Acorda reports a bigger 2Q loss
Acorda Therapeutics Inc., a Hawthorne-based biotech company, reported a bigger quarterly loss as it awaits regulatory action on a new multiple sclerosis drug that is designed to make walking easier for the disease’s victims.
The net loss of $23.3 million for the second quarter, or 62 cents a share, compared to a net loss of $18.8 million, or 58 cents a share a year earlier.
Acorda is currently seeking U.S. approval for the multiple sclerosis drug, known as Fampridine-SR, from the Food and Drug Administration. Acorda, which has been working on the development of the drug since the mid-1990s, recently reached agreement with another biotech company, Biogen Idec of Cambridge, Mass., to handle the marketing and regulatory approvals for the Fampridine-SR medication in foreign markets.
Acorda already sells Zanaflex, a treatment for involuntary muscle movements caused by multiple sclerosis and spinal injuries. During the second quarter, gross sales of Zanaflex capsules and Zanaflex tablets totaled $14.8 million, up from $13.1 million a year earlier.