Acorda Therapeutics, Inc.
acorda.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 14, 2024. Its latest SEC filing is a 15-12G from Aug 13, 2024.
10-Q for Q1 FY2024, filed May 14, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Marketed prescription medicines for people with Parkinson’s disease and multiple sclerosis, including inhaled levodopa and extended-release dalfampridine tablets.
10-K for FY2023, filed Apr 1, 2024
How Did They Make Money?
The company earned most revenue from selling Inbrija and Ampyra to specialty pharmacies and distributors; they generally paid within 30 to 60 days. It also earned royalties when Fampyra and Valtoco sales were completed, plus payments tied to regulatory approvals and sales targets.
10-K for FY2023, filed Apr 1, 2024Net revenues from product sales is recognized at the transaction price when the customer obtains control of the Company’s products, which…View ↗
The Company recognizes revenue for royalties under ASC 606, which provides revenue recognition constraints by requiring the recognition of…View ↗
Royalty revenues recorded by the Company relate to the Company’s License and Collaboration agreement with Biogen for sales of Fampyra, and…View ↗
License revenues relates to the Collaboration Agreement with Biogen which provides for milestone payments for the achievement of certain…View ↗
$117.6M
-
10-K for FY2023, filed Apr 1, 2024
$117.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Net Product Revenues
Sold outright
10-K for FY2023, filed Apr 1, 2024 |
87%
FY2020: 82%
|
Net Product Revenues, FY2023
$102.4M Sources
|
Sold outright |
|
Royalty Revenues
Licensed
10-K for FY2023, filed Apr 1, 2024 |
13%
FY2020: 8.6%
|
Royalty Revenues, FY2023
$15.1M Sources
|
Licensed |
|
License Revenue
Licensed
|
0.1% |
License Revenue, FY2023
$99K Sources
|
Licensed |
Who Were Their Customers?
Its direct customers included specialty pharmacies and ASD Specialty Healthcare; specialty pharmacies delivered medicines to patients by mail. Five direct customers each accounted for more than 10% of revenue, together representing approximately 90% in 2023 and approximately 91% in 2022.
10-K for FY2023, filed Apr 1, 2024The Company’s principal direct customers for the year ended December 31, 2023 were a network of specialty pharmacies and ASD Specialty…View ↗
We market Inbrija in the U.S. using field-based teams supported by our corporate marketing personnel. Our own neuro-specialty sales…View ↗
We market Ampyra in the U.S. using field-based teams supported by our corporate marketing personnel. Our own neuro-specialty sales…View ↗
Did Revenues Turn Into Profits?
No. It lost $252.9M in FY2023.
10-K for FY2023, filed Apr 1, 2024
−$265MView ↗
10-K for FY2023, filed Apr 1, 2024
−$252.9MView ↗
10-K for FY2023, filed Apr 1, 2024
−$14.2MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2024, filed May 14, 2024
−$27.4MView ↗
- ▲ +63% (Loss)
- vs −$16.8M in Q1 FY2023
10-Q for Q1 FY2024, filed May 14, 2024
Open tableView ↗
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Aug 9, 2024
Court confirmed a liquidation plan that called for canceling equity securities
The plan provided no distributions to equity holders and called for the CEO, CFO, directors and other officers to resign on its effective date.
Sources
8-K, filed Aug 9, 2024
On August 7, 2024, the Bankruptcy Court entered an order (the “Confirmation Order”) confirming the Modified First Amended Joint Chapter 11…View ↗
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Jul 11, 2024
Sold substantially all assets to Merz Pharmaceuticals
The company said no proceeds were expected for stockholders after the sale.
Sources
8-K, filed Jul 11, 2024
As previously disclosed, on March 31, 2024, Acorda Therapeutics, Inc. (the “Company”) and its wholly owned subsidiary, Civitas…View ↗
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Apr 26, 2024
Common stock ceased trading on Nasdaq and moved to the Pink Open Market
Sources
8-K, filed Apr 26, 2024
As previously disclosed, on April 3, 2024, Acorda Therapeutics, Inc. (the “Company”) was notified by the Listing Qualifications Department…View ↗
Shrank. Revenue fell 39% in 4 years, from $192.4M in FY2019 to $117.6M in FY2023, about 12% a year.
Fampyra commercialization
Biogen had marketed Ampyra outside the U.S. as Fampyra; Acorda said it would regain global commercialization rights and planned to assume commercialization responsibilities.
10-K for FY2020, filed Mar 16, 2021 10-K for FY2023, filed Apr 1, 2024On October 30, 2020, we received a $15 million milestone payment from Biogen International GmbH under our license and collaboration with…View ↗
In January 2024, we received notice of termination from Biogen of the Collaboration Agreement. Accordingly, we will regain global…View ↗
Who Did They Compete With?
Competes with Amneal Pharmaceuticals, Intec Pharma, Mitsubishi Tanabe Pharma, AbbVie, Alexza Pharmaceuticals, Pulmatrix, Vectura Group, PureIMS, Allergan, GlaxoSmithKline, MannKind, Novartis, Impel Neuropharma, Biogen, Bayer, Teva, Merck Serono, Genzyme, Sandoz, and F. Hoffman-La Roche
10-K for FY2023, filed Apr 1, 2024The standard of care for the treatment of Parkinson’s is oral carbidopa/levodopa, but oral medication can be associated with wide…View ↗
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