Acorda Therapeutics, Inc. Stock Price, News & Analysis

Acorda Therapeutics (NASDAQ: ACOR) has withdrawn its Proposal One to increase the number of authorized shares from the ballot for the Special Meeting of Stockholders on November 4, 2022.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.

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.

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.

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.

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.

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.

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.

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.

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.