Acorda Therapeutics plunges on Chapter 11 bankruptcy filing

Acorda Therapeutics

02/04/2024 11:27

** Shares of drugmaker Acorda Therapeutics  ACOR.O  fall
64.88% to $4.73 premarket- top pct. loser across U.S. exchanges
    ** Co files for Chapter 11 bankruptcy protection
    ** ACOR entered into an asset purchase agreement with
Germany based Merz Therapeutics to buy substantially all of the
assets of Acorda, including rights to its drugs Inbrija, Ampyra
and Fampyra for $185 million
    ** Patient access to the Parkinson's disease treatment
Inbrija and Ampyra, which helps to improve walking in adults
with multiple sclerosis, to continue uninterrupted - ACOR
    ** Co will continue operations while it works to complete
the sale process
    ** Up to last close, stock down ~11% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))