Welcome to our dedicated page for Acorda Therapeutics news (Ticker: ACOR), a resource for investors and traders seeking the latest updates and insights on Acorda Therapeutics stock.
Acorda Therapeutics, Inc. (Nasdaq: ACOR) is a biotechnology company committed to developing therapies to restore neurological function and improve the lives of individuals with neurological disorders. Founded in 1995, Acorda has evolved from a small network of scientists and medical professionals into a commercial-stage company known for its innovative products. The company's core offerings include INBRIJA® (levodopa inhalation powder) and AMPYRA® (dalfampridine) Extended Release Tablets. INBRIJA is approved for the treatment of OFF episodes in adults with Parkinson’s disease on carbidopa/levodopa therapy, while AMPYRA helps improve walking in adults with multiple sclerosis (MS).
Acorda's commitment to research and development, as well as its close collaborations with patient, medical, and scientific communities, has driven its success. The company has earned accolades for being one of the best workplaces in New York over the past five years due to its dynamic environment and strong corporate culture.
In recent financial updates, Acorda reported a Q2 2023 U.S. net revenue of $8.3 million for INBRIJA, reflecting a 12% increase from Q2 2022. AMPYRA's Q2 2023 net revenue stood at $16.9 million, a 7% decrease from the previous year. Despite financial challenges, including not expecting to be cash flow neutral in 2023, Acorda continues to revise and manage operating expenses efficiently.
The company has also regained compliance with Nasdaq after a 1-for-20 reverse stock split. Acorda announced a new board member, Tom Burns, and has continuously worked on strategic partnerships to enhance its global footprint. Notably, Biopas Laboratories has filed for the approval of INBRIJA in six Latin American countries, with more filings expected in Chile, Mexico, and Brazil in the near future.
Despite a recent Chapter 11 bankruptcy filing and plans to sell its assets to Merz Therapeutics, Acorda reassures stakeholders that patient access to INBRIJA and AMPYRA will continue uninterrupted. The decision for bankruptcy was the outcome of a strategic review, aiming to maximize asset value through a competitive auction process.
Acorda's mission remains steadfast in innovating and providing effective therapies for those affected by neurological disorders. The company continues to focus on maintaining its operations and achieving its financial goals during this transitional period.
Acorda Therapeutics (Nasdaq: ACOR) announced it will present data on INBRIJA (levodopa inhalation powder) and OFF periods at the American Academy of Neurology (AAN) Annual Meeting in Boston from April 22 to April 27, 2023. The specific poster, titled "Subgroup Analyses of Effect of Treatment With Levodopa Inhalation Powder by Severity of OFF Symptoms in People With Parkinson’s Disease," is scheduled for presentation on April 25, 2023, from 11:45 AM to 12:45 PM at Poster #017 in Neighborhood 11, Session P8. INBRIJA is designed for adults with Parkinson’s experiencing OFF episodes while on carbidopa/levodopa therapy and employs Acorda’s ARCUS pulmonary delivery system. A virtual poster hall will remain accessible until May 15, 2023. Acorda's therapies aim to enhance the quality of life for those with neurological disorders.
Acorda Therapeutics has launched a new television commercial for INBRIJA® (levodopa inhalation powder) in recognition of Parkinson’s Awareness Month. The ad will be broadcast on around 50 streaming platforms, including Hulu and Paramount+, targeting households identified as affected by Parkinson's disease. The campaign aims to raise awareness about OFF periods in Parkinson's patients and promote INBRIJA as an on-demand treatment option. Additionally, a digital campaign will provide more information and connect viewers with nurse educators. Acorda emphasizes the cost-effectiveness of reaching its audience through streaming services.
Acorda Therapeutics will host a virtual Q&A session with CEO Ron Cohen on April 4, 2023, at 1:00 PM ET. The session aims to provide an overview of the company's 2022 financial and business performance, allowing participants to submit their questions live. Interested individuals can join via a link or by phone, with dedicated instructions provided. Acorda is known for developing therapies for neurological disorders, including INBRIJA for Parkinson’s disease and AMPYRA (dalfampridine).
Forward-looking statements highlight potential risks in marketing and operational aspects, emphasizing uncertainties that may affect the company's performance.
Acorda Therapeutics reported its financial results for Q4 and full year 2022, with U.S. net revenue from INBRIJA at $28MM and AMPYRA at $72.9MM. Q4 saw INBRIJA net revenues of $9MM, down 13.1%, and AMPYRA at $18.8MM, down 16.6%. Despite declines, the company met its financial guidance for 2022. Acorda achieved a net income of $19.1MM in Q4, largely due to debt extinguishment gains and arbitration awards. Full-year net loss improved to $65.9MM compared to $104MM in 2021. The company anticipates 2023 U.S. net revenue of $38-42MM for INBRIJA and $65-70MM for AMPYRA, with plans to reduce operating expenses.
Acorda Therapeutics (NASDAQ: ACOR) announced the launch of INBRIJA 33 mg (levodopa inhalation powder) by Esteve Pharmaceuticals in Spain, aimed at treating OFF episodes in adults with Parkinson's disease. Acorda will receive a significant double-digit percentage of the selling price under a supply agreement. The Spanish Ministry of Health estimates at least 160,000 people in Spain are affected by Parkinson's, with 10,000 new cases diagnosed each year. Esteve previously launched INBRIJA in Germany and is expanding commercialization efforts across Latin America and Europe.
Acorda Therapeutics, Inc. (NASDAQ: ACOR) will host a webcast/conference call on March 9, 2023, at 8:30 a.m. ET to discuss its fourth quarter and year-end 2022 financial results. Interested participants can register via a provided link and submit questions for the Q&A session. The presentation will be accessible on Acorda's Investor Relations website. A replay of the call will be available from 7:30 p.m. ET on March 9 until 11:59 p.m. ET on April 8, 2023. Acorda develops therapies for neurological disorders, including the approved INBRIJA® for Parkinson’s disease.
Acorda Therapeutics has received an extension from the Nasdaq Hearings Panel until June 20, 2023 to comply with the minimum bid price requirement of $1 per share. The Company plans to organically achieve compliance through a comprehensive business plan focused on fiscal discipline and brand growth. If compliance is not met, a reverse stock split will be executed as authorized by shareholders in November 2022. The Company reports ongoing efforts to market its products, INBRIJA and AMPYRA, amidst potential risks including competition and regulatory challenges.
Acorda Therapeutics (NASDAQ: ACOR) will present at the Sequire Biotechnology Conference on February 2, 2023, at 3:00 p.m. ET. The presentation will be led by Ron Cohen, M.D., President and CEO of Acorda. Investors can register to watch the event HERE. A webcast will also be accessible on Acorda's website starting February 3. The biotechnology sector continues to show strong growth potential, expected to reach over $727 billion by 2025.
Acorda Therapeutics has signed a long-term supply agreement with Catalent for INBRIJA production until 2030, reducing purchase requirements from $18 million to $8.5 million in 2023 and $15.5 million in 2024. The partnership aims to enhance manufacturing capacity and significantly lower production costs by 2026. Acorda will also incur an $8 million fee for terminating the previous agreement, and the new contract ensures a continuous supply of INBRIJA for Parkinson's patients.
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