Acadia CEO Uli Hacksell To Retire; Postpones Submission Of Nuplazid NDA

(RTTNews) - Acadia Pharmaceuticals Inc (ACAD) on Wednesday said that Uli Hacksell has retired as its chief executive officer and as a member of the board, effective immediately.

Hacksell would be replaced on an interim basis by Steve Davis, currently the company's executive vice president, chief financial officer and chief business officer.

Acadia said that Hacksell will remain as a special advisor to the company during the transition period, and it has initiated a search for a permanent CEO.

Separately, Acadia said that it has postponed the planned new drug application submission for Nuplazid (pimavanserin), citing additional time required to complete the preparation of systems to support commercial manufacturing and supply and to support the U.S. Food and Drug Administration's review of the drug.

Acadia said it now plans to submit its Nuplazid NDA for the treatment of Parkinson's disease psychosis in the second half of 2015; the company had previously planned to submit the NDA in the first quarter of 2015. Nuplazid received Breakthrough Therapy designation from the FDA last year.

The company clarifited that the change in submission timing is not a result of any change to Nuplazid's clinical or safety profile, nor is it a result of any interaction with or request for information from the FDA.

ACAD closed Wednesday at $44.76, down $1.12 or 2.44%, on a volume of 6.2 million shares on the Nasdaq. In after hours, the stock dropped $10.01 or 22.36% at $34.75.