This Day On The Street
Continue to site
ADVERTISEMENT
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 Fourth Quarter And Full Year 2012 Financial Results

Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced its financial results for the fourth quarter and full year ended December 31, 2012.

“We are pleased with the performance of AMPYRA in 2012, and excited about the franchise’s potential to expand in future years. AMPYRA sales grew approximately 26% in 2012 over 2011, and we expect sales to continue to increase in 2013. In addition, results from our life cycle management programs in post-stroke deficits and cerebral palsy are projected to read out in the second quarter of 2013,” said Ron Cohen, M.D., Acorda Therapeutics’ President and CEO.

“We believe we have one of the most interesting neurology pipelines in the industry. Pending additional clinical and manufacturing data, we plan to submit a New Drug Application to the FDA for Diazepam Nasal Spray in 2013. We also anticipate having three additional clinical stage programs by mid-year. The continued growth of AMPYRA, coupled with near-term pipeline milestones, has created the potential for meaningful growth in shareholder value.”

FINANCIAL RESULTS

The Company reported GAAP net income of $133.0 million for the quarter ended December 31, 2012, or $3.27 per diluted EPS, including share-based compensation charges totaling $6.1 million and a $132.7 million non-recurring tax benefit. For the full year 2012, the Company reported GAAP net income of $155.0 million, or $3.84 per diluted EPS, including share-based compensation charges totaling $21.4 million and a $132.7 million non-recurring tax benefit. GAAP net income in the same quarter of 2011 was $12.7 million, or $0.32 per diluted EPS, including share-based compensation charges totaling $5.5 million, and $30.6 million, or $0.76 per diluted EPS, including share-based compensation charges totaling $19.3 million for the full year 2011.

Non-GAAP net income, excluding the non-recurring tax benefit, share-based compensation charges and payments in connection with the acquisition of Neuronex, Inc., for the quarter ended December 31, 2012 was $9.8 million, or $0.24 per diluted EPS, and $50.3 million, or $1.25 per diluted EPS for the full year 2012. Non-GAAP net income in the same quarter of 2011 was $18.2 million or $0.45 per diluted EPS. Non-GAAP net income for full year 2011, before share-based compensation charges and other adjustments, was $45.1 million or $1.13 per diluted EPS.

1 of 9

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs