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Acorda Therapeutics, Inc. - ACOR STOCK NEWS

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.

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Acorda Therapeutics secured a favorable ruling from a three-judge arbitration panel against Alkermes PLC, with a monetary award of $15 million plus $1.5 million in pre-judgment interest. The decision relieves Acorda from paying royalties on AMPYRA sales, allowing them to source AMPYRA at competitive rates. This will enhance their profit margins and support ongoing services for patients with multiple sclerosis.

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Acorda Therapeutics (NASDAQ: ACOR) has withdrawn its Proposal One to increase the number of authorized shares from the ballot for the Special Meeting of Stockholders on November 4, 2022. However, Proposal Two, which seeks authorization for a Reverse Stock Split, remains critical to prevent potential delisting from Nasdaq by maintaining a stock price above $1.00. The CEO emphasized that this split will not alter shareholders' ownership value. The Special Meeting will also include a proposal to adjourn for additional proxy solicitation.

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Acorda Therapeutics (NASDAQ: ACOR) announced that CEO Ron Cohen will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 12 at 3 p.m. ET. The conference will be hybrid, allowing both in-person and virtual attendance. Acorda's presentation will be accessible only to registered attendees, who can view it live and on-demand for 30 days via the H.C. Wainwright Conference Platform. Acorda develops therapies for neurological disorders, including INBRIJA® and AMPYRA®, aimed at enhancing patient lives.

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Acorda Therapeutics announced a license agreement with Asieris Pharmaceuticals for its preclinical asset, Nepicastat. Acorda will receive an upfront payment of $500,000 and could earn up to $7 million upon achieving regulatory milestones, along with royalties on future net sales. Nepicastat is intended for non-psychiatric therapeutic applications and has been managed by Acorda’s U.S. subsidiary, Biotie Therapies. This agreement enhances Acorda’s potential revenue streams as it continues to focus on therapies for neurological disorders.

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Acorda Therapeutics announced the resignation of Chief Operating Officer Lauren Sabella, effective September 30, 2022. During her 13-year tenure, she played a key role in launching AMPYRA, a treatment for multiple sclerosis, which facilitated further clinical development for products like INBRIJA for Parkinson's disease. Her duties will be managed by current team members Sofia Ali and Susan Way. The company remains focused on improving the lives of patients with neurological disorders through innovative therapies.

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Acorda Therapeutics reported Q2 2022 financial results showing a significant increase in INBRIJA U.S. net revenue, reaching $7.4 million, a 16% rise from Q2 2021 and a 100% increase from Q1 2022. Ex-U.S. revenue from INBRIJA was $1.9 million due to its launch in Germany. However, AMPYRA revenue fell to $18.2 million from $21.8 million in the same period last year. The company reported a GAAP net loss of $46.7 million or $2.78 per diluted share, worsening from $22.9 million in Q2 2021. Full-year AMPYRA revenue guidance remains at $68-$78 million.

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Acorda Therapeutics (NASDAQ: ACOR) will conduct a webcast on August 4, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 financial results. Registration is required to participate and submit questions. A replay will be available from 7:30 p.m. ET on the same day until September 4, 2022. Acorda specializes in therapies for neurological disorders, including INBRIJA® for Parkinson’s disease and AMPYRA® for multiple sclerosis. The press release also includes forward-looking statements detailing potential risks affecting the company.

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Acorda Therapeutics (NASDAQ: ACOR) announces the launch of INBRIJA® 33 mg in Germany, indicated for treating OFF episodes in Parkinson's patients. Under agreements with Esteve Pharmaceuticals, Acorda will receive a significant double-digit percentage of the selling price and additional sales-based milestones. Revenue is expected to start in Q2 2022. The launch addresses a need for treatment in Germany, where approximately 400,000 people have Parkinson's disease. Acorda also plans commercial launches in Spain and Latin America.

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Acorda Therapeutics and Biopas Laboratories have announced distribution agreements to commercialize INBRIJA® in Latin America, targeting over 400,000 people living with Parkinson's disease in the region. Acorda will earn a significant, tiered percentage of INBRIJA's selling price and receive sales-based milestones. Biopas will hold exclusive distribution rights in nine countries, including Brazil and Mexico, and aims to expedite marketing authorization. This partnership is seen as a strategic move to address unmet medical needs in Latin America.

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Acorda Therapeutics reported Q1 2022 financial results, showing a net revenue of $3.7 million for INBRIJA and $14.9 million for AMPYRA, both representing decreases of 26% and 27% year-over-year, respectively. The company reiterated its 2022 AMPYRA net sales guidance of $68-$78 million. Significant agreements were made with Biopas Laboratories for INBRIJA's commercialization in Latin America. Despite Q1 declines, Acorda's CEO noted a sales rebound in March and ongoing growth expectations in the region.

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FAQ

What is the market cap of Acorda Therapeutics (ACOR)?

The market cap of Acorda Therapeutics (ACOR) is approximately 821.0K.

What does Acorda Therapeutics, Inc. do?

Acorda Therapeutics develops therapies to restore neurological function and improve the lives of people with neurological disorders. Their core products include INBRIJA® for Parkinson's disease and AMPYRA® for multiple sclerosis.

What are the main products of Acorda Therapeutics?

Acorda's main products are INBRIJA® (levodopa inhalation powder) for treating OFF episodes in Parkinson’s disease and AMPYRA® (dalfampridine) Extended Release Tablets for improving walking in adults with multiple sclerosis.

What recent financial achievements has Acorda reported?

In Q2 2023, Acorda reported a 12% increase in U.S. net revenue for INBRIJA, totaling $8.3 million, and a 7% decrease in net revenue for AMPYRA, totaling $16.9 million.

What significant business update did Acorda announce regarding Nasdaq compliance?

Acorda regained compliance with Nasdaq's minimum bid price requirement after completing a 1-for-20 reverse stock split.

What recent strategic partnerships has Acorda entered into?

Acorda has partnered with Biopas Laboratories to file for the approval of INBRIJA in six Latin American countries, with additional filings expected in Chile, Mexico, and Brazil.

What is the status of Acorda's Chapter 11 bankruptcy filing?

Acorda filed for Chapter 11 bankruptcy to facilitate an orderly sale of its assets, with Merz Therapeutics as the stalking horse bidder. The sale process is expected to conclude by June 2024.

Will the bankruptcy filing affect patient access to Acorda's medications?

No, patient access to INBRIJA and AMPYRA will continue uninterrupted during the bankruptcy process.

Why did Acorda file for Chapter 11 bankruptcy?

Acorda filed for Chapter 11 bankruptcy after a strategic review to maximize the value of its assets through a competitive auction process.

Who has recently joined Acorda's Board of Directors?

Tom Burns, the Senior Vice President of Finance and Chief Financial Officer of XOMA Corporation, was recently elected to Acorda's Board of Directors.

What is Acorda's mission?

Acorda's mission is to develop therapies that restore neurological function and improve the lives of people with neurological disorders.
Acorda Therapeutics, Inc.

Nasdaq:ACOR

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821.03k
1.22M
0.69%
13.22%
0.65%
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