SEC Charges Acadia Pharma Executive With Insider Trading on FDA Decision

George Demos, former Vice President of Drug Safety at Acadia Pharmaceuticals, was charged March 7, 2025 with trading company securities based on material nonpublic information about an adverse FDA decision. The charges cite violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act. Regulatory decisions in pharma move stock prices sharply, giving insiders substantial timing advantages.