Acadia Pharmaceuticals announces retirement of R&D head, names interim consultant

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) reported Friday that Elizabeth H.Z. Thompson, Ph.D., Executive Vice President and Head of Research and Development, has retired from her role at the company. According to a press release statement, Dr. Thompson’s retirement became effective Friday.

The company stated that Dr. Thompson informed Acadia of her planned retirement for personal reasons in April, as previously disclosed in an earlier SEC filing. Effective immediately, Dr. Thompson is no longer an employee or Head of Research and Development.The leadership transition comes as Acadia’s stock trades near its 52-week low at $19.73, down 26% year-to-date, giving the company a market capitalization of $3.5 billion. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment, with earnings results due in 12 days. The platform offers additional insights through 9 more ProTips and comprehensive financial metrics for investors monitoring the R&D transition.

Acadia also announced that Dr. Thompson will continue to provide limited consulting services to the company through December 31, 2026. The company is in the process of identifying a replacement for the Head of Research and Development position.

The information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Acadia Pharmaceuticals has been the focus of several analyst updates following its Phase 2 trial results for remlifanserin in Alzheimer’s disease psychosis. The trial narrowly missed its primary endpoint, prompting H.C. Wainwright to lower its price target to $33 while maintaining a Buy rating. Similarly, Needham adjusted its price target to $35, also maintaining a Buy rating, after analyzing the study’s results, which showed meaningful outcomes in a subgroup of patients. Citizens followed suit, reducing its price target to $33 but kept a Market Outperform rating. On a different note, Goldman Sachs reiterated its Sell rating with a $17 price target due to the trial’s failure to meet its primary endpoint. Meanwhile, RBC Capital maintained its Outperform rating with a $37 price target, emphasizing that Acadia’s base business appears undervalued, notwithstanding the potential contributions from its pipeline or intellectual property related to Daybue. These developments highlight the mixed reactions among analysts regarding Acadia’s recent trial outcomes and future prospects.