Acorda Therapeutics (ACOR) Misses Q2 EPS by 19c

Acorda Therapeutics (NASDAQ: ACOR) reported Q2 EPS of $0.29, $0.19 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $139.44 million versus the consensus estimate of $140.07 million.

• NDA submitted for INBRIJA™ (levodopa inhalation powder)
• Tozadenant Phase 3 data expected Q1 2018
• AMPYRA® (dalfampridine) 2Q 2017 net revenue of $131.6 Million; 8% increase over 2Q 2016
• AMPYRA 2017 net sales guidance of $535 - $545 million reiterated
• Projected year-end cash balance greater than $200 million

Guidance for 2017

• The Company reiterates AMPYRA 2017 net revenue of $535-$545 million.
• R&D expenses for the full year 2017 are expected to be $160-$170 million. This guidance is a non-GAAP projection that excludes share-based compensation and restructuring costs, as more fully described below under “Non-GAAP Financial Measures.”
• SG&A expenses for the full year 2017 are expected to be $170-$180 million. This guidance is a non-GAAP projection that excludes share-based compensation and restructuring costs, as more fully described below under “Non-GAAP Financial Measures.”
• The Company expects to be cash flow positive in 2017, with a projected year-end cash balance in excess of $200 million.

For earnings history and earnings-related data on Acorda Therapeutics (ACOR) click here.

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