Acorda sales grow, loss widens
-
- May
- 5
Acorda Therapeutics Inc., the pharmaceutical company in Hawthorne, reported this morning that it lost $16.43 million, or 54 cents a share, during the first quarter, compared with a loss of $7.5 million, or 32 cents, a year earlier.
Net sales of the company’s product, Zanaflex, grew to $11.49 million from $8.31 million.
Zanaflex is a treatment for involuntary muscle movements caused by multiple sclerosis and spinal injuries. The company is also seeking to develop Fampridine-SR, which would also be for people with multiple sclerosis.
Research and development expenses rose to $9.59 million from $3.24 million. Sales and marketing expenses rose to $10.2 million from $6.97 million.
Acorda shares were trading at $21.79 this morning, up 3 cents.
This entry was posted
on Monday, May 5th, 2008 at 9:41 am by Allan Drury.
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