Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Acorda Therapeutics (NASDAQ:ACOR), a commercial-stage biopharmaceutical company with a focus on central nervous system disorders, jumped as much as 13% after the company reported positive phase 2 trial data for experimental drug Ampyra for the treatment of post-stroke deficits.
So what: In mid-stage trials, 83 patients who had previously had an ischemic stroke within six months of enrollment and had other chronic motor deficits (in this case, a deficit would be considered impaired walking ability or impaired dexterity) were given Ampyra or the placebo twice daily for 14 days. The results demonstrated that Ampyra improved walking ability for those who had suffered an ischemic stroke. The data also showed that Ampyra provided patients with a positive improvement in functional independence over the placebo. Ampyra was well tolerated by those who took it, with predominantly minor side effects.
Now what: Now this looks like even more reason why Acorda Therapeutics should be on big pharma's buy list! I've been saying for more than a year now that Acorda would make a fantastic takeover target for a pharmaceutical company looking to bolster its CNS-line of medications. Acorda is profitable, has nearly $6 in net cash per share, and has six ongoing clinical trials. What more do you need from a biotechnology company?
Craving more input? Start by adding Acorda Therapeutics to your free and personalized Watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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