BMO Capital analyst Evan Seigerman notes that a U.S. district court issued a ruling in favor of Acadia Pharmaceuticals (ACAD) in their Nuplazid patent infringement lawsuit with Aurobindo, confirming today that Aurobindo infringed on claims 4 and 5 of Acadia’s 11,452,721 U.S. formulation patent. Today’s announcement likely extends the lifespan of pimavanserin and could extend the company’s patent protection from 2030 to 2038, removing a “key overhang,” says the analyst, who reiterates an Outperform rating and $24 price target on Acadia shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACAD:
- Acadia Pharmaceuticals price target raised to $30 from $27 at Needham
- ACADIA Pharmaceuticals: Buy Rating Affirmed Amid Legal Victory and Promising R&D Prospects
- District court finds Aurobindo infringes Acadia Pharmaceuticals patent claims
- Acadia Pharmaceuticals files to sell 43.58M shares of common stock for holders
- ACADIA Pharmaceuticals Reports Strong Q1 Earnings Growth