Acorda Therapeutics (ACOR)

Acorda Therapeutics is a biotechnology company whose mission is to develop and market therapies to restore neurological function in people with spinal cord injury (SCI), multiple sclerosis (MS) and related conditions of the nervous system. Core technologies developed by Acorda for SCI and MS have potentially broad applicability for other neurologic conditions. Focusing on these conditions provides insight into chronic and acute CNS conditions. The company has one major product currently approved for sale with Zanaflex and one major candidate the just completed late-stage clinical trials with Fampridine-SR. Zanaflex is a short-acting drug approved for the management of spasticity. Fampridine-SR is being developed to improve walking disability in patients with MS and spinal cord injury. Acorda, located in Hawthorne, NY, employs roughly 150 professionals. The company was founded in 1995 and completed its initial public offering (IPO) in February 2006 with the sale of 5.5 million common shares at $6.00. An over-allotment sale of 0.575 million shares followed in March 2006, along with a private placement of 3.2 million shares in October 2006 and another 4.2 million shares offered to the public and over-allotment in June 2007, and most recently the issuance of 3.8 million shares in February 2008.

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