Saturday, 16 January 2021, 02:19:58
It's been a stellar week for Acorda Therapeutics (ACOR) investors. The stock skyrocketed over 60% after the company announced it is selling its manufacturing operations for Inbrija – Acorda’s FDA approved treatment of OFF episodes in Parkinson's disease – which should also reduce its headcount by 16%. The company’s 90,000 square-foot, FDA-inspected CGMP facility in Chelsea, Massachusetts, is being sold off to Catalent, along with the facility’s employees. The net proceeds from the deal will pocket the company approximately $70 million in cash and will reduce its annual operation costs by $40 million. Along with a recent at-the-market offering, the sale provides enough cash for the coffers to swing the cash balance back into the green, says Cowen analyst Phil Nadeau. The analyst believes this resolves a major investor concern. “The key risk facing ACOR investors is the ability of the company to sufficiently fund operations in order to successfully launch Inbrija and achieve cash flow breakeven without meaningful dilution,” the 5-star analyst said. “The sale of ACOR's manufacturing operations, restructuring, and disclosure of strong Q4 Inbrija sales meaningfully increase the likelihood that Acorda's balance sheet is sufficiently strong to support operations back to profitability, in our opinion.” In addition to the restructuring, Acorda also offered a glimpse of Q4 financial results.
— Yahoo Finance
After the latest announcements 44.34% shot up in the stock market
Thursday, 14 January 2021, 12:27:57
Yesterday, Acorda Therapeutics made several announcements which triggered the stock price to rise a week after its stock split.
— Admiral Markets
The Daily Biotech Pulse: Bausch Health Issues Positive Pre-Announcement, Acorda Streamlines Operations
Wednesday, 13 January 2021, 13:25:38
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Jan. 12) AbbVie Inc (NYSE: ABBV ) AcelRx Pharmaceuticals Inc (NASDAQ: ACRX ) Aldeyra Therapeutics Inc (NASDAQ: ALDX ) Alkermes Plc (NASDAQ: ALKS ) AtriCure Inc. (NASDAQ: ATRC ) Bioanalytical Systems, Inc. (NASDAQ: BASI ) BIOLASE Inc (NASDAQ: BIOL ) (announced an agreement to expand laser adoption and hands-on training programs in targeted geographies) CareDx Inc (NASDAQ: CDNA ) Celsius Holdings, Inc. (NASDAQ: CELH ) DermTech Inc (NASDAQ: DMTK ) Dyne Therapeutics Inc (NASDAQ: DYN ) Edap Tms SA (NASDAQ: EDAP ) Evelo Biosciences Inc (NASDAQ: EVLO ) EXACT Sciences Corporation (NASDAQ: EXAS ) Eyenovia Inc (NASDAQ: EYEN ) Genetron Holdings Ltd – ADR (NASDAQ: GTH ) Guardant Health Inc (NASDAQ: GH ) (reacted to presentation at the JPMorgan Healthcare Conference) Intra-Cellular Therapies Inc (NASDAQ: ITCI ) Kaleido Biosciences Inc (NASDAQ: KLDO ) Laboratory Corp.
Acorda Therapeutics Announces Agreement for Sale of Manufacturing Operations and Long-Term Global Supply Agreement for INBRIJA®, Corporate Restructuring, and Enters into “At The Market” Offering Agreement
Wednesday, 13 January 2021, 13:00:00
ARDSLEY, N.Y.–(BUSINESS WIRE)–Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that it has entered into a definitive agreement to sell its INBRIJA manufacturing operations in Chelsea, Massachusetts to Catalent for $80 million in cash. In connection with the sale, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda, ensuring an uninterrupted drug supply for Acorda’s patients and continued adheren
— Business Wire
Global Longevity and Anti-Senescence Therapy Market 2021 | Acorda Therapeutics, Agex Therapeutics, Antoxerene, Calico Life Sciences, Celgene, Cleara Biotech, Human Longevity Inc., Insilico Medicine, Oisin Biotechnology, Powervision Inc., and Many more.
Wednesday, 13 January 2021, 08:23:18
InsightAce Analytic Pvt. Ltd. features the release of market research report on “Global Longevity and Anti-Senescence Therapy Market Assessment – Industry Analysis, Competitive Analysis, COVID 19 Impact Analysis, and Revenue Forecast Till 2028” According to the latest research by InsightAce
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