Acorda shares jump after positive test results
-
- January
- 28
Shares of Hawthorne-based Acorda Therapeutics Inc. surged more than 25 percent today after the company reported a study showed that a drug it is developing for multiple sclerosis does not have side effects on the heart.
The shares closed at $27.28, up $5.50. The company made its announcement on tests conducted on Fampridine-SR before the stock market opened.
The company said the study indicated patients who took the drug in twice-daily doses of 10 milligrams and 30 milligrams did not experience a change in heart rate any different from those given a placebo.
The company said it plans to complete the next phase of tests on the drug in the second quarter. The company would then need regulatory approval to market the drug.
The drug could help people with multiple sclerosis walk.
This entry was posted
on Monday, January 28th, 2008 at 5:21 pm by Allan Drury.
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Category: Corporate doings
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