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SMALL BUSINESS
Acadia 3Q loss narrows on revenue boost
AP
SAN DIEGO -Acadia Pharmaceuticals Inc. said Monday its third-quarter loss narrowed on lower costs and a boost in revenue from its drug development partners.
The development-stage biopharmaceutical company lost $8.7 million, or 23 cents per share, compared with a loss of $15.6 million, or 42 cents per share, during the same period a year prior. Revenue surged to $2.4 million from $282,000, mainly on the company's collaboration with Biovail.
Analysts expected a loss of 24 cents per share.
The company is working with Biovail on pimavanserin as a potential Parkinson's disease treatment and schizophrenia therapy. They've been partners since May.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-09 18:27:37
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