By The Associated Press
Tuesday, September 1, 2009
Canadian biotechnology company Biovail Corp. said Tuesday its drug candidate pimavanserin failed to meet key treatment goals in a late-stage study focusing on patients with Parkinson's disease psychosis.
The drug candidate did not meet the study's standard of anti-psychotic effectiveness. The company cited better-than-expected results in patients taking placebo.
The drug reached secondary goals of improving motoric tolerability, or motor function.
Symptoms associated with Parkinson's disease psychosis include visual hallucinations and delusions.
Shares of Biovail closed at $12.72 Monday.