Annuncio • Aug 14
First Motion for Exclusivity Period Extension Approved For Acorda Therapeutics, Inc. The US Bankruptcy Court granted an order for the extension of the exclusivity periods for Acorda Therapeutics, Inc. on August 13, 2024. As per the order, the debtor’s exclusivity period to file its plan and to solicit votes on its plan, have been extended by 60 days i.e. up to September 30, 2024, and November 29, 2024, respectively. Annuncio • Aug 13
Acorda Therapeutics Files Form 15 Acorda Therapeutics, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.001 per share. Annuncio • Jul 12
Merz Pharmaceuticals, LLC completed the acquisition of Substantially all of the assets of Acorda Therapeutics, Inc. for approximately $190 million. Merz Pharmaceuticals, LLC entered into an asset purchase agreement to acquire Substantially all of the assets of Acorda Therapeutics, Inc. for approximately $190 million on March 31, 2024. The acquisition is subjected to the approval by regulatory board, court approval and antitrust regulations. Baker & McKenzie LLP acted as a legal advisor to Acorda Therapeutics. Ernst & Young LLP, Investment Banking Arm acted as a financial advisor to Acorda Therapeutics. Scott Talmadge, Adam Golden, Sarah Ghulamhussain, Christopher Stothers, Jenny Leahy, Meghan Rissmiller, Aimen Mir, Stephanie Brown Cripps, Christine Lyon, Joe Soltis, Brock DahlGian Luca Zampa and Sanjay Murti of Freshfields Bruckhaus Deringer US LLP acted as a legal advisor to Merz Pharmaceuticals. Deloitte has acted as financial and tax advisors. Morgan Stanley acts as investment banker to Acorda Therapeutics. Perella Weinberg Partners acts as a investment banker to Merz Pharmaceuticals. Ducera Partners LLC acted as investment banker to Acorda Therapeutics. Leerink Partners LLC acted as a investment banker to Acorda Therapeutics. As on June 12, 2024 the transaction has been approved by the court.
Merz Pharmaceuticals, LLC completed the acquisition of Substantially all of the assets of Acorda Therapeutics, Inc. on July 10, 2024. Annuncio • Jul 04
Solicitation Version of First amended Disclosure Statement Approved for Acorda Therapeutics, Inc. The US Bankruptcy Court approved the solicitation version of the first amended disclosure statement of Acorda Therapeutics, Inc. on July 3, 2024. The debtor had filed its solicitation version of amended disclosure statement in the Court on July 2, 2024. June 28, 2024 has been fixed as voting record date. The deadline to vote on the plan and the plan objection deadline is July 31, 2024. The confirmation hearing for the plan has been scheduled for August 7, 2024. Annuncio • Apr 27
Nasdaq Files Form 25 with the U.S. Securities and Exchange Commission to Delist Acorda Therapeutics's Common Stock from Nasdaq, Effective on May 5, 2024 As previously disclosed, on April 3, 2024, Acorda Therapeutics, Inc. (the ‘Company’) was notified by the Listing Qualifications Department of the Nasdaq Stock Market, LLC (‘Nasdaq’) that Nasdaq had determined to commence proceedings to delist the Company’s common stock, $0.001 par value per share (the ‘Common Stock’) from Nasdaq. The Company did not appeal the determination and, therefore, the Company’s Common Stock ceased trading on the Nasdaq on April 12, 2024 and began trading on the Pink Open Market under the symbol ‘ACORQ.’ On April 25, 2024, Nasdaq filed a Form 25 with the U.S. Securities and Exchange Commission to delist the Common Stock from Nasdaq. The delisting of the Common Stock from Nasdaq will become effective on May 5, 2024 and the Common Stock will be deregistered under Section 12(b) of the Exchange Act 90 days after the Form 25 filing, after which the company’s common stock will remain registered under Section 12(g) of the Exchange Act. Annuncio • Apr 17
Acorda Therapeutics Announces Delisting from Nasdaq Acorda Therapeutics, Inc. announced that its common stock is no longer listed on the Nasdaq Stock Market. The delisting is a result of the company’s failure to demonstrate compliance with Nasdaq Listing Rules 5101, 5110(b), and IM-5101-1 as a result of the company’s commencement of Chapter 11 proceedings and Nasdaq Listing Rule 5450(b)(1)(A) for failure to maintain stockholders’ equity of at least $10 million. Trading in the company’s common stock on the Nasdaq exchange was suspended on April 12, 2024. The Company’s common stock is quoted on the OTC Pink Open Market platform operated by OTC Markets Group Inc. since April 12, 2024 under the ‘ACORQ’ ticker symbol. Annuncio • Apr 12
Acorda Therapeutics, Inc.(OTCPK:ACOR.Q) dropped from NASDAQ Composite Index Acorda Therapeutics, Inc removed Annuncio • Apr 03
