Acorda Therapeutics , Inc. (Nasdaq: NASDAQ:) at present introduced that the Nasdaq Hearings Panel has granted the Firm’s extension request till June 20, 2023 to regain compliance with the Nasdaq’s minimal $1 bid worth per share requirement.
“We’re happy Nasdaq has granted us this extension,” mentioned Ron Cohen, M.D., Acorda’s President and Chief Government Officer. “We’ve got introduced an in depth marketing strategy and long-term monetary steerage to display what we consider is a path to rising shareholder worth in Acorda. The important thing parts of that plan are continued fiscal self-discipline, rising the Inbrija trajectory, and sustaining the Ampyra model. We consider that it’s in the most effective pursuits of our shareholders that we obtain compliance with the bid worth rule organically by executing on that plan.”
If at any time earlier than June 20, 2023 the bid worth of Acorda’s inventory closes at or above $1 per share for at least 10 consecutive buying and selling days, the Firm will regain compliance with the Nasdaq Itemizing Guidelines. Within the occasion that the Firm can’t regain compliance organically throughout the extension interval, the Firm has dedicated to effecting a reverse inventory break up, which was approved by shareholders in November 2022.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to revive perform and enhance the lives of individuals with neurological issues. INBRIJA® is authorised for intermittent therapy of OFF episodes in adults with Parkinson’s illness handled with carbidopa/levodopa. INBRIJA is just not for use by sufferers who take or have taken a nonselective monoamine oxidase inhibitor similar to phenelzine or tranylcypromine throughout the final two weeks. INBRIJA makes use of Acorda’s modern ARCUS® pulmonary supply system, a expertise platform designed to ship treatment by means of inhalation. Acorda additionally markets the branded AMPYRA® (dalfampridine) Prolonged Launch Tablets, 10 mg.
This press launch contains forward-looking statements. All statements, aside from statements of historic information, relating to administration’s expectations, beliefs, objectives, plans or prospects ought to be thought-about forward-looking. These statements are topic to dangers and uncertainties that might trigger precise outcomes to vary materially, together with: we might not be capable to efficiently market AMPYRA, INBRIJA or some other merchandise beneath growth; the COVID-19 pandemic, together with associated restrictions on in-person interactions and journey, and the potential for sickness, quarantines and vaccine mandates affecting our administration, staff or consultants or those who work for different corporations we depend on, might have a cloth opposed impact on our enterprise operations or product gross sales; our capability to draw and retain key administration and different personnel, or preserve entry to professional advisors; our capability to boost further funds to finance our operations, repay excellent indebtedness or fulfill different obligations, and our capability to manage our prices or scale back deliberate expenditures; dangers related to the buying and selling of our widespread inventory; dangers associated to the profitable implementation of our marketing strategy, together with the accuracy of its key assumptions; dangers associated to our company restructurings, together with our capability to outsource sure operations, understand anticipated price financial savings and preserve the workforce wanted for continued operations; dangers related to complicated, regulated manufacturing processes for prescribed drugs, which might have an effect on whether or not we now have enough business provide of INBRIJA or AMPYRA to fulfill market demand; our reliance on third-party producers for the well timed manufacturing of business provides of INBRIJA and AMPYRA; third-party payers (together with governmental companies) might not reimburse for the usage of INBRIJA or AMPYRA at acceptable charges or in any respect and should impose restrictive prior authorization necessities that restrict or block prescriptions; reliance on collaborators and distributors to commercialize INBRIJA and AMPYRA outdoors the U.S.; our capability to fulfill our obligations to distributors and collaboration companions outdoors the U.S. regarding commercialization and provide of INBRIJA and AMPYRA; competitors for INBRIJA and AMPYRA, together with growing competitors and accompanying lack of revenues within the U.S. from generic variations of AMPYRA (dalfampridine) following our lack of patent exclusivity; the power to understand the advantages anticipated from acquisitions as a result of, amongst different causes, acquired growth applications are usually topic to all of the dangers inherent within the drug growth course of and our data of the dangers particularly related to acquired applications usually improves over time; the chance of unfavorable outcomes from future research of INBRIJA (levodopa inhalation powder) or from different analysis and growth applications, or some other acquired or in-licensed applications; the prevalence of opposed security occasions with our merchandise; the result (by judgment or settlement) and prices of authorized, administrative or regulatory proceedings, investigations or inspections, together with, with out limitation, collective, consultant or class-action litigation; failure to guard our mental property, to defend in opposition to the mental property claims of others or to acquire third-party mental property licenses wanted for the commercialization of our merchandise; and failure to adjust to regulatory necessities might end in opposed motion by regulatory companies.
These and different dangers are described in better element in our filings with the Securities and Alternate Fee. We might not truly obtain the objectives or plans described in our forward-looking statements, and buyers shouldn’t place undue reliance on these statements. Ahead-looking statements made on this press launch are made solely as of the date hereof, and we disclaim any intent or obligation to replace any forward-looking statements on account of developments occurring after the date of this press launch, besides as could also be required by regulation.
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Supply: Acorda Therapeutics
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