Tuesday before the bell, biopharmaceutical company Acorda Therapeutics Inc. (ACOR) posted wider loss for the second quarter, on higher research and development expenses, and higher marketing costs related to promotional activities of its short-action muscle relaxant Zanaflex and pre-launch activities for multiple sclerosis drug Fampridine-SR.
Net loss more than doubled to $18.82 million or $0.58 per share from $8.16 million or $0.33 per share in the year ago period. On average, 9 analysts polled by First Call/Thomson Financial expected a loss of $0.48 a share.
Net revenue increased to $11.39 million from $9.49 million last year. Analysts expected revenues of $12.45 million.
Operating loss widened to $17.07 million from $8.12 million in the year-ago quarter.
Research and development expenses climbed to $8.06 million from $7.48 million in the prior year period. Sales and marketing expenses increased to $11.73 million from $7.12 million in the previous year.
During the latest quarter, the company announced positive results from its second Phase 3 clinical trial of Fampridine-SR. Acorda Therapeutics said it is currently focused on completing a New Drug Application or NDA, which it expects to file in the first quarter of 2009.
Net loss for the half-year widened to $35.25 million or $1.12 per share from $15.71 million or $0.65 per share last year.
Year-to-date net revenues rose to $22.9 million from $17.81 million in the same period last year.
Operating loss for the six-month period was $33.4 million, compared to $15.92 million in the comparable year ago period.
ACOR is trading down 55 cents or 1.75% at $30.91.
For comments and feedback contact: editorial@rttnews.com
August 21, 2026 14:42 ET The minutes of the latest policy meeting of the Federal Reserve, housing market data and manufacturing sector survey results were the main news for the U.S. economy this week. In Europe, inflation data from the U.K. was the highlight, while consumer price data from Japan drew attention in Asia.