ACADIA Pharmaceuticals Inc. Securities Fraud Investigation

Shamis & Gentile, P.A. is investigating claims on behalf of investors of ACADIA Pharmaceuticals Inc. ("ACADIA Pharmaceuticals" or the "Company") (ACAD). Impacted investors are advised to contact the firm now.

What's Being Investigated?

The investigation focuses on potential misrepresentations and omissions made by ACADIA Pharmaceuticals regarding the clinical prospects and development status of its drug candidates, particularly ACP-101 (intranasal carbetocin) for Prader-Willi syndrome (PWS) and pimavanserin for schizophrenia, throughout the period from November 30, 2023 through late-September 2025.

Throughout this period, the Company and its executives issued a series of optimistic statements in earnings releases, press releases and investor presentations characterizing ACP-101 as a promising candidate for PWS and discussing the development program for pimavanserin. These statements may not have adequately disclosed that earlier Phase 3 studies of ACP-101 did not achieve statistical significance on their primary endpoints, and may have omitted cautionary language about the true status and risks associated with its clinical programs.

Questions have been raised as to whether ACADIA Pharmaceuticals adequately disclosed key trial failures during this period, possibly contradicting its earlier guidance and raising questions about the accuracy and completeness of prior disclosures.

Report and Initial Market Reaction

On March 11, 2024, ACADIA Pharmaceuticals announced that its late-stage trial of pimavanserin for schizophrenia failed to show efficacy, prompting the immediate cessation of further clinical trials for that indication. On September 24, 2025, the Company provided a further update confirming that ACP-101 did not demonstrate a statistically significant improvement over placebo on either the primary or secondary endpoints in the Phase 3 COMPASS PWS trial and would not be advanced further.

Market Reaction

On this news, ACADIA Pharmaceuticals' stock price fell $2.34 per share, or 9.9%, to close at $21.26 on September 24, 2025, erasing hundreds of millions in market capitalization and causing substantial losses to investors.

What Investors Can Do

If you purchased or acquired ACADIA Pharmaceuticals during the period under review, you may be eligible to seek compensation for your losses. Contact Shamis & Gentile, P.A. today to discuss your options.

Shamis & Gentile, P.A. stands out as an advocate for investors who are victims of securities fraud. The firm is committed to securing recoveries for investors who have incurred damages due to false and misleading statements or other corporate misconduct by public companies. Shamis & Gentile has recovered over $1 billion for consumers nationwide. Its extensive experience, expertise and resources enable the firm to resolve disputes in a wide range of matters, including class actions, mass torts and mass arbitrations.

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