Acorda Therapeutics (ACOR) Tops Q3 EPS by 19c, Revenues Beat; Boosts FY18 AMPYRA Revenue Guidance

Acorda Therapeutics (NASDAQ: ACOR) reported Q3 EPS of $0.17, $0.19 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $142.81 million versus the consensus estimate of $82.81 million.

• AMPYRA® (dalfampridine) Q3 2018 net revenue of $138 million; 2018 net revenue guidance increased from $330-$350 million to more than $400 million
• Cash balance for year-end 2018 revised from more than $300 million to more than $400 million
• INBRIJA™ (levodopa inhalation powder) PDUFA date January 5, 2019

“Acorda’s highest priority is preparing for the expected launch of Inbrija. Our market research indicates that healthcare professionals, patients and care partners consider OFF periods, or the re-emergence of Parkinson’s symptoms, to be one of the most significant unmet needs in Parkinson’s, and that they are enthusiastic about the prospect of an inhaled formulation of levodopa as a treatment option,” said Ron Cohen, M.D., Acorda\'s President and CEO.

“We were disappointed and disagree with the decision of the Federal appeals court regarding Ampyra, and we have filed an en banc petition requesting review by the entire court. At the same time, we were prepared for that potential outcome, and our original projections had us well capitalized to fully fund the launch of Inbrija and to develop the ARCUS pipeline. We have taken several steps over the past year both to conserve and to increase cash. Based on these, as well as greater than forecasted Ampyra sales, we are in now in an even stronger financial position, and are increasing our guidance for both cash and Ampyra sales in 2018.”

GUIDANCE:

Acorda Therapeutics sees FY2018 revenue of $400 million, versus the consensus of $374.65 million.

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

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