SAN DIEGO, Nov. 16, 2017 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP is investigating potential
claims on behalf of Acorda Therapeutics, Inc. ("Acorda") (NASDAQ:
ACOR). Acorda is a biopharmaceutical company that, identifies,
develops, and commercializes therapies for neurological disorders
in the United States.
On August 29, 2017, Acorda
disclosed that it had received a Refusal to File (RTF) letter from
the U.S. Food and Drug Administration (FDA) regarding the new drug
application it had submitted in June for Inbrija, a potential
treatment for Parkinson's disease. Acorda stated, "FDA specified
two reasons for the RTF: first, the date when the manufacturing
site would be ready for inspection, and, second, a question
regarding the submission of the drug master production record ."
Following this news, Acorda stock dropped substantially.
Then on November 15, 2017, Acorda disclosed that it stopped
enrolling new patients in its Phase 3 trial of tozadenant due to
five deaths that took place in the group of patients taking
tozadenant. Tozadenant is an oral adenosine A2a receptor antagonist
currently in Phase 3 development as an adjunctive treatment to
levodopa in Parkinson's disease patients to reduce OFF time. Acorda
informed investors that new enrollment suspension was pending
further discussion with the independent Data Safety Monitoring
Board and the FDA. Following this news, Acorda's share price
fell over 39%, to close at $17.00 on
November 15, 2017.
If you have information that could assist in this
investigation, including past employees and others, or if you are
an Acorda shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact
Jim Baker
(jimb@johnsonfistel.com) by email or phone at 619-814-4471. If
emailing, please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP