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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) is set to host a webcast and conference call on May 11, 2022, at 4:30 p.m. ET, to discuss its first quarter 2022 update and financial results. Participants can pre-register through the provided link. A replay will be available from 7:30 p.m. ET on the same day until June 10, 2022. Acorda focuses on therapies for neurological disorders, including INBRIJA® and AMPYRA®, utilizing its innovative ARCUS® pulmonary delivery system.
Acorda Therapeutics reported its Q4 and full year 2021 financial results, highlighting AMPYRA net revenue of $22.5 million, down from $25.3 million in Q4 2020, and a full year revenue of $84.6 million compared to $98.9 million in 2020. INBRIJA saw a revenue increase of 22% year-over-year with $10.4 million in Q4 and $29.6 million for the year. The company expects 2022 AMPYRA revenue between $68-$78 million and operating expenses of $110-$120 million. Acorda also retired its short-term convertible debt and projects cash flow neutrality by end of 2022.
Acorda Therapeutics (NASDAQ: ACOR) plans to host a webcast/conference call on March 9, 2022, at 4:30 p.m. ET, to discuss its fourth quarter and year-end 2021 financial results. Participants can register via a provided link. A replay of the call will be available starting at 7:30 p.m. ET the same day until April 8, 2022. Acorda focuses on therapies for neurological disorders, including the inhaled treatment INBRIJA for Parkinson's disease and AMPYRA for improved walking in multiple sclerosis. Forward-looking statements highlight potential risks affecting product sales and operational performance.
Acorda Therapeutics (NASDAQ: ACOR) will present at the H.C. Wainwright BIOCONNECT Virtual Conference from January 10-13, 2022. The presentation, featuring CEO Ron Cohen, will be available on-demand starting January 10 at 7:00 am ET. Investors can access the webcast via the company's website. Acorda focuses on therapies for neurological disorders, including INBRIJA, approved for treating OFF episodes in Parkinson's patients, and AMPYRA, used for improving walking in multiple sclerosis patients. The company warns of potential risks regarding product sales and market competition.
Acorda Therapeutics (NASDAQ: ACOR) announced the appointment of John Varian to its board of directors, effective January 1, 2022. Varian's extensive biopharma experience, including previous roles as CEO and CFO, is expected to enhance the company's strategic goals, including optimizing its financial structure and accelerating growth for INBRIJA, a treatment for Parkinson's disease. CEO Ron Cohen expressed optimism about Varian's contributions, while Varian himself acknowledged Acorda's significant opportunities and challenges ahead.
Acorda Therapeutics has signed a distribution agreement with Esteve Pharmaceuticals to commercialize INBRIJA in Germany. The deal includes a €5 million upfront payment and sales-based milestones, providing Acorda with a significant double-digit percentage of sales. INBRIJA, a treatment for Parkinson's disease, is expected to launch in mid-2022. Currently, there are around 400,000 people with Parkinson's in Germany, highlighting the potential market. Acorda is also in discussions for distribution rights in other European countries.
Acorda Therapeutics (Nasdaq: ACOR) reported Q3 2021 net revenue of $7.8 million for INBRIJA, a 34% increase from Q3 2020, and $20.0 million for AMPYRA, down from $27.3 million. The company announced a partnership with ESTEVE to commercialize INBRIJA in Germany, with a €5 million upfront payment. Leadership changes include Michael Gesser as CFO and Neil Belloff as General Counsel. Acorda aims to be cash flow positive by the end of 2022. The company reported a GAAP net loss of $27.1 million for the quarter, and cash reserves decreased to $62 million.
Acorda Therapeutics, Inc. (NASDAQ: ACOR) will host a Webcast to discuss its third quarter 2021 update and financial results on November 9 at 4:30 p.m. ET. Participants can register via a provided link to receive a confirmation email with Webcast details. A replay will be accessible from 7:30 p.m. ET on the same day until December 9. Acorda develops therapies for neurological disorders, including INBRIJA® for Parkinson's and AMPYRA® for multiple sclerosis. The press release also outlines potential risks affecting the company's market position and product sales.
Acorda Therapeutics (ACOR) announced a corporate restructuring plan aimed at reducing costs by 15% in headcount, primarily to align operating expenses with expected revenue. The company anticipates annualized savings exceeding
Acorda Therapeutics reported a 36% increase in INBRIJA net sales for Q2 2021, reaching $6.4 million, compared to $4.7 million in Q2 2020. AMPYRA net revenue declined to $21.8 million from $26.1 million year-over-year. R&D expenses decreased to $2.4 million, while SG&A expenses fell to $32.4 million. The company reported a GAAP net loss of $22.9 million, up from $17.4 million in the same quarter last year. Acorda expects AMPYRA revenues for 2021 between $75 - $85 million, but remains cautious on INBRIJA's projected peak revenue due to pandemic uncertainties.
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