SAN DIEGO (AP) - Acadia Pharmaceuticals Inc. said Monday development partner
Allergan Inc. will start a study on a glaucoma treatment candidate, triggering a
milestone payment to Acadia.
Acadia didn't disclose the amount of the payment in a press release. The
compounds in the planned study were discovered by Acadia.
The Acadia and Allergan are also collaborating on treatment candidates for
neuropathic pain.
Allergen is responsible for development of products under the collaboration,
and holds worldwide rights to the products. Acadia is entitled to milestone
payments and royalties.
Shares of Acadia fell 6 cents to $13.64 while shares of Allergan fell 11
cents to $58.32 in midday trading.
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