Shares in Acadia Pharmaceuticals surged by almost 25% in the latest trading session, finishing at $32.18.*
Performance of ACADIA Pharmaceuticals Inc over 5 years. Source: investing.com
This big jump is thanks to an exciting announcement about a deal with Neuren Pharmaceuticals. As part of the deal, Acadia will now be able to sell the drug trofinetide outside of North America. Plus, Acadia has bagged exclusive rights to a drug in development by Neuren, known as NNZ-2591, for the treatment of Rett syndrome and Fragile X syndrome. In return, Neuren will get a $100 million payment upfront, along with the possibility of further payments based on future success. Even though Acadia is expected to report a slight loss of $0.22 per share in its upcoming report, experts are feeling optimistic. They've increased their earnings estimate for the company by 7.7% over the last month, hinting at a possible increase in the share price in the future. On the other hand, Tango Therapeutics, another company in the same industry, saw a slight dip in its share price. It closed at $3.43, which is a 0.6% decrease.*
Performance of Tango Therapeutics Inc over 5 years. Source: investing.com
The company's earnings estimate for the upcoming report hasn't changed over the past month and remains at a loss of $0.35 per share.
* Past performance is no guarantee of future results
Warner Bros., one of Hollywood's legendary film studios, is facing a storm of challenges as strikes and labor disputes sweep through its production teams. These labor actions have disrupted some of the industry's most highly antici...
Japan's SoftBank Group is anticipated to announce a return to profitability in its upcoming first-quarter earnings, riding on the resurgence of its Vision Fund investing arm's tech stock portfolio.[1]
Direct-to-consumer beauty company, Oddity Tech, saw its shares surge by around 40% in its initial trading on Wednesday. The stock, trading under the symbol ODD on Nasdaq, opened at $49.10 a share, significa...