Acorda jumps on Ampyra patent speculation
Acorda Therapeutics Inc. (NASDAQ:ACOR) jumped $5.71 (27%) to $27.13 before trading was halted on Thursday following media reports that the company may receive additional patent protection for multiple sclerosis (MS) drug Ampyra dalfampridine. The most recent entry on the U.S. Patent and Trademark Office website for a patent application covering Ampyra states "reasons for allowance," which may indicate that the office is considering granting the patent. Ampyra was approved last March to improve walking ability in patients with MS. The oral sustained-release formulation of 4-aminopyridine had sales of $133.1 million in 2010.
In 2004, Acorda filed application No. 11/010,828 for the patent, which would cover the composition of sustained release aminopyridine. If granted, the patent would expire in 2024. Acorda declined to comment. ...