Acorda Therapeutics (ACOR) Up 50% On Trial News
October 15, 2009 · Filed Under fda, multiple sclerosis
Acorda Therapeutics (NASDAQ:ACOR) is up 50% to $25.20 on news that the U.S. Food and Drug Administration (FDA) Peripheral and Central Nervous System Drugs (PCNSD) Advisory Committee voted 12 to 1 that clinical data on Fampridine-SR 10 mg twice daily demonstrated substantial evidence of effectiveness as a treatment to improve walking in people with multiple sclerosis (MS) and voted 10 to 2 (1 abstention) that it is clinically meaningful and can be safe for use.
The news is promising but ACOR now has a market cap of $960 million. The company had revenue of $12.5 million and a loss of $23.3 million last quarter. Maybe the revenue from Fampridine-SR will start to kick in soon.
Douglas A. McIntyre
