that were well above forecasts. The company reported a net loss of $71.6 million, or 61 cents a share, compared to a net loss of $38.9 million, or 39 cents a share, in the year-ago period. Sales rose to $5.27 billion in the first full quarter of full commercialization for the company's drugs, from $39 million a year ago. Analysts polled by FactSet had expected a per-share loss of 60 cents on sales of $2.6 billion. The stock ended the regular trading day up 6%.
Copyright © 2016 MarketWatch, Inc.