Acorda Therapeutics (ACOR) 2016 AMPYRA Net Sales Hit $132M, Sees 2017 AMPYRA Net Sales of $535-$545M

Acorda Therapeutics, Inc. (NASDAQ: ACOR) reported AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg net sales for the fourth quarter of 2016 of $132 million. Full-year net sales for 2016 were $493 million, an increase of approximately 13% from 2015. Final results are subject to completion of the Company’s year-end audit.

“We are on track to announce topline data from our CVT-301 Phase 3 efficacy and long-term safety trials for the treatment of OFF periods in Parkinson’s disease in the first quarter of 2017,” said Ron Cohen, President and CEO. “If successful, we plan to file an NDA in the second quarter of 2017 and an MAA in Europe by the end of 2017."

“We continue to enroll our Phase 3 study of tozadenant in people with Parkinson’s and expect topline data from this study in the first quarter of 2018. Together with CVT-301, these therapies, if approved, would represent important new treatment options for people with Parkinson’s.”

“We anticipate rulings on the ANDA and IPR challenges to our AMPYRA patents during the first quarter. Our corporate priorities continue to be advancing our CVT-301 and tozadenant Parkinson’s programs, maximizing the value of our Ampyra franchise and leveraging business development to partner or out-license some of our earlier stage programs.”

The Company provided 2017 guidance for AMPYRA net sales of $535-$545 million, research and development (R&D) expense of $185-$195 million, and sales, general and administrative (SG&A) expense of $195-$205 million. These are non-GAAP projections which exclude share-based compensation, as more fully described below under “Non-GAAP Financial Measures.”

At year-end 2016, the Company projects cash, cash equivalents and investments of approximately $155 million (unaudited).

Dr. Cohen will provide a corporate overview today in San Francisco at the 35th Annual J.P. Morgan Healthcare Conference at 11:30 a.m. Pacific/2:30 p.m. Eastern. The presentation is available via webcast at www.acorda.com.

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