Acorda Therapeutics soars on trial results
Acorda Therapeutics Inc. (Nasdaq: ACOR) shares are soaring after the biopharmaceutical company said a study showed its experimental multiple sclerosis drug does not increase the risk for certain side effects.
“We are delighted with the results of this QT study, and are looking forward to completing our second Phase 3 trial of Fampridine-SR in multiple sclerosis patients in the second quarter of this year,” CEO Ron Cohen said in a statement.
Fampridine-SR, a drug for improving the walking ability in people with multiple sclerosis, is being studied in a clinical trial to assess its safety and effectiveness. The Hawthorne, N.Y.-based company held a morning conference call on Jan. 28 to discuss the results of the trial.
In morning trading, ACOR shares are up 16.85%, or $3.67, at $25.45. Over the last 52 weeks, shares have ranged from $15.80 to $26.58.
