Shares in Acorda Therapeutics (NSDQ:ACOR) fell today after the biotech company met sales expectations on Wall Street with its fourth-quarter results, but missed EPS estimates.
The Ardsley, N.Y.-based company posted a net loss of -$171 million on sales of $188.4 million for the 3 months ended Dec.31, for sales growth of 34% compared with the same period last year. In explaining the company’s quarterly loss, Acorda cited a $234 million charge associated with the termination of one of its Parkinson’s therapy programs and a $24 million charge linked with a clinical trial that failed to meet key endpoints.
Get the full story at our sister site, Drug Delivery Business News.