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Biotech / Medical : ACADIA Pharmaceuticals Inc (ACAD) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (321)	8/10/2006 12:58:17 PM
From: tuck	Read Replies (2) \| Respond to of 588

There is this disclosure from the 10-Q: >>ITEM 5. OTHER INFORMATION On August 8, 2006, Sepracor advised us that it would not exercise its option under the companies’ existing collaboration agreement to select a single preclinical compound from our serotonin program for use in combination with LUNESTA to treat insomnia. The collaboration will continue to be focused on our preclinical muscarinic program, and Sepracor’s decision will not change the level of research funding payable to us pursuant to the agreement. While we will no longer be eligible to receive potential milestones or royalties from a combination product under the agreement, we may still receive milestones and royalties from the successful development of products from the muscarinic program. << Half the Sepracor program gone is probably what's behind this. Still seems overdone given the potential of the later stage pipe, and I'm comfortable averaging down. Cheers, Tuck