Acorda Therapeutics (ACOR) Tops Q3 EPS by 7c, Revenues Beat

Acorda Therapeutics (NASDAQ: ACOR) reported Q3 EPS of ($0.23), $0.07 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $53.09 million versus the consensus estimate of $29.59 million.

• INBRIJA® (levodopa inhalation powder) 3Q 2020 net revenue of $5.8 million; 24% increase over 2Q 2020
• AMPYRA® (dalfampridine) 3Q 2020 net revenue of $27.3 million; 5% increase over Q2 2020
• $15 million FAMPYRA® milestone payment received from Biogen

“We are encouraged by the 24% increase in INBRIJA net sales over the second quarter, even with the challenges posed by the second wave of COVID-19. We are also pleased that coverage for INBRIJA continued to increase during the quarter, with over 96% of commercially-insured patients now having access to it,” said Ron Cohen, M.D., Acorda's President and Chief Executive Officer. “In addition, AMPYRA’s performance and the milestone payment we received for FAMPYRA have further strengthened our financial position. We are also continuing our work to reduce operating costs and monetize excess capacity at our Chelsea facility, to help drive long-term value for all shareholders.”

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

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