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Business in the Burbs

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Acorda reports a bigger 2Q loss

August
4

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.

This entry was posted on Tuesday, August 4th, 2009 at 1:52 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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