Merz Pharmaceuticals, LLC entered into an asset purchase agreement to acquire Substantially all of the Companys assets of Acorda Therapeutics, Inc. for approximately $190 million. Merz Pharmaceuticals, LLC entered into an asset purchase agreement to acquire Substantially all of the Companys assets of Acorda Therapeutics, Inc. for approximately $190 million on March 31, 2024. Baker & McKenzie LLP acted as a legal advisor to Acorda Therapeutics. Ernst & Young LLP, Investment Banking Arm acted as a financial advisor to Acorda Therapeutics. Freshfields Bruckhaus Deringer US LLP acted as a legal advisor to Merz Pharmaceuticals. Deloitte has acted as financial and tax advisors. Morgan Stanley acts as investment banker to Acorda Therapeutics. Perella Weinberg Partners acts as a investment banker to Merz Pharmaceuticals. Ducera Partners LLC acted as investment banker to Acorda Therapeutics. Leerink Partners LLC acted as a investment banker to Acorda Therapeutics. Annuncio • Mar 26
Acorda Therapeutics, Inc. to Report Q4, 2023 Results on Apr 01, 2024 Acorda Therapeutics, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Apr 01, 2024 Annuncio • Nov 15
Acorda Therapeutics, Inc. Provides Revenue Guidance for the Full Year 2023 Acorda Therapeutics, Inc. provides revenue guidance for the full year 2023. For the full year 2023, the Company reaffirms INBRIJA U.S. net revenue guidance to be $34-$38 million and AMPYRA net revenue guidance to be $65-$70 million. Annuncio • Nov 07
Acorda Therapeutics Announces Biopas Laboratories Submission to Regulatory Agencies in Six Latin American Countries for Approval of INBRIJA Acorda Therapeutics, Inc. announced the submission of new regulatory filings for the approval of INBRIJA® (levodopa inhalation powder) in six countries in Latin America by its partner Biopas Laboratories (Biopas). INBRIJA is indicated in the United States for the intermittent treatment of OFF episodes in adult patients with Parkinson's disease (PD) treated with carbidopa/levodopa. Biopas has submitted for marketing approval of INBRIJA in Argentina, Colombia, Costa Rica, Ecuador, Panama and Peru. It expects to submit additional regulatory filings for approval of INBRIJA in Chile in late 2023 and in Mexico and Brazil in 2024. Annuncio • Aug 11
Acorda Therapeutics, Inc. Reaffirms Revenue Guidance for the Full Year 2023 Acorda Therapeutics, Inc. reaffirmed revenue guidance for the full year 2023. For the period, the company reaffirms net revenue to be $65 million to $70 million. Annuncio • Jun 27
Acorda Therapeutics Regains Compliance with Nasdaq Minimum Bid Price Requirement Acorda Therapeutics, Inc. announced that it has received notification from the Nasdaq Stock Market informing the Company that as of June 20, 2023 it has regained compliance with the minimum bid price requirement set in Nasdaq Listing Rule 5450(a)(1). Acorda is now in compliance with all applicable listing standards and will continue to be listed and traded on the Nasdaq Global Select Market. Annuncio • Jun 06
Acorda Therapeutics Announces Completion of Reverse Stock Split to Enable the Company to Regain Compliance with the Minimum Closing Price Required to Maintain Continued Listing on the Nasdaq Global Select Market Acorda Therapeutics, Inc. announced that it has completed the previously announced 1-for-20 reverse stock split of its outstanding and authorized shares of common stock. The reverse stock split became effective at 4:01 p.m. Eastern Time June 5, 2023, and the Company's common stock will begin trading on a split-adjusted basis at the market open on June 5, 2023. The reverse stock split was effected to enable the Company to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on The Nasdaq Global Select Market. On November 11, 2022, the Company's stockholders authorized the board of directors to effect a reverse stock split by a ratio of any whole number in the range of 1-for-2 to 1-for-20 and a corresponding reduction in the number of authorized shares of common stock. The board of directors subsequently approved the reverse stock split and authorized the filing of the Company's amended and restated certificate of incorporation, as previously announced on May 31, 2023. Annuncio • Jun 02
