This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acorda Therapeutics Reports Third Quarter 2012 Financial Results

Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced its financial results for the third quarter ended September 30, 2012.

“We were pleased with AMPYRA’s performance in the third quarter, with net sales of $69.8 million. This was an approximate 5% increase over the second quarter of 2012 and a 28% increase over the third quarter of 2011,” said Ron Cohen, M.D., Acorda Therapeutics’ President and CEO. “Our top priority is to continue to maximize the AMPYRA franchise, both in its existing indication as well as potential indications in addition to multiple sclerosis. We also have established an exciting pipeline behind AMPYRA, through disciplined investment in both our existing assets and in-licensing of promising neurological agents. We believe that this strategy positions Acorda to deliver significant shareholder value.”


The Company reported GAAP net income of $9.6 million for the quarter ended September 30, 2012, or $0.24 per diluted EPS, including share-based compensation charges totaling $5.6 million. GAAP net income in the same quarter of 2011 was $18.9 million, or $0.47 per diluted EPS, including share-based compensation charges totaling $5.1 million, net milestone revenue of $23.3 million relating to Biogen Idec's receipt of conditional approval from the European Commission for FAMPYRA and accounting adjustments totaling $15.5 million relating to ZANAFLEX CAPSULES due to the patent infringement trial decision.

Non-GAAP net income, before share-based compensation charges, for the quarter ended September 30, 2012 was $15.2 million, or $0.38 per diluted EPS. Non-GAAP net income in the same quarter of 2011, before share-based compensation charges, net milestone revenue and accounting adjustments relating to ZANAFLEX CAPSULES due to the Apotex patent infringement trial court decision, was $16.2 million or $0.40 per diluted EPS.

AMPYRA ® (dalfampridine) Extended Release Tablets, 10 mg net revenue - For the quarter ended September 30, 2012, the Company reported AMPYRA net revenue of $69.8 million, compared to $54.7 million in net revenue for the same quarter in 2011. AMPYRA revenue is recognized following shipment of the product from the Company’s distribution facility to its network of specialty pharmacies.

The Company is reiterating 2012 AMPYRA net sales guidance of $255-$275 million.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs