Healthcare Industry News: Acorda Therapeutics
News Release - February 23, 2007
Acorda Therapeutics Responds to Third Point LetterHAWTHORNE, N.Y.--(HSMN NewsFeed)--Acorda Therapeutics, Inc. (NASDAQ:ACOR ) announced today that it has received a letter from Third Point LLC dated February 22, 2007. The Company has responded to Third Point as follows: The board of directors of Acorda Therapeutics continually evaluates ways to maximize shareholder value and to serve the best interests of all shareholders.
Acorda Therapeutics is a biotechnology company developing therapies for spinal cord injury, multiple sclerosis, and related nervous system disorders. The Company's marketed products include Zanaflex Capsules(TM) (tizanidine hydrochloride), a short-acting drug for the management of spasticity. For full prescribing information, please go to www.zanaflexcapsules.com. Acorda's lead clinical stage product, Fampridine-SR, recently completed a Phase 3 study in people with MS. The Company's pipeline includes a number of products in development for the treatment, regeneration and repair of the spinal cord and brain.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including Acorda Therapeutics' ability to successfully market and sell Zanaflex Capsules, the risk of unfavorable results from future studies of Fampridine-SR, delays in obtaining or failure to obtain FDA approval of Fampridine-SR, competition, the ability to obtain additional financing to support Acorda Therapeutics' operations, unfavorable results from its preclinical programs, and failure to protect its intellectual property or to defend against the intellectual property claims of others. These and other risks are described in greater detail in Acorda Therapeutics' filings with the Securities and Exchange Commission. Acorda Therapeutics may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Acorda Therapeutics disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Source: Acorda Therapeutics
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