Acorda Therapeutics to Conduct 1-for-20 Reverse Stock Split to Regain Compliance with the Minimum Closing Price Required to Maintain Continued Listing Acorda Therapeutics, Inc. announced that it will conduct a reverse stock split of its outstanding and authorized shares of common stock at a ratio of 1-for-20. The reverse stock split will become effective at 4:01 p.m. Eastern Time, on June 2, 2023. The company’s common stock will begin trading on a post-split basis at the market open on June 5, 2023. The reverse stock split is being effected to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on The Nasdaq Global Select Market. The reverse stock split will apply equally to all outstanding shares of the common stock, and each stockholder will hold the same percentage of common stock outstanding immediately following the reverse stock split as that stockholder held immediately prior to the reverse stock split, except for adjustments that may result from the treatment of fractional shares. The Company will not issue any fractional shares in connection with the reverse stock split, and the number of shares issued will be rounded up to the next whole share. The reverse stock split will not modify the rights or preferences of the common stock. As a result of the proportionate reduction in the number of authorized shares of common stock, the reverse stock split will result in the number of authorized shares of common stock being reduced from 61,666,666 to 3,083,333. As previously reported in the company’s Current Report on Form 8-K filed on November 14, 2022, on November 11, 2022, the company’s stockholders approved a proposal to authorize the company’s board of directors to approve an amendment and restatement of the company’s certificate of incorporation to effect a reverse stock split of the company’s common stock by a ratio of any whole number in the range of 1-for-2 to 1-for-20, and a corresponding reduction in the number of authorized shares of the company’s common stock, within one year following the conclusion of the Special Meeting of Stockholders on November 11, 2022. Reported Earnings • May 15
First quarter 2023 earnings released: US$0.69 loss per share (vs US$1.85 loss in 1Q 2022) First quarter 2023 results: US$0.69 loss per share (improved from US$1.85 loss in 1Q 2022). Revenue: US$22.3m (down 1.2% from 1Q 2022). Net loss: US$16.8m (loss narrowed 31% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Annuncio • May 12
Acorda Therapeutics, Inc. Reaffirms Earnings Guidance for the Year 2023 Acorda Therapeutics, Inc. reaffirmed earnings guidance for the year 2023. For the full year 2023, the company continues to target INBRIJA U.S. net revenue to be $38 million - $42 million and AMPYRA net revenue to be $65 million - $70 million. Reported Earnings • Mar 11
Full year 2022 earnings released: US$3.35 loss per share (vs US$9.79 loss in FY 2021) Full year 2022 results: US$3.35 loss per share (improved from US$9.79 loss in FY 2021). Revenue: US$118.6m (down 8.1% from FY 2021). Net loss: US$65.9m (loss narrowed 37% from FY 2021). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Annuncio • Feb 16
Acorda Therapeutics Receives Nasdaq Extension to Meet Minimum Bid Price Requirement Acorda Therapeutics, Inc. announced that the Nasdaq Hearings Panel has granted the Company's extension request until June 20, 2023 to regain compliance with the Nasdaq's minimum $1 bid price per share requirement. "We are pleased Nasdaq has granted us this extension," said Ron Cohen, M.D., Acorda's President and Chief Executive Officer. "We have announced a detailed business plan and long-term financial guidance to demonstrate what we believe is a path to growing shareholder value in Acorda. The key components of that plan are continued fiscal discipline, growing the Inbrija trajectory, and maintaining the Ampyra brand. We believe that it is in the best interests of our shareholders that we achieve compliance with the bid price rule organically by executing on that plan." If at any time before June 20, 2023 the bid price of Acorda's stock closes at or above $1 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules. In the event that the Company cannot regain compliance organically during the extension period, the Company has committed to effecting a reverse stock split, which was authorized by shareholders in November 2022. Annuncio • Dec 22
Acorda Therapeutics Receives Nasdaq Listing Determination Letter and Plans to Request A Hearing Acorda Therapeutics, Inc. announced that it was notified by the Listing Qualifications Staff of The Nasdaq Stock Market LLC that, due to the Company's common stock not having regained compliance with the minimum price of $1.00, the stock is subject to delisting unless the Company timely requests a hearing before the Nasdaq Hearings Panel. The Company plans to submit such request within the required seven calendar days, which will stay any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Hearings Panel following the hearing. The Hearings Panel has the discretion to grant the Company an extension through June 17, 2023. At the hearing, the Company intends to present a plan to achieve compliance with the Nasdaq listing requirements and to request additional time to regain such compliance. In the event that the Company receives an extension but cannot regain compliance within the extended time, the Company would effect a reverse stock split under authorization from stockholders received in November 2022. There can be no assurance that the Panel will grant the Company an extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Global Select Market. “We believe it is in the best interests of shareholders to allow the stock price to grow organically rather than effecting a reverse stock split, and will discuss this and our long-term plan with the Hearings Panel,” said Ron Cohen, M.D., Acorda’s President and Chief Executive Officer. Reported Earnings • Nov 18
