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ACADIA Pharmaceuticals, Inc. (NASDAQ:ACAD) announced successful top-line results from its pivotal Phase III trial which evaluates the efficacy, tolerability, and safety of pimavanserin in patients diagnosed with Parkinson’s disease psychosis, or PDP. Pimavanserin is ACADIA’s proprietary, on-dopaminergic product candidate that selectively blocks serotonin 5-HT2A receptors. Pimavanserin was successful in meeting the primary endpoint in the Phase III trial by demonstrating highly significant antipsychotic efficacy as measured using the 9-item SAPS-PD scale. Furthermore, Pimavanserin was successful in meeting the key secondary endpoint for motoric tolerability as measured via Parts II and III of the Unified Parkinson’s Disease Rating Scale, or UPDRS. Additionally, the results were further supported by significant improvement in the secondary efficacy measure, the Clinical Global Impression Improvement, or CGI-I, scale, and clinical benefits were observed in all exploratory efficacy measures with significant improvements in nighttime sleep, daytime wakefulness, and caregiver burden. Going along with previous studies, pimavanserin was safe and well tolerated in this Phase III trial.
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McMoRan Exploration Co. (NYSE:MMR): Plains Exploration (NYSE:PXP) has revealed in its latest quarterly filing that it is owner of 51 million McMoRan Exploration (NYSE:MMR) shares, accounting for 31.5 percent of the outstanding shares. Plains Exploration has dropped 2 percent today after yesterday’s pullback resulting from McMoRan’s announcement that it encountered additional problems at Davy Jones.
eBay Inc. (NASDAQ:EBAY): Yesterday’s report discussed that eBay PayPal President, David Marcus, sat down with reporters to talk about the fact that mobile payments for Cyber Monday rose 196 percent. Furthermore, Marcus talked about marketing for in-store payments and layoffs, according to TechCrunch.
Corning Inc. (NYSE:GLW) forecast was down low to mid single digits. Because of this, SVP and Corporate Controller Tony Tripeny is expected to say that Corning’s total LCD glass volume at its wholly owned business and Samsung Corning Precision Materials Co., Ltd., should rise to the mid-single digits sequentially. Also, Tripeny is expected to explain that North American TV sales are stronger than the company’s expectations during Q4, and the Chinese market still sees good demand, as the supply chain prepares for the upcoming Chinese New Year holiday. Tripeny is likely to reaffirm that Corning expects LCD glass price drops during Q4 to be slightly higher than those during Q3, due to the company’s new agreements with key customers. Also, Tripeny will likely tell investors, “We expect our share of the LCD glass market to remain stable at quarter four levels as a result of the long-term supply agreements we entered into last quarter, and we anticipate price declines will be moderate in the first quarter.”
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