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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) announces a conference call to discuss its Q2 2021 financial results on August 5 at 4:30 p.m. ET. Participants can register for the webcast and call via provided links. A replay will be available from 7:30 p.m. ET on August 5 until September 4. Acorda develops therapies for neurological disorders, with products like INBRIJA® for Parkinson's disease and AMPYRA® for multiple sclerosis. The company cautions that forward-looking statements depend on various risks, including market competition and regulatory challenges.
Acorda Therapeutics (Nasdaq: ACOR) has partnered with Esteve Pharmaceuticals to distribute INBRIJA® (levodopa inhalation powder) in Spain. This medication targets intermittent motor fluctuations in Parkinson’s disease patients. Acorda will receive a significant double-digit percentage of the selling price, while Esteve holds exclusive distribution rights, planning to launch INBRIJA in Q4 2022. With around 300,000 Parkinson's patients in Spain, this partnership aims to enhance treatment options for those in need.
Acorda Therapeutics (Nasdaq: ACOR) has fully repaid its 1.75% Convertible Senior Notes amounting to $69 million ahead of maturity using cash on hand. This repayment is seen as a significant milestone following the company's earlier sale of its manufacturing operations. CEO Ron Cohen emphasized a focus on enhancing the growth of INBRIJA and AMPYRA while maintaining financial discipline to reach cash flow breakeven. Acorda develops treatments for neurological disorders, notably highlighting INBRIJA for Parkinson's disease.
Acorda Therapeutics (Nasdaq: ACOR) reported a GAAP net loss of $33.5 million, or $3.53 per diluted share, for Q1 2021, compared to a $6.5 million net loss in Q1 2020. Revenue for INBRIJA increased to $5 million, up from $4.4 million year-over-year, while AMPYRA sales remained stable at $20.3 million. R&D expenses decreased to $4.7 million, and SG&A expenses fell to $34 million. The company expects AMPYRA revenue between $75-$85 million for 2021 and operating expenses of $130-$140 million. Acorda aims to be cash-flow neutral by the end of 2022.
Acorda Therapeutics (NASDAQ: ACOR) will conduct a conference call and webcast on May 6, 2021, at 4:30 p.m. ET, to discuss its first quarter 2021 update and financial results. This event includes a new pre-registration process for participants. A replay of the call will be available from 7:30 p.m. ET on the same day until June 3, 2021. Acorda focuses on developing therapies for neurological disorders, including INBRIJA® for Parkinson's disease and AMPYRA® for multiple sclerosis, utilizing its ARCUS® pulmonary delivery system. Forward-looking statements are included, highlighting potential risks to business operations.
Acorda Therapeutics (NASDAQ: ACOR) has partnered with culinary icon Zarela Martinez to launch “A Taste for Life with Zarela” in honor of Parkinson’s Awareness Month. The video series highlights Zarela's personal journey with Parkinson’s disease and offers recipes promoting healthy living. Zarela, diagnosed in 2004, shares her experience managing symptoms with nutrition and exercise, alongside the use of INBRIJA® (levodopa inhalation powder) since its launch in 2019. INBRIJA is the first inhaled levodopa for managing OFF episodes in Parkinson's patients.
Acorda Therapeutics (NASDAQ: ACOR) announces that CEO Ron Cohen will present at the H.C. Wainwright Global Life Sciences Virtual Conference on March 9th & 10th. The event will showcase advancements in therapies aimed at neurological disorders, including Acorda's products like INBRIJA and AMPYRA. INBRIJA is designed for intermittent treatment of OFF episodes in Parkinson’s disease. The company highlights potential risks, including market competition and manufacturing challenges, affecting future performance.
Acorda Therapeutics (Nasdaq: ACOR) reported its Q4 and full-year 2020 financial results, highlighting significant changes. The company sold its manufacturing operations for $80 million, resulting in an expected annual operating expense reduction of $40 million. INBRIJA net revenue increased to $9.3 million in Q4 2020, up from $6.1 million in Q4 2019, while AMPYRA revenue fell to $25.3 million from $40.8 million. Acorda posted a GAAP net loss of $83 million in Q4 2020, compared to a profit of $65.7 million in Q4 2019. Looking ahead, Acorda projects AMPYRA revenue of $75-$85 million for 2021.
Acorda Therapeutics (NASDAQ: ACOR) will host a conference call and webcast on March 4, 2021, at 4:30 p.m. ET to discuss its fourth quarter and annual financial results for 2020. Registrants will receive a confirmation email with participation details. A replay of the call will be available until April 3, 2021. Acorda develops therapies for neurological disorders, including INBRIJA and AMPYRA. The company warns of risks affecting future performance, including the COVID-19 pandemic and market competition.
Acorda Therapeutics (Nasdaq: ACOR) announced the resignation of David Lawrence, Chief of Business Operations and principal accounting officer, effective mid-March 2021. Lawrence is moving to a leadership role in an early-stage biotech firm. Acorda's President, Ron Cohen, acknowledged his 22 years of service. Lawrence stated he leaves the company in an excellent position following recent financial improvements. Robert Morales will be the interim principal accounting and financial officer. Acorda focuses on therapies for neurological disorders, including its products INBRIJA and AMPYRA.
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