Third quarter 2022 earnings released: US$0.57 loss per share (vs US$2.43 loss in 3Q 2021) Third quarter 2022 results: US$0.57 loss per share (improved from US$2.43 loss in 3Q 2021). Revenue: US$33.5m (up 6.5% from 3Q 2021). Net loss: US$13.9m (loss narrowed 49% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. Independent Non-Executive Chairman John Kelley was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 03
Third quarter 2022 earnings released: US$0.57 loss per share (vs US$2.43 loss in 3Q 2021) Third quarter 2022 results: US$0.57 loss per share (improved from US$2.43 loss in 3Q 2021). Revenue: US$33.5m (up 6.5% from 3Q 2021). Net loss: US$13.9m (loss narrowed 49% from 3Q 2021). Annuncio • Oct 28
Acorda Therapeutics, Inc. Provides Earnings Guidance for the Years of 2022, 2023, 2024, 2025, 2026 and 2027 Acorda Therapeutics, Inc. Provided earnings guidance for the years of 2022, 2023, 2024, 2025, 2026 and 2027. For the year of 2022, the company expected net revenue to be USD 116.0 million to USD 119.7 million.For the year of 2023, the company expected net revenue to be USD 121.3 million to USD 134.3 million.For the year of 2024, the company expected net revenue to be USD 134.1 million to USD 148.1 million.For the year of 2025, the company expected net revenue to be USD 151.0 million to USD 166.8 million.For the year of 2026, the company expected net revenue to be USD 163.9 million to USD 181.2 million.For the year of 2027, the company expected net revenue to be USD 180.4 million to USD 199.3 million. Annuncio • Oct 26
Acorda Therapeutics, Inc. to Report Q3, 2022 Results on Nov 01, 2022 Acorda Therapeutics, Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 01, 2022 Annuncio • Aug 20
Acorda Therapeutics Announces Resignation of Lauren Sabella as Chief Operating Officer Acorda Therapeutics, Inc. announced that Lauren Sabella, Chief Operating Officer, will resign from the Company effective September 30, 2022. Ms. Sabella will be working in a strategic advisory role for early-stage biotechnology companies. Ms. Sabella’s responsibilities will be assumed by two of her current direct reports, Sofia Ali, Senior Vice President, Operations & Strategic Planning and Susan Way, Senior Vice President, Drug Development and Regulatory Affairs. Reported Earnings • Aug 06
Second quarter 2022 earnings released: US$2.78 loss per share (vs US$2.29 loss in 2Q 2021) Second quarter 2022 results: US$2.78 loss per share (down from US$2.29 loss in 2Q 2021). Revenue: US$31.1m (down 2.3% from 2Q 2021). Net loss: US$46.7m (loss widened 104% from 2Q 2021). Annuncio • Aug 06
Acorda Therapeutics, Inc. Provides Revenue Guidance for the Full Year 2022 Acorda Therapeutics, Inc. provided revenue guidance for the full year 2022. For the full year 2022, Acorda continues to expect AMPYRA net revenue to be $68– $78 million. Annuncio • Jun 25
Acorda Therapeutics Receives Deficiency Letter Listing Qualifications Department of Nasdaq Stock Market On June 22, 2022, Acorda Therapeutics, Inc. (the Company") received a deficiency letter (the Notice") from the Listing Qualifications Department (the Staff") of the Nasdaq Stock Market, LLC (Nasdaq") notifying the Company that, for the last 30 consecutive business days, the bid price for the Company's common stock had closed below $1.00 per share, which is the minimum closing price required to maintain continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1) (the Minimum Bid Requirement"). The Notice has no immediate effect on the listing of the Company's common stock. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days to regain compliance with the Minimum Bid Requirement. To regain compliance with the Minimum Bid Requirement, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days during this 180-day period, unless the Staff exercises its discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). The compliance period for the Company will expire on December 19, 2022. Annuncio • May 17
Acorda Therapeutics, Inc. Provides Revenue Guidance for the Year 2022 For the full year 2022, Acorda Therapeutics, Inc. continues to expect AMPYRA net revenue to be $68 million– $78 million. Reported Earnings • May 13
