Acorda plans to sell 3.38 million shares
Acorda Therapeutics Inc., a biotechnology company based in Hawthorne, announced today that it plans to sell 3.38 million shares of common stock in a public offering. Final terms of the offering will be disclosed in a future filing with the Securities and Exchange Commission, the company said. Acorda intends to use proceeds from the offering to complete a second Phase 3 trial of Fampridine-SR, a treatment for multiple sclerosis, and other business purposes. Banc of America Securities LLC and Deutsche Bank Securities are managing the offering, Acorda said.