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Acorda Therapeutics (NASDAQ:ACOR) inventory fell ~4% on Thursday following This autumn outcomes.
This autumn Internet earnings was $19.14M, in comparison with internet lack of -$20.57M in This autumn 2021.
Whole revenues declined -14.8% to -$31.47M. Internet product revenues fell -15.4% Y/Y to $27.82M.
Acorda mentioned This autumn U.S. internet income of Inbrija declined -13.1% Y/Y to $9M. The corporate famous that it didn’t report any ex-U.S. Inbrija gross sales in This autumn for both interval.
This autumn Ampyra internet income declined -16.6% Y/Y to $18.8M.
The corporate added that Ampyra misplaced its exclusivity and generics entered the market in 2018. Acorda expects Ampyra gross sales to proceed to say no.
Fampyra royalty revenues fell -25.1% Y/Y to of $2.7M in This autumn.
In keeping with the corporate, the decline in royalty revenues was primarily because of the launch of generic competitors within the German market in 2022.
This autumn Royalty revenues decreased -10.4% Y/Y to $3.65M.
At Dec. 31, 2022, the corporate had money, money equivalents, and restricted money of $44.7M, in comparison with $65.2M at yr finish 2021.
Outlook:
“In 2023 we anticipate to make additional progress in lowering working bills, rising INBRIJA’s trajectory, and sustaining the energy of the AMPYRA model. We’re additionally in lively discussions for added agreements to commercialize INBRIJA in a number of ex-U.S. territories; and we additionally anticipate Biopas to launch in Latin America in early 2024,” mentioned Acorda’s President and CEO Ron Cohen.
For full yr 2023, Acorda expects Inbrija U.S. internet income to be between $38M and $42M.
Ampyra internet income is anticipated within the vary of $65M to $70M by the corporate.
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