First quarter 2022 earnings released: US$1.93 loss per share (vs US$3.53 loss in 1Q 2021) First quarter 2022 results: US$1.93 loss per share (up from US$3.53 loss in 1Q 2021). Revenue: US$22.5m (down 22% from 1Q 2021). Net loss: US$25.6m (loss narrowed 24% from 1Q 2021). Board Change • May 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. Independent Non-Executive Chairman John Kelley was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$9.95 loss per share (up from US$12.32 loss in FY 2020). Revenue: US$129.1m (down 16% from FY 2020). Net loss: US$104.0m (loss widened 4.4% from FY 2020). Revenue exceeded analyst estimates by 2.9%. Annuncio • Mar 07
Acorda Therapeutics, Inc. Announces Board Changes Acorda Therapeutics, Inc. announced on March 3, 2022, John Varian, one of the independent members of the company's Board of Directors, was appointed by the Board to serve on the Board's Audit Committee effective immediately. Mr. Varian was appointed to the Audit Committee to replace John Kelley, the Chair of the Board, who rotated off of the Committee upon Mr. Varian's appointment. Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. Independent Non-Executive Chairman John Kelley was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2021 earnings released: US$2.43 loss per share (vs US$0.92 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$31.5m (down 41% from 3Q 2020). Net loss: US$27.1m (down 468% from profit in 3Q 2020). Executive Departure • Aug 26
Independent Director Barry Greene has left the company On the 20th of August, Barry Greene's tenure as Independent Director ended after 14.6 years in the role. As of June 2021, Barry still personally held only 213.00 shares (€856 worth at the time). A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 6.58 years. Executive Departure • Aug 26
Independent Director Catherine D. Strader has left the company On the 22nd of August, Catherine D. Strader's tenure as Independent Director ended after 4.5 years in the role. We don't have any record of a personal shareholding under Catherine D.'s name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 6.58 years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: US$2.29 loss per share (vs US$2.19 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$31.8m (down 5.5% from 2Q 2020). Net loss: US$22.9m (loss widened 31% from 2Q 2020). Reported Earnings • May 08
First quarter 2021 earnings released: US$3.53 loss per share (vs US$0.81 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$28.9m (up 2.7% from 1Q 2020). Net loss: US$33.5m (loss widened 417% from 1Q 2020). Annuncio • May 07
Acorda Therapeutics, Inc. Provides Financial Guidance for the Full Year of 2021 Acorda Therapeutics, Inc. provided financial guidance for the full year of 2021. For the full-year 2021, the company continues to expect AMPYRA net revenue to be $75 million to $85 million. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations Revenue exceeded analyst estimates by 2.8%. Over the next year, revenue is expected to shrink by 58% compared to a 62% growth forecast for the Biotechs industry in Germany. Reported Earnings • Mar 05
Full year 2020 earnings released: US$12.32 loss per share (vs US$34.47 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$153.0m (down 21% from FY 2019). Net loss: US$99.6m (loss narrowed 64% from FY 2019). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 65% per year, which means it is significantly lagging earnings. Annuncio • Feb 20
Acorda Therapeutics Announces Executive Changes Acorda Therapeutics, Inc. announced that David Lawrence, Chief, Business Operations and its principal accounting and financial officer, is resigning from the Company effective mid-March, 2021. Mr. Lawrence will take a leadership position at an early-stage biotechnology company. Robert Morales, Acorda’s Vice President of Finance and Controller, will assume the roles of interim principal accounting officer and interim principal financial officer. Annuncio • Feb 13
Catalent Pharma Solutions, Inc. completed the acquisition of INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR). Catalent Pharma Solutions, Inc. entered into an asset purchase agreement to acquire INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) for $80 million on January 12, 2021. The consideration is subject to certain adjustments and the assumption and is paid in cash. In connection with the transaction, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda. The Asset Purchase Agreement includes customary termination provisions in favor of the Acorda, on the one hand, and Catalent, on the other hand, including if the closing of the transaction has not occurred on or before May 12, 2021. As part of the transaction, Catalent will absorb all Acorda employees who work at the Chelsea facility and certain Acorda employees at the Waltham, Massachusetts facility.
