Why ACADIA Pharmaceuticals (ACAD) Shares Are Trading Higher

ACADIA Pharmaceuticals Inc ACAD shares are trading higher by 6.23% to $19.11 Monday morning after the company announced the availability of DAYBUE for treatment of Rett syndrome.

What Else?

ACADIA says DAYBUE has demonstrated the potential to improve the signs and symptoms of Rett syndrome. The company says the drug was approved by the U.S. Food and Drug Administration (FDA) on March 10.

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Per ACADIA, DAYBUE is the first and only drug approved by the FDA for the treatment of Rett syndrome.

"The Rett syndrome community has been waiting a long time for a drug to treat this debilitating disorder. We have worked hard to make DAYBUE available as quickly as possible following FDA approval," said Steve Davis, Acadia's CEO.

"We are focused on providing robust patient support resources through Acadia Connect^® to help caregivers and healthcare providers access this important new therapy."

According to data from Benzinga Pro, ACAD has a 52-week high of $23.54 and a 52-week low of $12.24.