Acorda Therapeutics reportedly exploring potential sale

Finance


Acorda Therapeutics is exploring a sale of the company, the Wall Street Journal reported, citing people familiar with the matter.

Shares of the company closed up nearly 12 percent at $23.55 on Friday.

The Ardsley, New York-based company, which has a market value of about $980 million, may not move forward with any formal action as the proceedings were at an early stage, the WSJ report said.

Acorda was not immediately available for comment.

The U.S. drugmaker’s investors in August had called for the company to explore a sale, after a judge in March struck down key patents of its MS drug Ampyra, which accounts for most of its revenue.

The company also recently discontinued the development of its Parkinson’s drug after reports of death.

Read the full report in The Wall Street Journal.



Source link

Products You May Like

Articles You May Like

Here’s how to assess your portfolio in a bull market
Bank of America earnings top expectations
Mortgage-processing delays expected with government shutdown
Kohl’s shares could pop 50 percent as Amazon partnership ramps up
High-tax states plan workarounds to the federal SALT deduction

Leave a Reply

Your email address will not be published. Required fields are marked *