Acorda reports $18.8 million loss

August

Acorda Therapeutics Inc., the pharmaceutical company based in Hawthorne, said this morning it lost $18.8 million, or 58 cents a share, during the quarter that ended in June.

During the corresponding quarter in 2007, the company, which markets Zanaflex, a treatment for involuntary muscle movements caused by multiple sclerosis and spinal injuries, lost $8.2 million, or 33 cents a share.

Net sales rose to $11.36 million from $9.48 million.

The company is also seeking to develop Fampridine-SR, a drug to help people with multiple sclerosis walk.

Dr. Ron Cohen, the president and chief executive of the company, said in a statement released by the company. â€œAcorda continued to achieve important milestones in this quarter.â€

This entry was posted on Tuesday, August 5th, 2008 at 8:46 am by Allan Drury.
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