Completion of the transaction is subject to customary closing conditions, including, among others, the receipt of certain third party consents and approvals. The transaction is expected to close in the first quarter of 2021. The Acorda intends to use the net proceeds of $70 million received from the transaction for general corporate purposes, which may include funding capital expenditures and the repayment of indebtedness. MTS Health Partners, L.P. is serving as exclusive financial advisor to Acorda Therapeutics on the transaction.
Catalent Pharma Solutions, Inc. completed the acquisition of INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) on February 11, 2021. Annuncio • Feb 12
Acorda Therapeutics Announces Completion of Sale of Manufacturing Operations to Catalent Acorda Therapeutics, Inc. announced that it has completed the sale of its manufacturing operations in Chelsea, Massachusetts to Catalent. Under the terms of the agreement, Catalent has paid Acorda $80 million in cash, resulting in expected net proceeds to Acorda of approximately $74 million after transaction fees and expenses and settlement of customary post-closing adjustments. In connection with the sale, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda, ensuring an uninterrupted drug supply for Acorda’s patients and continued adherence to best-in-class manufacturing quality and safety standards. Annuncio • Jan 28
Acorda Therapeutics, Inc.(NasdaqGS:ACOR) dropped from Russell 2000 Dynamic Index Acorda Therapeutics, Inc.(NasdaqGS:ACOR) dropped from Russell 2000 Dynamic Index Annuncio • Jan 14
Catalent Pharma Solutions, Inc. entered into an asset purchase agreement to acquire INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) for $80 million. Catalent Pharma Solutions, Inc. entered into an asset purchase agreement to acquire INBRIJA Manufacturing Operations in Chelsea, Massachusetts from Acorda Therapeutics, Inc. (NasdaqGS:ACOR) for $80 million on January 12, 2021. The consideration is subject to certain adjustments and the assumption and is paid in cash. In connection with the transaction, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda. The Asset Purchase Agreement includes customary termination provisions in favor of the Acorda, on the one hand, and Catalent, on the other hand, including if the closing of the transaction has not occurred on or before May 12, 2021. As part of the transaction, Catalent will absorb all Acorda employees who work at the Chelsea facility and certain Acorda employees at the Waltham, Massachusetts facility.
Completion of the transaction is subject to customary closing conditions, including, among others, the receipt of certain third party consents and approvals. The transaction is expected to close in the first quarter of 2021. The Acorda intends to use the net proceeds of $70 million received from the transaction for general corporate purposes, which may include funding capital expenditures and the repayment of indebtedness. MTS Health Partners, L.P. is serving as exclusive financial advisor to Acorda Therapeutics on the transaction. Is New 90 Day High Low • Jan 14
New 90-day high: €5.42 The company is up 58% from its price of €3.42 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 4.0% over the same period. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS US$0.15 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$53.1m (up 11% from 3Q 2019). Net income: US$7.35m (up US$270.9m from 3Q 2019). Profit margin: 14% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 67% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue beats expectations Revenue exceeded analyst estimates by 79%. Over the next year, revenue is expected to shrink by 40% compared to a 305% growth forecast for the Biotechs industry in Germany. Is New 90 Day High Low • Nov 04
New 90-day high: €0.89 The company is up 55% from its price of €0.57 on 05 August 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Annuncio • Oct 28
Acorda Therapeutics, Inc. to Report Q3, 2020 Results on Nov 03, 2020 Acorda Therapeutics, Inc. announced that they will report Q3, 2020 results at 4:30 PM, Eastern Standard Time on Nov 03, 2020 Annuncio • Oct 06
Steven M. Rauscher to Resign as Member of Board of Directors of Acorda Therapeutics, Inc On September 30, 2020, Steven M. Rauscher notified Acorda Therapeutics, Inc. (the Company) of his decision to resign as a member of the Board of Directors of the Company, effective immediately. At the time of Mr. Rauscher's resignation, he was an independent director and member of the Audit Committee and Chair of the Compliance Committee. Mr. Rauscher indicated that his decision to resign was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Annuncio • Sep 21
Acorda Therapeutics, Inc.(NasdaqGS:ACOR) dropped from S&P Global BMI Index Acorda Therapeutics, Inc.(NasdaqGS:ACOR) dropped from S&P Global BMI Index 