Acadia Shares Drop 22% On Drug Delay, CEO Departure

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Shares of Acadia Pharmaceuticals Inc. dropped more than 22% after hours Wednesday when the drug maker said it would delay submitting a new-drug application for Nuplazid until later this year. The company also said that Chief Executive Uli Hacksell is retiring. San Diego-based Acadia had planned to submit its application during the first quarter of this year for Nuplazid, designed to treat Parkinson's disease psychosis. In a press release, Acadia said it now has pushed that back to the latter half of the year.

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