Acorda Issued Patent on MS Drug Following Days of Speculation
Hawthorne, NY-based Acorda Therapeutics (NASDAQ: ACOR) announced that the United States Patent and Trademark Office issued a patent on the company’s 10 milligram, sustained-release version of dalfampridine (Ampyra) to treat multiple sclerosis. The patent is set to expire in 2026. Acorda saw its stock skyrocket April 14 on a report from RBC, which speculated that if the patent on the drug extended through 2024, it would be worth at least $10 per share in cash flow to Acorda. All told, the company’s stock had risen more than 30% since April 13, to $28.30, prior to the release of the news before the market opened today.