Acorda Therapeutics, Inc.
) announced preliminary unaudited Ampyra sales information. The
company said that fourth quarter Ampyra unaudited sales were $84
million and full year Ampyra unaudited sales were $302
Ampyra sales are expected to increase modestly in 2014 to $328
million - $335 million. Growth will be driven by price increases
- Acorda took a 10.75% price increase for Ampyra this month.
The company pointed out that first quarter sales are usually
lower than subsequent quarter sales. Acorda expects to spend $60
million - $70 million on R&D - the company is looking to
advance its pipeline and expects to have four programs in
progress during the year.
Acorda also intends to conduct a phase III study on a
once-daily formulation of Ampyra in post-stroke deficits. The
company met with the FDA in December to discuss the phase III
protocol and is currently incorporating recommendations made by
the agency. The study is likely to commence in the second
Meanwhile, SG&A spend is expected in the range of $180
million - $190 million. The guidance includes commercialization
expenses associated with the potential launch of Diazepam nasal
spray which is yet to gain FDA approval. The company is looking
to get the candidate approved for the treatment of people with
epilepsy who experience cluster seizures.
Zanaflex and Fampyra revenues are expected to be $25 million
in 2014. This includes amortized revenues of $9.1 million
resulting from the $110 million payment received from
) for Fampyra.
Acorda's fourth quarter preliminary sales figures look good
with Ampyra revenues improving on a sequential basis. However,
revenue guidance for 2014 was slightly below expectations with
the Zacks Consensus Estimate currently standing at $376
Acorda is a Zacks Rank #4 (Sell) stock. Some better-ranked
stocks in the same sector include
). Both are Zacks Rank #1 (Strong Buy) stocks.
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