Culper Research short Acadia, calls Daybue launch ‘total flop’

Culper Research announced it is short Acadia Pharmaceucals, citing the firm’s belief that Acadia’s April 2023 launch of Daybue, the company’s highly-ancipated “first and only” drug to treat Rett Syndrome, has “been a total flop.” The firm, which thinks Acadia has “misrepresented Daybue’s safety profile,” wrote that “despite an initial outburst of interest in the drug, our research reveals that patients, caregivers, physicians, and insurers have all soured on the drug” and contends that peak revenues “will be a mere fraction of sell-side estimates,” while “Daybue’s flop will have knock-on effects as ACADIA remains a cash-burning machine.”