Acorda 2Q loss narrows on Ampyra sales
Biotechnology company Acorda Therapeutics Inc. said Tuesday its second-quarter loss narrowed on a boost in sales of the multiple sclerosis drug Ampyra.
The company lost $6.8 million, or 18 cents per share, compared with a loss of $23.3 million, or 62 cents per share, during the same period a year prior. Revenue surged to $42.8 million from $12.6 million, mainly on sales of Ampyra. The drug was approved by federal regulators in January.
The drug aims to improve walking in patients with multiple sclerosis, an often disabling disease that affects the brain and nervous system.
Analysts polled by Thomson Reuters expected a loss of 46 cents on $29 million in revenue.
Shares rose $1.84, or 5.6 percent, to $35 in morning trading.