Acorda Therapeutics, Inc. (NASDAQ:ACOR) Files An 8-K Results of Operations and Financial Condition
Item 2.02Results of Operations and Financial Condition
On January 9, 2017, Acorda Therapeutics, Inc. (the Company)
issued a press release announcing certain financial information
for the fourth quarter of 2016 as well as for the 2016 full year,
including that Ampyra (dalfampridine) Extended Release Tablets,
10 mg net sales for the fourth quarter of 2016 were $132 million,
and that Ampyra full year net sales for 2016 were $493 million.
Final results are subject to completion of the Companys year-end
audit. The Company provided 2017 guidance for Ampyra net sales of
$535-$545 million, research and development (RD) expense of
$185-$195 million, and sales, general and administrative (SGA)
expense of $195-$205 million.RD and SGA expense guidance are
non-GAAP projections which exclude share-based compensation, as
more fully described below.
The Company also announced that it is providing a corporate
overview today at the 35th Annual J.P. Morgan Healthcare
Conference.
A copy of the press release is attached as Exhibit 99.1 to this
Current Report on Form 8-K, and incorporated by reference into
this Item.
This report and Exhibit 99.1 include certain forward-looking
financial measures that were not prepared in accordance with
accounting principles generally accepted in the United States
(GAAP).In particular, the Company has provided 2017 guidance for
RD and SGA expense on a non-GAAP basis. Due to the forward
looking nature of this information, the amount of compensation
charges and benefits needed to reconcile these measures to the
most directly comparable GAAP financial measures is dependent on
future changes in the market price of our common stock and is not
available at this time.Non-GAAP financial measures are not an
alternative for financial measures prepared in accordance with
GAAP.However, the Company believes the presentation of these
non-GAAP financial measures, when viewed in conjunction with our
GAAP results, provide investors with a more meaningful
understanding of our ongoing and projected operating
performance.The Company believes these non-GAAP financial
measures help indicate underlying trends in the Company’s
business and are important in understanding projected operating
performance.
Item 8.01Other Events
The information set forth in Item 2.02 above is incorporated by
reference into this Item.
Item 9.01Financial Statements and Exhibits
(d) Exhibits
|
Exhibit No. |
Description |
|
99.1 |
Press Release dated January 9, 2017 |
About Acorda Therapeutics, Inc. (NASDAQ:ACOR)
Acorda Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza. Its research and development programs include CVT-301, Dalfampridine, Plumiaz, Neuregulin Program, Remyelinating Antibodies Program, CVT-427 and Chondroitinase Program. Its Ampyra is an oral drug for the treatment to improve walking in patients with multiple sclerosis. Zanaflex Capsules and tablets are used as short-acting drugs for the management of spasticity. Qutenza is a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia. Its pipeline of neurological therapies addresses a range of disorders, including Parkinson’s disease, chronic post-stroke walking deficits and migraine. Acorda Therapeutics, Inc. (NASDAQ:ACOR) Recent Trading Information
Acorda Therapeutics, Inc. (NASDAQ:ACOR) closed its last trading session up +0.40 at 21.15 with 551,185 shares trading hands.
