Acorda Therapeutics Announces Departure of Chief, Business Operations
February 19 2021 - 7:00AM
Business Wire
Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that
David Lawrence, Chief, Business Operations and its principal
accounting and financial officer, is resigning from the Company
effective mid-March, 2021. Mr. Lawrence will take a leadership
position at an early-stage biotechnology company.
“Dave has been an important part of Acorda’s leadership team
over the past 22 years and we are grateful for the many
contributions he has made to the Company,” said Ron Cohen, Acorda’s
President and CEO. “While we will miss him, we support his interest
in exploring a new phase of his career, and wish him well in his
next opportunity.”
“I am proud to have been part of helping Acorda grow from a
small, private company to a public, commercial company that has
brought important new therapies to people living with neurological
conditions, including Parkinson’s and multiple sclerosis,” said Mr.
Lawrence. “Following our recently announced improvements to
Acorda’s financial structure, I am leaving the company in an
excellent position, and will be cheering it on to continued
success.”
Robert Morales, Acorda’s Vice President of Finance and
Controller, will assume the roles of interim principal accounting
officer and interim principal financial officer.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and
improve the lives of people with neurological disorders. INBRIJA is
approved for intermittent treatment of OFF episodes in adults with
Parkinson’s disease treated with carbidopa/levodopa. INBRIJA is not
to be used by patients who take or have taken a nonselective
monoamine oxidase inhibitor such as phenelzine or tranylcypromine
within the last two weeks. INBRIJA utilizes Acorda’s innovative
ARCUS® pulmonary delivery system, a technology platform designed to
deliver medication through inhalation. Acorda also markets the
branded AMPYRA® (dalfampridine) Extended Release Tablets, 10
mg.
Forward-Looking Statements
This press release includes forward-looking statements. All
statements, other than statements of historical facts, regarding
management's expectations, beliefs, goals, plans or prospects
should be considered forward-looking. These statements are subject
to risks and uncertainties that could cause actual results to
differ materially, including: we may not be able to successfully
market AMPYRA, INBRIJA or any other products under development; the
COVID-19 pandemic, including related quarantines and travel
restrictions, and the potential for the illness to affect our
employees or consultants or those that work for other companies we
rely upon, could have a material adverse effect on our business
operations or product sales; our ability to raise additional funds
to finance our operations, repay outstanding indebtedness or
satisfy other obligations, and our ability to control our costs or
reduce planned expenditures and take other actions which are
necessary for us to continue as a going concern; risks associated
with the trading of our common stock and our reverse stock split;
risks related to our workforce, including our ability to realize
the expected benefits of our corporate restructuring; risks
associated with complex, regulated manufacturing processes for
pharmaceuticals, which could affect whether we have sufficient
commercial supply of INBRIJA to meet market demand; our reliance on
third-party manufacturers for the production of commercial supplies
of AMPYRA and INBRIJA; third party payers (including governmental
agencies) may not reimburse for the use of INBRIJA or our other
products at acceptable rates or at all and may impose restrictive
prior authorization requirements that limit or block prescriptions;
competition for INBRIJA, AMPYRA and other products we may develop
and market in the future, including increasing competition and
accompanying loss of revenues in the U.S. from generic versions of
AMPYRA (dalfampridine) following our loss of patent exclusivity;
the ability to realize the benefits anticipated from acquisitions,
among other reasons because acquired development programs are
generally subject to all the risks inherent in the drug development
process and our knowledge of the risks specifically relevant to
acquired programs generally improves over time; the risk of
unfavorable results from future studies of INBRIJA (levodopa
inhalation powder) or from our other research and development
programs, or any other acquired or in-licensed programs; the
occurrence of adverse safety events with our products; the outcome
(by judgment or settlement) and costs of legal, administrative or
regulatory proceedings, investigations or inspections, including,
without limitation, collective, representative or class action
litigation; failure to protect our intellectual property, to defend
against the intellectual property claims of others or to obtain
third party intellectual property licenses needed for the
commercialization of our products; and failure to comply with
regulatory requirements could result in adverse action by
regulatory agencies.
These and other risks are described in greater detail in our
filings with the Securities and Exchange Commission. We may not
actually achieve the goals or plans described in our
forward-looking statements, and investors should not place undue
reliance on these statements. Forward-looking statements made in
this press release are made only as of the date hereof, and we
disclaim any intent or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210219005222/en/
Tierney Saccavino (914) 326-5104 tsaccavino@acorda.com
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