Shares of Acorda Therapeutics
Ampyra was approved in January 2010 to improve the walking ability of people with MS. Acorda filed for the patent in December 2004, and it's still under review. If the company is awarded a full patent, it could extend to 2024, which RBC analysts say "would be worth at least $10/share in cash flow" in their model.
The drug works by affecting the demyelinated axons that cause nerves to short circuit. On April 11, the Hawthorne, NY-based company announced during a medical meeting that people with MS who responded to dalfampridine extended release tablets showed similar improvements in their walking regardless of baseline walking speed or their overall level of disability. They also showed clinically meaningful improvement on the MS Walking Scale (MSWS-12) questionnaire, which patients use to report their ability to perform daily activities related to walking.
Acorda spokesman Jeff Macdonald says, "We've seen the update on the USPTO's website but cannot provide further comment at this time." He added that it would be up to the folks at Nasdaq to decide when to resume trading of Acorda's stock.
- Public Policy Institute on How to Boost Biotech in New York: More Jobs, Better Teamwork, Fewer Taxes
- Biotech in New York: Scientists and Entrepreneurs Gather to Banter About the City’s Challenges and Opportunities
- The ImClone Alumni: Where Are They Now?
Arlene Weintraub is the editor of Xconomy New York. She can be reached at firstname.lastname@example.org and followed on Twitter @awjourn.
More from The Motley Fool
Here's Why Acorda Therapeutics Got Crushed Today
The company provided an update on one of its lead drug candidates.
What Happened in the Stock Market Today
On a positive day for the overall market, Best Buy and Acorda Therapeutics lagged.
Why Acorda Therapeutics Is Losing One-Quarter of Its Value Today
Disappointing news from the FDA has investors scurrying for the exits.