Tue, Jan. 19, 6:58 AM
- Acorda Therapeutics (NASDAQ:ACOR) makes an all-cash tender offer of €0.2946 per share on the Nasdaq Helsinki index for Biotie Therapies (NASDAQ:BITI). The offer price per ADS is €23.5680 or $25.60 based on a dollar/euro exchange rate of 1.0864, representing a 94% premium over Friday's close of $13.20.
- Acorda CEO Dr. Ron Cohen says, "Our acquisition of Biotie positions Acorda as a leader in Parkinson's disease therapeutic development, with three clinical-stage compounds that have the potential to improve the lives of people with Parkinson's. Tozadenant, Biotie's most advanced clinical program, is a promising therapy being developed to reduce daily OFF time. Adenosine A2a receptor antagonists may be the first new class of drugs approved for the treatment of Parkinson's in the U.S. in over 20 years. Tozadenant is a compelling opportunity with potential market exclusivity to 2030. We are targeting an NDA filing by the end of 2018."
- The deal also includes Phase 2-stage SYN-120 for Parkinson's dementia, BTT1023 for primary sclerosing cholangitis and Selincro for the reduction of alcohol consumption (marketed by Lundbeck A/S in certain European countries).
Aug. 25, 2015, 9:19 AM| Aug. 25, 2015, 9:19 AM | 7 Comments
Aug. 24, 2015, 5:36 PM
Aug. 24, 2015, 5:35 PM
- Acorda Therapeutics (NASDAQ:ACOR) +24.3% AH after the U.S. Patent and Trademark Office denies a patent challenge against the company from Kyle Bass' Coalition For Affordable Drugs of ACOR's multiple sclerosis drug Ampyra.
- The board declines to begin a review of the patent, which expires in 2025; the decision is not subject to appeal.
- Ampyra is the only prescription medicine indicated to help improve walking in adults with MS.
Sep. 24, 2014, 12:46 PM
Sep. 24, 2014, 9:20 AM
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Mar. 6, 2014, 5:40 PM
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Jan. 13, 2014, 11:12 AM
- Shares of Acorda Therapeutics (ACOR +4.2%) are higher in morning trading after the company provided preliminary financial results in connection with the JPMorgan Healthcare Conference.
- Q4 and FY Ampyra net sales: $84M and $302M, respectively.
- 2014 Ampyra net sales guidance: $328-335M.
- 2014 opex guidance: R&D, $60-70M; SG&A, $180-190M.
- 2014 Zanaflex guidance and ex-U.S. Fampyra revenue: $25M
Oct. 14, 2013, 3:40 PM
- Acorda Therapeutics (ACOR -8.4%) falls despite reporting what the company calls "positive" results for a dalfampridine-ER proof-of-concept study in patients with post-stroke deficits.
- The treatment was "was well-tolerated and improved walking, as measured by the Timed 25-Foot Walk test." (PR)
- RBC's Michael Yee says that while the post-stroke data "is interesting," it is "not as compelling versus the MS indication."
- Speaking of the MS indication, Yee says "scripts look a bit mediocre tracking a tad shy of Q3 consensus, and overall new scripts are down too."
- Nevertheless, RBC says "expectations are pretty low and ... the stock is pretty cheap at $1.1B EV or ~3x sales plus all potential upside from label expansion or pipeline."
Jul. 5, 2013, 5:30 PM
May 20, 2013, 12:31 PM
Acorda Therapeutics (ACOR -1%) is issued a patent for Amprya entitled "Methods of Using Sustained Release Aminopyridine Compositions." This patent covers a range of dosage strengths, and is separate from 2 method of use patents issued in 2011 and 2013 that are set to expire in 2027 and 2026, respectively. The drug is approved in the United States as a treatment to improve walking in patients with multiple sclerosis.| May 20, 2013, 12:31 PM
Apr. 16, 2013, 2:17 PM
Acorda Therapeutics (ACOR +11.2%) rises for a second day after AMPYRA shows promise for post-stroke deficit patients. Heard on the conference call: 1) "What got us here [is] an adherence to analysis in science [and] we're not going to deviate from that" just to get into a Phase III trial. 2) An 18-20% improvement in the timed 25-foot walk speed "correlates very well with various measures of clinically meaningful improvement," but the comparison between the current study and the MS study "is not apples-to-apples."| Apr. 16, 2013, 2:17 PM
Apr. 16, 2013, 12:59 PM