ACADIA Pharmaceuticals, Ocular Therapeutix, Asana And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining by around 50 points on Tuesday.

Shares of ACADIA Pharmaceuticals Inc ACAD fell sharply in today’s pre-market trading after the company reported the Phase 3 ADVANCE-2 trial evaluating pimavanserin for the treatment of negative symptoms of schizophrenia did not meet the primary endpoint.

ACADIA Pharmaceuticals shares dipped 17.4% to $19.93 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• Power & Digital Infrastructure Acquisition II Corp. XPDB shares tumbled 12.6% to $25.57 in pre-market trading after surging 181% on Monday.
• Ocular Therapeutix, Inc. OCUL shares fell 5.9% to $9.16 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
• Aeva Technologies, Inc. AEVA shares declined 5.4% to $1.23 in pre-market trading. Aeva said it expects a 1-for-5 reverse stock split of its outstanding shares of common stock will be effective as of March 18, 2024.
• PLDT Inc. PHI fell 3.8% to $25.95 in pre-market trading after jumping over 16% on Monday.
• NextNav Inc. NN declined 3.6% to $5.07 in pre-market trading. NextNav shares jumped 35% on Monday after the company announced it signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band.
• Lexicon Pharmaceuticals, Inc. LXRX shares fell 3.2% to $2.72 in pre-market trading. Lexicon shares surged over 29% on Monday after the company said it is preparing to resubmit its Sotagliflozin NDA for Type 1 diabetes following FDA feedback. Additionally, the company announced a securities purchase agreement expected to result in gross proceeds of around $250 million.
• Asana, Inc. ASAN shares fell 2.4% to $18.35 in pre-market trading following fourth-quarter results.

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