(Corrects last paragraph to show that shares were up 7.2 percent, not 32.36 percent)
Dec 20 (Reuters) - Acadia Pharmaceuticals Inc said on Tuesday its drug to treat psychosis in patients suffering from Alzheimer’s disease met its main goal in a mid-stage study.
The company said the drug, pimavanserin, showed a statistically significant reduction in psychosis with a 3.76 point improvement at week 6, compared with 1.93 for placebo.
Acadia said a total of 181 patients were enrolled in the study in the UK and randomized on a one-to-one basis to receive either 34 mg of pimavanserin or placebo once everyday.
The drug has been approved by the US Food and Drug Administration to treat hallucinations and delusions associated with Parkinson’s disease psychosis, the company said.
Acadia said the FDA is yet to approve any drug to treat Alzheimer’s disease psychosis.
The drug’s success in the study follows a string of recent setbacks faced by companies that are developing treatments for Alzheimer’s or problems associated with the disease.
Eli Lilly and Co said last month that its experimental Alzheimer’s treatment, solanezumab, failed to slow declines in mental capacity of patients with even mild symptoms in a late-stage study.
Acadia’s stock was up 7.2 percent at $27.25 in premarket trading. Up to Monday’s close, the company’s stock had fallen about 29 percent this year. (Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Anil D‘Silva)